Digital Payment News
India expected to become 50% non-cash economy in consumption by 2026
According to a new report, the household consumption of the country is expected to reach more than $3 trillion by FY26
India's UPI and Singapore's PayNow are now linked: How will this benefit users?
With the Unified Payments Interface (UPI) being connected to PayNow on Tuesday, Indians can now send money to their friends, coworkers, and relatives in Singapore via digital payment systems like Google Pay and PayTM
Harsh Goenka shares video of QR code replacing cash in wedding
While the big fat Indian weddings surely witness money being showered by the relatives amidst the peppy beats of dhol, this time a QR code seems to have replaced the cash
Why India's digital payment ecosystem is a revolution
India's digital payment revolution is an inspiration and case study for the entire world to witness
Digital payment platform Paytm down for several users, finally resolves error
Several users had reported glitches while making the transactions through the app on social media
Paytm to launch FASTag-based parking service across country
Paytm Payments Bank became the first bank in the country to achieve the milestone of issuing one crore FASTags in June
WhatsApp Payment is live for 20 million users in India: Here is how to transfer money
WhatsApp Payment has been launched with support from banking partners including the State Bank of India (SBI), HDFC, ICICI, and Axis Bank.
How to send money via UPI ID on WhatsApp Payments
Here is a step-by-step guide on how to send money via UPI using WhatsApp's new payment feature.
Paytm slams Google for 'arm-twisting' after the app was pulled out of Play Store
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.
PM Garib Kalyan Package: Govt says Rs 34,800 cr financial help given to 39 cr beneficiaries
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.
Cybercrime: Here are 10 tips that can help you stay safe in the digital world
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 leads the charge in UPI payments with 240 mn transactions in May
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.
Digital payments: Lifting cap on ticket size of transactions will speed up sector growth
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.
Data localisation critical to ensure privacy and security of consumer data, says Paytm
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