Digital Transactions

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