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People in India are widely using UPIs (Unified Payments Interface) for sending and receiving money, making bill payments, and merchant transactions. Introduced in 2016 by the National Payments Corporation of India (NPCI), the UPI has made life easier than ever before by making instant payments available around the clock.
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There was a growth of 25 per cent and 14 per cent in value and volume, respectively, in assisted financial transactions across semi-urban and rural retail counters in the country in 2022,
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Though a password is required to unlock a phone or the app, these days it may not be difficult for cybercriminals and thieves, especially if you were using easy-to-guess passwords, to open your phone.
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The Reserve Bank of India (RBI) and Singapore's central bank, the Monetary Authority of Singapore (MAS), have been working on linking the United Payments Interface (UPI) and PayNow, a project that is expected to roll out very soon.
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PhonePe is the first UPI Third Party Application Provider (TPAP) App to roll out the Aadhaar-based UPI onboarding flow that will now enable several crore Indians to become a part of the UPI ecosystem.
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India has made a significant impact on the retail payment systems in the country with various solutions.
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UDIR is an automated, single-channel redressal system designed to seamlessly address customer issues and complaints regarding pending transactions and provide speedy dispute resolution online instead of manual file-based processes.
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Goyal and Saudi Minister for Energy Prince Abdulaziz bin Salman Al-Saud co-chaired the ministerial meeting of the Committee on Economy and Investments of the council.
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Hyderabad: Many do not mind going out without carrying any cash on person. They believe they can just scan and pay through the UPI for all purchases they make. UPI is a convenience and is free. But that might change soon and there might be a fee to pay on UPI transactions. The RBI on […]
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Mumbai: The Reserve Bank of India (RBI) has invited feedback from the public on the various changes proposed in the payments system, including the possibility of imposing tiered charges on transactions done through the Unified Payments Interface (UPI). As announced in the Statement on Developmental and Regulatory Policies dated December 08, 2021, the Reserve Bank […]
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New Delhi: India is attempting several big reforms in the technology sector to allow local businesses thrive amid anti-market practices from Big Tech and according to Shireesh Joshi, Chief Business Officer (CBO) and President, Network Expansion for the Open Network for Digital Commerce (ONDC), the goal is to create population-scale inclusion of e-commerce in the country. […]
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The country is rapidly moving towards a cashless economy as digital transactions have made life easier by eliminating the need of travelling to pay cash. Just log on to the internet and NEFT or RTGS transactions are completed via a short-term payment called the Unified Payment Interface (UPI), offered by the National Payment Corporation of […]
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Paris: Upbeat with India being recognized as the “country of the year” at Europe’s biggest start-up conference – Vivatech 2020, an Indian diplomat in France said that India’s Unified Payments Interface (UPI) and Rupay cards will soon be accepted in France. In an exclusive interview with ANI, Jawed Ashraf, Indian Ambassador in France, said, “India […]
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Bengaluru: Accelerating its journey in creating a one-stop payment platform, fintech company Slice on Thursday launched the integration of unified payments interface (UPI) into its app for all its existing and waitlisted users. Following its trial in 2021, the company said it is now rolling out the integration in a phased manner for its users. […]
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Hyderabad: Digital payment solutions company XPay.Life announced plans to offer UPI and services for Hyderabad market. It is working to digitise payment methods and also provide customers with more options to pay bills at their convenience. The digitisation efforts will also provide opportunities to local entrepreneurs. It offers point of sales machines where customers can […]
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Hyderabad: After the success of the pilot project to accept payments via UPI, QR Codes at Mahatma Gandhi Bus Station (MGBS) and Rathifile Bus Station, Secunderabad, Telangana State Road Transport Corporation (TSRTC) now launched the same service at Jubilee Bus Station from Tuesday.Passengers will be able to pay for ticket reservations, buy or renew their […]
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Hyderabad: Telangana State Road Transport Corporation (TSRTC) has undertaken a new pilot project and has started accepting payments via UPI and QR Codes from Tuesday. These services will only be available at Mahatma Gandhi Bus Station (MGBS) and Rathifile Bus Station, Secunderabad. At MGBS, passengers will be able to pay for ticket reservations as well […]
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Says cyber crooks swindling people using fake identity cards of Army and other paramilitary forces
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In August, the number of banks live with UPI grew to 249 from 235 in July, while the 3.55 billion transactions valued at Rs 6,39,116 crore was recorded. In the last one year – i.e.
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The Noida-based firm, which had an astonishing rise after demonetisation in 2016, is betting on financial services, commerce and payments as three key focus areas.
