In its monetary policy committee meeting (MPC) today, RBI decided to upgrade UPI Lite to enable users to conduct transactions up to Rs 500 offline.
The notification dated January 14, 2023 published on the Ministry of Electronics and IT website on Monday is part of an announcement in the Union Budget for 2022-23 to boost digital transactions in the country
The study found that better security, data privacy, and customer support give banking digital payment apps higher customer loyalty compared to non-banking digital payment apps.
BoB Credit Card customers can now use their RuPay Credit Cards on UPI with BHIM and other UPI-enabled Apps, BOB Financial Solutions Ltd (BFSL) said
The incentive scheme will facilitate a robust digital payment ecosystem while promoting RuPay Debit Card and BHIM-UPI digital transactions
Union Minister of Finance Nirmala Sitharaman is in the US on an official visit. She mentioned that both Singapore and the UAE have shown interest in accepting India’s home-grown card payment network, RuPay
The inward bilateral remittance between the two countries was around $949 million in 2021 according to the World Bank bilateral remittances matrix, SBI said
During the month, 678 crore transactions in volume terms were done on the platform launched in 2016.
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However, it was down by nearly 3 per cent from the previous month
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This will allow people to make payments by just tapping their phones against the POS terminal.
National Payments Corporation of India (NPCI) has launched UPI Lite service to facilitate offline fund transfers for people with low or no internet...
UPI activation through Aadhaar is awaited as it will bring a larger number of people into the UPI ecosystem.
Some existing payment and cash solutions ensure digital transactions without the need for internet, smartphones or debit or credit cards
UPI 123Pay will allow customers to use feature phones for almost all transactions barring scan and pay even without an internet connection
Union Minister Ashwini Vaishnaw stated that the country incurred a record 423 crore digital transactions in November, computing to a total value of Rs 7.56...
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PhonePe has started charging processing fees ranging between Re 1 to Rs 2 per transaction for mobile recharges exceeding Rs 50.
Linkage of these fast payment systems will enable users to make instant, low-cost fund transfers on a reciprocal, cross-border basis.
The launch is expected to benefit more than 2,00,000 tourists from India who travel to Bhutan each year.
