The Google Tez app was launched back in August 2017 and then rebranded as Google Pay in Sep 2018.
Tokenisation of debit and credit cards: All you need to know about how to do transactions through mobiles and tablets safely
Tokenisation differs from encryption significantly.
Earlier last year, NPCI launched UPI 2.0 with features such as overdraft facility to let customers link their OD accounts to the UPI payments system.
Cyber cell experts that this fraud has taken place using the SIM swapping trick.
National Payment Corporation of India's deadline for data localisation has, however, already expired.
Bose has been evangelising the idea of how Ezetap could turn any mobile device into a PoS device.
UPI, RuPay reportedly accounted for 65.2 percent of all debit and credit card transactions as on 31 August 2018.
Existing payment modes such as debit cards, credit cards, Immediate Payment Service (IMPS) and Pre Paid Instruments(PPI) have registered substantial growth as well.
Demonetisation anniversary: Visa, Mastercard losing market share to indigenous RuPay card, UPI, says Arun Jaitley
"Today, Visa and Mastercard are losing market share in India to the indigenously developed payment system of UPI and RuPay card whose share has reached 65 percent of the payments done through debit and credit cards," Arun Jaitley said.
Demonetisation anniversary: A political thriller turns two; for a struggling economy, its costs have far outweighed the gains
Two years ago, on this day, Modi launched demonetisation with three core objectives to begin with--terminating black money in cash, killing fake currency and putting an end to cash-based corruption.
2 years of demonetisation: Note ban decision targeted black money outside India and formalised economy, writes Arun Jaitley
Demonetisation is a key step in a chain of important decisions taken by the Government to formalise the economy. The Government first targeted the black money outside India. Asset holders were asked to bring this money back on payment of penal tax.
SEBI to introduce alternative payment mechanism for retail IPO investors from January; move will cut listing time
As a part of the continuing efforts to further streamline the process, SEBI has decided, in consultation with the stakeholders to introduce the use of UPI as a payment mechanism with Application Supported by Block Amount (ASBA) for applications in public issues by retail investors through intermediaries.
UPI 2.0 pushes forward digitisation agenda of the country, brings banking ecosystem on single platform
With the launch of UPI, India became one of the only 18 countries worldwide to have a real-time P2P payment system (across different banks) way ahead of the USA and some of the other developed countries
Paytm now has over 33 percent of the overall Unified Payments Interface market share.
Digital payments: Over 400 mn UPI transactions worth Rs 59,835 cr clocked in September; up 30% over August
Monthly transactions through unified payments interface (UPI) increased by more than 30 percent month-on-month to 405.87 million in September, totalling over Rs 59,835 crore in value, according to the National Payments Corporation of India (NPCI) data.
RBI’s data localization mandate indicates the hurdles companies face to set up payment services.
UPI payments transactions up 32% month-on-month in August, cross 300-million mark worth Rs 54,212.26 crore
The number of transactions via UPI grew 32 percent to 312.02 million over the previous month amounting to Rs 54,212.26 crore, according to NPCI website.
Consolidation of the Tez mobile wallet into Google Pay would allow UPI for app purchases on Play Store.
Walmart India said that with the expectation that the UPI system will boost online transactions, the initiative will certainly complement efforts to make India a digital economy
BHIM UPI 2.0 was unveiled by the National Payments Corporation of India (NPCI) in Mumbai today.