NPCI

In October, the company was the 12th-largest player on UPI

Faced with a jump in costs and transaction failures, bank agents are demanding an upward revision of per-transaction charges to 1 per cent or Rs 21, whichever is lower

UPI Lite allows low-value transactions without requiring a PIN and are carried out without utilising a remitter bank's core banking systems

Various payment methods such as UPI, internet banking, and prepaid payment instruments (PPIs) can be used to pay bills

She has three decades of experience primarily in the financial services sector. She also worked with Kotak Mahindra Bank, Citi and HSBC prior to joining NPCI

The approval may lead to an increase in company's UPI transaction volumes

At Terminal 3 of New Delhi's Indira Gandhi International Airport, Delhi, only select cardholders will have access to RuPay Exclusive Lounge

At present, most UPI debit transactions continue to remain free, with payment-processing expenses borne by fintechs and banks

Earlier in the year, NIPL had agreed to develop digital payments systems for Peru and Namibia, using UPI as a blueprint

Earlier this year, the NIPL signed deals with the central banks of Peru and Namibia to help them build real-time payment systems similar to UPI

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

RBI has raised UPI transaction limit to Rs 5 lakh for tax payment, effective from Sunday

Commercial banks to be stakeholders in NPCI-like body

As an agent institution of BBPS, the company processed over Rs 15,000 crore in bill payments across banks in July

Primary users can link their UPI accounts with secondary users, granting them the ability to make payments on their behalf

Branded as Swiggy UPI, the feature aims to cut on the transaction time from over 15 seconds to just 5 seconds

Former banker Lalitha Nataraj will head the new subsidiary as its chief executive officer (CEO). Nataraj has previously worked with IDFC FIRST Bank and ICICI Bank

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.

Lalitha Nataraj previously worked with IDFC FIRST Bank and ICICI Bank

Under the arrangement, Indian users in Nepal can make instant UPI payments across stores in Nepal using UPI-enabled applications