Page 8 - Upi

UPI down again: Google Pay, Paytm, PhonePe hit amid widespread disruption

Users reported failed payments and problems with fund transfers as the most common issues

UPI transactions through QR Share & Pay method discontinued abroad

Changes implemented to improve security of UPI transactions outside India

Payment pains: UPI outages traced to tech glitches, backend failures

'Root-cause analysis' done, hardware replaced, member banks briefed on fixes

Fintech firm Razorpay launches Turbo UPI Plugin on BHIM Vega platform

Fintech firm Razorpay has partnered with NPCI BHIM Services Ltd (NBSL) and Axis Bank to launch the Razorpay Turbo UPI plugin on the BHIM Vega platform. The solution enables businesses to offer seamless in-app payment experiences, allowing customers to complete transactions instantly without switching to third-party apps. "BHIM Vega -- Razorpay's Partner Businesses can now accept in-app payments, and end-customers can complete payments instantly within the app without switching to third-party apps, reducing friction in online transactions and delivering a high-speed payment experience," a company statement said. The partnership aims to reduce friction in online payments, increase transaction success rates, and streamline user onboarding. "Our partnership with BHIM to integrate Turbo UPI with BHIM Vega... removes one of the biggest pain points in UPI payments -- redirections -- allowing customers to complete transactions instantly within the app. "This means fewer drop-offs, higher

Paytm unveils silent 'Mahakumbh Soundbox' with screen for discreet payments

The new product, launched at Startup Mahakumbh event in Delhi, can be useful for vendors who prefer not to have payment details spoken out loud, especially for transactions involving big amounts

PM Modi offers linking UPI with payment systems of BIMSTEC nations

Seeking to impart fresh impetus to the BIMSTEC grouping, Prime Minister Narendra Modi on Friday proposed linking India's UPI with the payment systems of the member nations, a move that could boost trade, business and tourism within the region. Addressing the sixth BIMSTEC Summit here, the Prime Minister also proposed to set up a BIMSTEC Chamber of Commerce, organise annual business summits and explore promoting trade in local currencies within the region. At the outset, the Prime Minister offered his condolences for the loss of lives and property in Myanmar and Thailand in the devastating earthquake on March 28. Modi also proposed establishing a BIMSTEC Centre of Excellence for Disaster Management in India to collaborate on disaster preparedness, relief and rehabilitation. The BIMSTEC Summit, hosted by Thailand, is attended by leaders from India, Bangladesh, Nepal, Myanmar, Sri Lanka and Bhutan. The BIMSTEC Summit adopted the Bangkok Vision 2030 to realise the shared commitment to

UPI payments face outage for third time in a week, NPCI flags latency

This is the third time processing UPI payments has faced an outage

UPI transaction volume grows 42% to reach 93 billion in Jul-Dec 2024

India's Unified Payments Interface (UPI) continues to dominate the digital payments landscape, with transaction volumes surging 42 per cent year-on-year (YoY) to reach 93.23 billion in the second half of 2024, a recent report has shown. The 'India Digital Payments report for 2H 2024' report by Worldline showed that three UPI platforms are dominant in terms of volume and value: PhonePe, Google Pay, and Paytm. In terms of transaction volume, in December 2024, the three apps accounted for 93 per cent of all transactions. In terms of transaction value, they accounted for 92 per cent in December 2024. "When comparing the volume of UPI transactions in 2H (July-December) 2024 to 2H 2023, it increased by 42 per cent from 65.77 billion to 93.23 billion. During the same timeframe, the value of transactions increased by 31 per cent from Rs 99.68 trillion to Rs 130.19 trillion," the report said. Besides UPI, other forms of payment under digital payments include credit cards, prepaid cards, mob

NPCI attributes fin year-end processing load for UPI transaction failures

In March, the UPI network recorded more than 591 million average daily transactions

UPI faces outage, NPCI reports intermittent technical issues with network

Third-party apps said that they raised the issue with NPCI after the initial outages were reported on their app

BHIM will continue to be sandbox or reference app: CEO Lalitha Nataraj

The latest version of BHIM 3.0 will be rolled out in phases to its customers, with the body planning a complete launch by April 2025

RBI hikes ATM withdrawal fees; higher charges from May 1 - check details

The revision in fees follows requests from white-label ATM operators, who sought higher withdrawal charges due to increasing operational costs affecting their business

Payments body PCI urges PMO to levy MDR on UPI, RuPay debit cards

If the proposal is accepted, nearly 90 per cent of India's 60 million UPI-accepting merchants will remain unaffected, as they fall under the small enterprise category

Yashwant Varma's transfer, Karnataka’s Muslim quota bill, UPI IDs to be inactive & more

A fire at the residence of Delhi High Court Judge Yashwant Varma led to the discovery of a large stash of unaccounted cash.

UPI apps must get user consent for seeding or porting UPI numbers: NPCI

Latest guidelines emphasise the use mobile number revocation list (MNRL) and digital intelligence platform (DIP) by banks and PSPs

UPI services will be unavailable for some users from April 1; check here

The National Payments Corporation of India will remove IDs and users with inactive mobile numbers will be unable to use online payment applications like Google Pay, Paytm, PhonePe, etc

NPCI's international arm partners with Singapore firm to expand UPI

UPI services will be expanded to more than 12,000 merchants in Singapore

Govt clears ₹1,500 cr scheme to boost low-value BHIM-UPI transactions

Under the scheme, incentives will be provided for UPI transactions up to ₹2,000, specifically benefitting small merchants

Flipkart-backed super.money joins top five UPI apps club: NPCI data

The Bengaluru-based fintech firm, which has been offering cashbacks on UPI transactions, overtook Cred, which processed 126.48 million the same month

Paytm UPI users can now download expense statements in Excel format

Following the rollout of PDF statements, the new Excel format offers enhanced flexibility for managing expenses