Digital Transactions
Digital Transactions News
Online transactions grew 80 percent in 2020 driven by strong uptake from tier II, III cities, reports Razorpay
Razorpay said it witnessed a decline of 30 percent in digital payments initially during the lockdown, but after the first 70 days of the national lockdown, digital payments rebounded by 23 percent.
Paytm launches Rs 100 cr loyalty scheme for kirana stores to cover up merchant charges
Digital payment firm Paytm on Tuesday announced a Rs 100 crore loyalty programme for grocery stores to cover up losses faced by merchants from transaction charges
Mukesh Ambani regains 'richest person in Asia' tag; topples Jack Ma after $5.7 bn Facebook-Jio deal
Mukesh Ambani, Chairman and Managing Director, Reliance Industries Ltd (RIL) has regained the 'richest person in Asia' tag after Facebook's $5.7 billion (Rs 43,574 crore) investment in Jio Platforms on 22 April.
Coronavirus Outbreak: UPI transactions drop in March, RTGS shoots up due to lockdown
After constantly rising for the past several months, the volume, as well as value, of transactions through the UPI payment system dropped in March due to the 21-day nationwide lockdown imposed to combat the coronavirus infection
Bengaluru-based enterprise fintech startup Recko raises $6 Million in Series A funding
Recko, a Bengaluru-based enterprise fintech startup that enables AI-powered reconciliation of digital transactions, announced on Thursday it has raised $6 million in Series A funding
Coronavirus Outbreak: Canara Bank waives charges on withdrawal from other ATMs
In order to provide relief to its customers affected by lockdown in various parts of the country due to COVID-19, state-run Canara Bank on Wednesday announced a full waiver of service charges for any number of withdrawal from other bank's ATMs up till 30 June, 2020
Coronavirus outbreak: Bank of Baroda to not charge customers for digital transactions for three months
State-owned lending major Bank of Baroda (BoB) on Thursday has announced zero charges on digital transactions for three months amid Covid-19 outbreak
Bengaluru, Delhi and Hyderabad lead digital merchant payments; account for over 40% transactions in 2019: Report
Digital transactions are estimated to have grown by 338 percent from 2018 to 2019, according to the Razorpay report
RBI issues new guidelines for credit, debit cards; move aims to prevent digital transaction frauds
The latest instructions, however, are not mandatory for prepaid gift cards and those used at mass transit systems, the RBI added.
Digital economy: Love of cash hinders govt's objectives; currency in circulation rises 17% to Rs 21 lakh cr post-demonetisation
The demonetisation got rid of old 500 and 1,000 rupee banknotes and Modi said that would boost the country’s digital economy, unearth unaccounted wealth and reduce the use of cash.
RBI asks banks not to charge savings bank account holders for NEFT transactions from 1 January
Come January 2020, and customers may not have to pay any charges for transactions done through the popular NEFT system
Cashback of 0.75% to be discontinued on all credit card payments at petrol pumps from today
An industry official said the oil companies have decided to discontinue the discount on all credit card payments from 1 October.
Digital economy? RBI says currency in circulation soars 17% to Rs 21.1 lakh cr in FY19
Despite the many an effort to shift to digital payments and usher in a digital payment economy, the currency in circulation has jumped by a hefty 17 percent to Rs 21.10 lakh crore as of March 2019, the Reserve Bank said in its annual report for 2019
Cash still king in Japan: Ageing population doesn't prefer mobile payments; campaigns launched to change transaction habits
in Japan, where crime and counterfeiting are virtually non-existent, people feel more comfortable carrying cash and consumer response has been sluggish.
Aadhaar-enabled payment systems cross 200 mn transactions on NPCI platform in July
NPCI's Aadhaar-enabled Payment System (AePS) is a bank-led model which allows basic interoperable banking transactions at PoS or MicroATM through business correspondent of any bank.
Digitisation push: Aadhaar enabled transactions cross 200 mn milestone on NPCI platform during July
The umbrella body for digital transactions, NPCI, on Monday said that Aadhaar enabled Payment System (AePS) crossed the milestone of over 200 million transactions during July this year
NEFT New Fund Transfer Timings 2019: RBI allows round-the-clock payments from December to promote digitisation
The RBI has decided to allow round-the-clock fund transfers through NEFT from December this year in order to promote digital transactions
After NEFT, RTGS, SBI waives charges on IMPS transactions through internet and mobile banking from 1 August
State Bank of India (SBI) has waived charges on NEFT and RTGS transactions through the internet and mobile banking from 1 July, after the RBI decided to do away with the charges with an aim to move the country towards a less-cash economy
Income Tax Budget 2019: TDS on cash withdrawal is hardly a deterrent besides smacking of one-size-fits-all
Loss-making concerns would feel the heat of this new measure because TDS would lock up their funds
Govt should consider formulating proposed national retail trade policy for bolstering sector
The increase in disposable income would result in additional demand and help boost the retail sector.