Banks including SBI, HDFC, Axis, Punjab National Bank, ICICI Bank and more are live with the e-RUPI digital payment solution.
In its statement, the Prime Minister's Office said e-RUPI is a cashless and contactless instrument for digital payment
e-RUPI is a cashless and contactless instrument for digital payment
This is a 1 percent jump in volume and a 6.4 percent surge in value for UPI from November which had seen 2.21 billion transactions worth Rs 3,90,999 crore.
With the reloadable wallet feature, customers can store money to ensure quick transactions without any irregularities even if they have poor connectivity at the POS machines.
National Payments Corporation of India brings onboard new members as part of its shareholding party.
WhatsApp has been running a pilot service for the last two years but was not given a formal go-ahead because of data localisation requirements.
The statement comes against the backdrop of social media buzz that issues that might arise while transferring money through Google Pay cannot be redressed under law as the app is unauthorised.
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.
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
Free voice calls no excuse for poor service quality, will not pass regulatory muster, says TRAI chief
TRAI officials conduct standard tests on roads, trains and other busy spots and any operator found to be giving poor service is punished, said Chairman RS Sharma
FASTag is a radio-frequency identification (RFID) tag linked to your bank account for faster toll payments.
This comes days after Zuckerberg announced that there will soon be "positive news" about the service's launch.
The government wants to ensure that all the data pertaining to WhatsApp Pay will be stored on servers based in India.
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.
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
Truecaller had partnered ICICI Bank to launch its UPI-based mobile payment service.
WhatsApp launched its payment feature with ICICI bank but failed due to a lack of localisation of data storage.
A look at the themes or trends that are likely going to define Internet policy in India going forward.
For the full fiscal, Union Bank reported a net loss at Rs 2,948 crore as against Rs 5,247 crore in FY2018.