Google Pay

The newly introduced fee ranges from 0.5 per cent to 1 per cent of the transaction value, in addition to the applicable GST

The apex payments body recorded 16.73 billion transactions in December 2024. UPI registered over 172 billion transactions in 2024 alone

This is the first time in many months that a firm outside the top three has achieved this

This extension provides significant relief to market leaders PhonePe and Google Pay, which dominate UPI transactions in India

The mandate, which was to take effect from the end of 2024, will now kick in at the end of December 2026

Currently, UPI payments are interoperable such that a user can use any TPAP to transfer funds

Iran's government on Tuesday said it had lifted a ban on access to WhatsApp and Google Play after more than two years, the official IRNA news agency reported. The report said the country's Supreme Council of Cyber Space made the decision in a meeting led by reformist President Masoud Pezeshkian, who has vowed to remove restrictions on social media. Iran's telecommunication minister Sattar Heshemi in a post on X called the decision a first step in removing restrictions and said the path will continue" indicating the possibility of unblocking other services. Many people reached by The Associated Press across the capital, Tehran, and other cities said they had access to the services on computers but not yet on mobile phones. WhatsApp has been the third most popular messaging platform in Iran after Instagram and Telegram. The ban on WhatsApp and Google Play was put in place in 2022 during mass protests against the government over the death of a woman held by the country's morality po

Partnership will offer 'affordable interest rates and flexible usage options'

At 10th edition of Google for India, fintech major announced credit partnerships with two lenders: Aditya Birla Finance Limited for unsecured loans and Muthoot Finance for gold-backed secured credit

NPCI is considering increasing the allowable market share to to over 40% from the previously proposed 30% cap

UPI Circle is designed to assist individuals who may not have a bank account or find it inconvenient to manage digital payments

UPI Circle on Google Pay is a feature designed to help users make digital payments without needing to link their own bank account

"In the long run, the payments ecosystem has to be viable in a country of our scale," said Bulusu

Bulusu explains the rationale behind the need for merchant discount rate (MDR) for UPI, the company's focus on Indian languages, and credit strategy

These payment firms are collaborating with the RBI and the NPCI and are anticipated to introduce e-rupee access within the next three to four months, according to a Reuters report

Operated by state-backed NPCI, UPI is a system that allows users to make instant money transfers by linking banks with fintech apps such as Paytm, PhonePe and Google Pay

IMPS down by 7%, FASTag 4%; but Aadhaar Enabled Payment System (AePS) see a 11% jump in volume & 7% in value

Users will now manage payment methods, tap to pay at stores, and pay online directly through Google Wallet

Google Pay, PhonePe, and Paytm controls over 90 per cent of UPI transaction volume and value in India

This partnership comes nearly three weeks after Google announced the launch of its digital wallet application in India