While the volume of UPI transactions has been increasing, with a free-market model in UPI is continuing exponential growth, where pricing model and charges are determined by market forces.
Until now, transactions were being authenticated using the customer's Aadhaar number and fingerprint or Iris match in the UIDAI records
In a circular, the NPCI said the interchange fee of up to 1.1 per cent would apply to UPI transactions of more than Rs 2,000 through prepaid payment instruments (PPIs).
Unified Payments Interface has become the preferred mode of transaction for the majority of Indians since its launch in 2016 because of the many advantages it offers over other digital modes
Launched in 2016, UPI is India’s most popular instant payment system, already processing 60 per cent of all domestic payments in India and 40 per cent of instant payments processed globally
NPCI wants UPI service providers and online merchants to prominently display the payment option for customers.
RuPay's new CVV-less experience ensures that the cardholder will not have to reach out to their wallet or remember any card details, if they have saved their card on the ecommerce merchant
The move is expected to help in the development of new credit products on the existing UPI infrastructure and boost acceptance across the country.
Linking credit cards to make UPI payments is a game changer in digital payments as it offers the benefits of both credit cards and UPI, according to experts....
Sebi has released a consultation paper to discuss whether to block funds in a bank account rather than transfer them to a stockbroker or trading account for...
The National Payments Corporation of India (NPCI) has permitted the transfer of funds between NRE accounts and other permissible accounts endorsed under FEMA...
Although UPI has been around in India since 2016, it was only recently that the RBI allowed credit cards to be integrated to the increasingly popular payment...
The volume of UPI transactions in December increased by 7.12 per cent when compared to November, while the value of transactions increased by 7.73 per cent...
Commercial establishments can now also make their payments through Bharat BillPay enabled channels. In addition, Bharat Gas consumers will be able to book...
Customers can use UPI applications to withdraw cash from an ATM, thanks to the first Interoperable Cardless Cash Withdrawal (ICCW) solution created by the NCR...
While dominant players like PhonePe and Google Pay are seeking an extension of the deadline till January 2023, purportedly to safeguard their market share,...
A recent consumer focussed survey has revealed that a huge majority of Indians want the government and public sector undertakings to do away with convenience...
Now, you can use VoiceSe to make UPI payments on feature phones in regional languages. More languages to be included in payment mechanism soon
The value of UPI transactions during August this year relates to a total of 6.57 billion (657 crore) transactions, up from 6.28 billion (628 crore) in the...
The National Payments Corporation of India (NPCI) and various banks are ready to submit a final proposal regarding MDR charges on UPI-linked RuPay credit cards...
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
The National Payments Corporation of India (NPCI) has partnered with popular Indian rapper Badshah to curate a song to promote the UPI AUTOPAY feature
Sebi has decided to give individual investors the ability to block money through UPI when applying in public offerings of InvITs.
India’s instant payment solution, the UPI, processed Rs 10.41 lakh crore in 5.95 billion transactions in May 2022.
The government has withdrawn an advisory that cautioned people against sharing photocopy of their Aadhaar cards
