Union Budget 2021: Incentives needed for operators to view fiberisation as opportunity, not challenge
India currently ranks among the lowest in internet quality even as it continues to be one of the most affordable internet economies in the world.
Overall, the RBI has shown a welcome range in its focus last year, from financial inclusion, promoting innovation to easing payments in the pandemic.
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.
WhatsApp Payment has been launched with support from banking partners including the State Bank of India (SBI), HDFC, ICICI, and Axis Bank.
WhatsApp payment service is now available for 20 million users including both iOS and Android users in India.
In unnamed funding round, Flipkart backed PhonePe raises fresh funds thereby taking its valuation to $5.5 billion.
National Payments Corporation of India brings onboard new members as part of its shareholding party.
WhatsApp will also let you send money to users who have a UPI ID but do not use WhatsApp payments.
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 service seems to be currently avaialble only on Axis Bank credit/debit and SBI credit cards for a set group of users in India, reports said
PayNearby partners with IndusInd Bank for contactless payments; expands hyperlocal direct to consumer business
PayNearby, a fintech startup has now expanded its hyper local discovery and purchase application ‘BuyNearby’ for pan-India operations with IndusInd Bank
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.
Coronavirus Outbreak: Ahmedabad decides to go digital to prevent the spread of the virus through currency
From 15 May, all home deliveries will have to be paid digitally and no cash on delivery will be accepted.
Realme PaySa was launched to offer personal loans between Rs 8,000 and Rs 1 lakh to individuals.
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
Historically, digital payments around the world have been driven by the American model defined by card associations.
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
Flipkart fintech isn’t focussed on individual payments or UPI. It’s an affordability construct both for customers and sellers.
Google writes letter to US Federal Reserve to adopt UPI-like payments mechanism; draws cheers among Indian entrepreneurs
A top banker told Tech2, UPI is being pushed to go global and now if it manages to draw the attention of the US Federal Reserve it will be big fillip for NPCI.