Payments Regulator

The proposal marks a long-anticipated and ambitious move by CFPB Director Rohit Chopra to assert the agency's full authority over Big Tech

Reflecting increased automation in the payments system in India, a survey on Tuesday said 84 per cent of businesses have partially automated payments to suppliers. The survey commissioned by American Express with the Centre for Economics and Business Research (CEBR) is based on responses from 513 entities across sectors and industries included sole enterprises, micro businesses, small and medium businesses as well as large businesses. As per the survey, 34 per cent businesses that haven't fully automated their payments are seeking partners for the purpose. "A substantial 84 per cent of Indian businesses have taken steps to partially automate payments to their suppliers, with an impressive 39 per cent achieving full automation of their payment processes," Manish Kapoor, Vice President and Head, Global Commercial Services (GCS), American Express Banking, India, said. As the business landscape becomes increasingly competitive, Kapoor said, "The need to adopt smarter and more efficien

NPCI International Payments Ltd, the international arm of the National Payment Corporation of India, will ink an agreement with Al Etihad Payments on Thursday in Abu Dhabi to facilitate cross-border transactions, an official said. The MoU (Memorandum of Understanding) will be signed on development of domestic card scheme of UAE based on India's RuPay debit and credit card stack, the official added. The agreement will be signed in the presence of Commerce and Industry Minister Piyush Goyal, who is leading a business delegation to Abu Dhabi from October 5 to October 6. Goyal will co-chair the eleventh meeting of India-UAE High-Level Task Force on Investments along with Sheikh Hamed Bin Zayed Al Nahyan, Managing Director of Abu Dhabi Investment Authority. The meeting will be attended by Mohamed Hassan Alsuwaidi, Minister of Investment, MD and CEO of ADQ; Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade; Khaled Mohamed Balama, Governor of the Central Bank of the UAE; and

/ -- Cashfree Payments, India's leading payments and API banking company, has partnered with Shopify to launch onsite payments with cards for Indian merchants. With onsite payments, merchants can offer a seamless and swift checkout experience to customers by directly collecting payment information on their website, eliminating the need for redirection to a third-party page. This streamlined process reduces transaction time and minimises customer drop-offs, enhancing revenue and payment experience. Previously, customers were required to leave the merchant's website and undergo an additional step to complete their payment, which delayed order completion and resulted in lower intent customers dropping off. Onsite payments alleviate multiple issues, enabling customers to complete their transactions directly on the merchant's website. This ensures a quicker, smoother, and more controlled checkout experience for all parties involved. Onsite Payments on Shopify were initially exclusive to .

Tax incentives from central as well as state governments and flexible payment plans from builders will motivate prospective homebuyers to buy residential properties, according to a survey by Housing.com and Naredco. Proptech firm Housing.com and realtors' body Naredco on Thursday released their latest survey report titled "Residential Realty Consumer Sentiment Outlook H2 2023 - Trends and Insights". The online survey engaged over a thousand potential homebuyers. Tax incentives, such as stamp duty and GST waivers, along with flexible payment plans, are identified as the primary motivators for homebuying. They are also inclined towards additional perks offered by developers, the survey found. According to the survey, 48 per cent of respondents favour real estate investment, significantly outperforming other asset classes such as stocks, fixed deposits and gold. The data indicates that 18 per cent prefer the stock market, 19 per cent opt for fixed deposits, and 15 per cent choose ...

Last month, RBI extended the deadline to apply for licence at the behest of IBA

The clarification has come a week after the government said the RBI would examine concerns around its strict data-localisation guidelines

Creation of another regulator for payments has its own challenges, especially lack of expertise. Such a body can also become playground for senior bureaucrats looking for sinecures post retirement