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BHIM
National Payments Corporation of India (NPCI) on Tuesday announced the incorporation of NPCI BHIM Services Ltd (NBSL) (earlier known as Bharat Interface for Money' BHIM) as a wholly owned subsidiary. This development aims to meet the growing demand for digital transactions and evolving market expectations while keeping pace with innovation and rapidly shifting customer preferences, NPCI said in a statement. Additionally, it aims to promote financial inclusion, it said. This development not only aims to strengthen India's own digital payment ecosystem but also reflects a sense of national pride and significance in developing a sovereign digital payments framework, it said. The incorporation of NBSL underscores NPCI's commitment to facilitate digital payments and financial inclusivity across the country and beyond, it added.
ONDC is working on a mechanism to enable merchants to make their products visible globally and expects international transactions on the platform soon, ONDC Managing Director and Chief Executive Officer T Koshy said here on Monday. "There is an interest... and we are enabling merchants to make their products visible globally. We expect to... formally inaugurate international transactions (on the ONDC) in the SME forum next week," Koshy said at the DPG Dialogue here. The ONDC model is meant to protect the interest of both buyers and sellers, Koshy said. "If I come on the platform as a buyer looking for a mobile phone, (a platform owner's) job is to look at the buyer's interest... "If you're a seller, the platform should try to say how to present yourself... in the best way... so that you are more appealing to the buyer network," Koshy said. The ONDC top boss also hinted at the possibility of exploring a collaboration with Bhashini, an AI-powered language translation platform. "As
The Madras High Court has ordered maintenance of status quo against digital payment app MobilePe and its group companies in the matter of offering unified payments interface (UPI) and Bharat interface for money (BHIM) services. Justice M Sundar granted the injunction while passing interim orders on an application arising out of a civil suit from PhonePe on October 19. In its suit, PhonePe contended that the defendant companies had infringed upon its trademark. The judge found the logos of the plaintiff company PhonePe and the defendant companies (MobilePe) were similar. The plaintiff company made out a prima facie case of possible deception, the judge said and passed the interim order and issued notice to the defendant companies returnable by November 2.