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Digital Payments

India In Line With RBI’s Vision, Records 20.57 Billion Online Payments in Q2 2022

UPI trumps credit and debit cards at 34 per cent against 8 per cent in terms of volume at merchant transactions. UPI sees increasing usage in micro transactions over cash as well, says Worldline research report

05 October 2022

UPI’s Universality On Rise: Now, Indians Can Pay In Euros In France With UPI, RuPay Cards

No UPI Transaction Charges, Says Finance Ministry; But Where Did The Confusion Start?

Fintech companies welcome initiative as UPI has brought many business and consumers into mainstream banking channels. According to NCPI, approximately 6.28 billion UPI transactions were reported in July 2022, amounting to...


UPI Clocks 6.28 Billion Transactions, Gears Up For Greater Financial Inclusion In India

The UPI network processed 6.28 billion transactions worth Rs 10.63 trillion in July 2022. The UPI-credit card is widely expected to give a further boost to UPI’s capabilities and achieve its goal of processing a billion...


93% Indians Give Thumbs Up To Digital Payments, Say As Secure As Cash: Global Survey

A new global survey across 40 nations by Mastercard has revealed that 93 per cent Indians have used digital payment methods in the last one year, and this number is set to grow further in the next year. Of this, about 50 per...

29 September 2022

Why Payment Systems Should Have Both Security And Convenience As Financial Frauds Rise?

Why Payment Systems Should Have Both Security And Convenience As Financial Frauds Rise?

Britain’s Finextra Research has said that fraudsters would keep looking for ways to rob consumers’ money in the light of higher inflation; hence, payment systems should be robust.


Why Did RBI’s Digital Payments Index Jump To An All-Time High In March?

The RBI data shows a significant growth in digital payments in India, but what factors may have contributed to their rapid adoption across the country?

29 July 2022

RBI Notifies Category-I Banks To Work On Cross Border Payment System Through Bharat Bill

The RBI has notified all category-I authorised dealer banks to implement the process for enabling Bharat Bill Payment System to process cross-border transactions

16 September 2022

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Digital Payments Record 29% Annual Growth At March-End 2022: RBI Data

The newly constituted RBI's digital payment index (RBI-DPI) stood at 349.3 in March 2022 against 304.06 in September 2021 and 270.59 per cent in March 2021

27 July 2022

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22 July 2022
Cash Usage Will Come Down Only When A Third Of Population Uses Digital Payments: NPCI Chief

Cash Usage Will Come Down Only When A Third Of Population Uses Digital Payments: NPCI Chief

Asbe said there will be ten times growth in the transaction volumes and Indians will be executing a billion digital payments transaction in a day


27 June 2022
Indians Made 9.36 Billion Transactions In Q1 2022, 64% Of Them Through UPI

Indians Made 9.36 Billion Transactions In Q1 2022, 64% Of Them Through UPI

Credit cards, however, remain the preferred mode for high value transactions, according to the Worldline digital payments report. They accounted for 7 per cent...


20 June 2022
RBI Expects UPI To Grow At 50% CAGR, IMPS, NEFT At 20%; Debit Cards Usage to Beat Credit Cards

RBI Expects UPI To Grow At 50% CAGR, IMPS, NEFT At 20%; Debit Cards Usage to Beat Credit Cards

RBI’s Payment Vision 2025 document sets goalposts to boost the digital payments ecosystem with changes proposed relating to UPI, NEFT, IMPS


17 June 2022
RBI Payments Vision 2025 Aims 3-fold Increase In Digital Payments

RBI Payments Vision 2025 Aims 3-fold Increase In Digital Payments

The document also talks about ring-fencing of domestic payment systems, including the need to mandate domestic processing of payment transactions, in view of...


10 June 2022
Linking Credit Cards To UPI To Increase Card Usage In India, Says Goldman Sachs Report

Linking Credit Cards To UPI To Increase Card Usage In India, Says Goldman Sachs Report

Linking credit cards to UPI is a game changing move by the Reserve Bank of India that could increase credit card penetration and expand the scope of digital...


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03 June 2022
Indian Digital Payment Industry Projected To Reach $10 Trillion By 2026, Says Report

Indian Digital Payment Industry Projected To Reach $10 Trillion By 2026, Says Report

A recent study by Phone Pe and Boston Consulting Group has revealed that almost 75 per cent of people in India will use digital payments by 2026, and merchant...


02 June 2022
India’s Digital Payments Industry To Touch $10 Trillion By 2026: Report

India’s Digital Payments Industry To Touch $10 Trillion By 2026: Report

The PhonePe-BCG report estimated a seven-fold growth in merchant payments to $2.5-2.7 trillion by 2026 against the present $0.3-0.4 trillion, which will drive...


27 April 2022
PM SVANidhi Scheme To Continue Till December 2024

PM SVANidhi Scheme To Continue Till December 2024

The budget for the promotion of digital payments, including cashback to the vendors, has also been enhanced.


15 April 2022
Blockchain Is Poised To Revolutionise Lending Fintech

Blockchain Is Poised To Revolutionise Lending Fintech

Blockchain improves transparency and delivery timeframe of fintech transactions, thus building trust between users and service providers


30 March 2022
RBI's New Geo-Location Framework Aims To Provide Greater Access to Digital Payments

RBI's New Geo-Location Framework Aims To Provide Greater Access to Digital Payments

Asks banks and non-bank payment system operators to submit nodal officer's contact details by March 31 to facilitate geo-tagging service for digital payments


19 March 2022
NPCI Launches UPI Lite For Small-Ticket Offline Digital Payments; Here’s How It Works

NPCI Launches UPI Lite For Small-Ticket Offline Digital Payments; Here’s How It Works

National Payments Corporation of India (NPCI) has launched UPI Lite service to facilitate offline fund transfers for people with low or no internet...


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07 March 2022
Digital Rupee: The CBDC Frontier For Payment Systems

Digital Rupee: The CBDC Frontier For Payment Systems

The Indian Central Bank Digital Currency (CBDC), Digital Rupee, creates a bridge between cryptocurrencies and traditional currency. But its benefits and risks...


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