Digital Payment News
Paytm Payments Bank became the first bank in the country to achieve the milestone of issuing one crore FASTags in June
WhatsApp Payment has been launched with support from banking partners including the State Bank of India (SBI), HDFC, ICICI, and Axis Bank.
After being pulled down last week, the Paytm app has now been restored on Google Play Store.
WhatsApp assures SC that it will not go ahead with the payment service without complying with Indian regulations
Earlier, WhatsApp had told the apex court that it is conducting a trial run of its payment service.
The government has provided Rs 34,800 crore financial assistance using digital payment infrastructure to about 39 crore beneficiaries under the Pradhan Mantri Garib Kalyan Package (PMGKP) to protect them from the impact of COVID-19 lockdown
Govt's new foreign investment rules aimed at China to include Hong Kong too; inflows from both to be scrutinised in same manner
The new rules are seen slowing down investment timelines and straining Indian startups that get regular funding from major Chinese companies, especially when the coronavirus outbreak has already hit them hard.
Coronavirus Outbreak: Insurance companies start offering exclusive pandemic policies; partnering with online payment firms
Star Health Insurance and Edelweiss General Insurance are among others which have also come up with exclusive insurance policies for COVID-19.
India retail banking a 'nice oasis' for foreign lenders Deutsche, HSBC, peers; easing regulations, surge in online deals drive change
Improved performance in India and its basis in the take-up of digital retail banking services could also offer hope for other large markets with potential far greater than the profit so far delivered, such as China.
Avoid utilising telephone customer service representatives to complete payment transactions.
SIT on black money: Govt should make credit, debit card mandatory to pay bills; move will curb use of unaccounted money
Banks and institutions in India are fully geared to usher in a debit or credit card revolution, consumers have also realised the advantages and benefits of using debit or credit cards.
Google Pay has consolidated its lead as the top UPI payment app, closely followed by Flipkart-owned PhonePe.
Mastercard commits $1-bn investment in India in next 5 years; plans to develop country as global tech node
This investment will help foster innovation and increase Mastercard's speed-to-market capabilities and value-added services.
The trend seems to be accelerating ever since the Reserve Bank of India that regulates the payment industry allowed interoperability among payment service providers sometime ago.
With digital payment services growing at a phenomenal pace, it is critical that players invest in data localisation to ensure security of data, Paytm said
Cash crunch: Cashless economy is still far away; govt hasn't done enough to push digital transactions
The steps thus far taken by the government are few and unsubstantial like 0.75 percent cash back on card payments in petrol bunks, waiver of user charges for online booking of rail tickets, etc.
WhatsApp posted on its platform that Facebook simply helps pass the necessary payment information to the bank partner and NPCI.
PayPal net revenue climbed to $3.74 billion from $2.98 billion, while payments volume rose 32 percent to $131.45 billion.
Google Pay is the latest digital payment platform by Google; merges Android Pay and Google Wallet in one solution
Google Pay will make it easier for users to save the payment information with their Google account so that they can make quick payment checkouts.
Paytm QR code to allow shopkeepers to accept payments directly into their bank accounts, without any charge
"The Paytm QR now allows offline merchants to accept unlimited payments directly into their bank accounts at zero percent charge," Paytm said.