The Reserve Bank of India (RBI) has increased the ceiling for offline payment transactions to Rs 500 to fortify small-value digital payments using instruments like UPI Lite.
Between January 2017 and January 2023, the value of UPI transactions has increased from just Rs 1,700 crore to Rs 12.98 lakh crore
"Many experts are estimating that very soon India's digital wallet transactions are going to overtake cash transactions," he said
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
The UPI-PayNow integration will allow Indians to make, receive instant transfers and payments in Singapore without having to board on to the PayNow system. Linkage launched by Reserve Bank of India governor and his...
The machine was developed in-house and a pilot project was launched, which is now being expanded, Sankar said, adding that the newly announced project will improve the distribution of coins in the system
The NPCI, with effect from April 1, 2023 introduced an interchange fee of 1.1 per cent on transaction amount for usage of prepaid payment instruments for making payments through UPI to merchants
This is similar to Application Supported by Blocked Amount (ASBA)-like facility already available for the primary market which ensures that money from an investor gets moved only when an allotment happens
The National Payments Corporation of India (NPCI) in a circular said it has been receiving requests for allowing non-residents to use international mobile...
During the month, 782 crore transactions in volume terms were done on the platform, which was launched in 2016
The National Digital Health Mission and the government were working to develop a UPI-like platform for various sectors
Speaking at an event organised by brokerage Motilal Oswal, Chaudhry further said businesses like Unified Payments Interface (UPI) are loss-making and also lack...
The ONDC will offer small retailers an opportunity to provide their services, goods, products to the buyers across the country through an e-commerce system,...
The UPI Autopay, which was introduced by NPCI under UPI 2.0, allows users to make regular payments using any UPI application that supports this feature.
This was made possible courtesy of a greater reliance on digital payments by people, the report by economists at SBI said, adding that the Indian economy is...
Fintech companies welcome initiative as UPI has brought many business and consumers into mainstream banking channels. According to NCPI, approximately 6.28...
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...
Investors can use their UPI apps to mandate an AutoPay facility with CAMSPay’s UPI AutoPay for their SIP contributions in Tata Mutual Fund. CAMS has now...
RBI Governor Shaktikanta Das announced that such linking will be possible starting with the credit cards issued by the RBI-promoted National Payments...
