Bhim

No card, phone, or cash needed! This tech lets you pay with just your face

SmilePay replaces the need for cash, cards, or mobile devices, instead relying on advanced facial recognition software

NPCI incorporates NPCI BHIM Services Ltd as wholly-owned subsidiary

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.

BHIM to challenge Google Pay, PhonePe e-commerce dominance through ONDC

BHIM will expand its presence in e-commerce by offering a diverse range of products and services, including food and beverages, groceries, fashion, and apparel to its user base

NPCI appoints Ajay Kumar Choudhary as non-executive chairman of board

Choudhary succeeds Biswamohan Mahapatra who was appointed non-executive chairman in 2018

Expecting international transactions on ONDC soon: CEO Koshy

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

SBI rolls out BHIM SBIPay for S'pore-India transfer after UPI-PayNow linkage

Other than SBI, Indian Bank, ICICI Bank and Indian Overseas Bank have been roped in for inward and outward remittances while Axis Bank and DBS India will facilitate inward remittances only

Cabinet clears Rs 2,600 cr to promote RuPay debit card, BHIM transactions

The scheme was first announced in FY22 Budget with a financial outlay of Rs 1,300 crore

Madras HC orders status quo against digital payment app MobilePe

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.

Value of UPI transactions declined to Rs 8.27 trillion in Feb: NPCI data

There were a total of 452 crore (4.52 billion) transactions in February 2022

Govt, RBI need to share cost of maintaining UPI infrastructure: Report

The IIT-Bombay report further said UPI as a digital payments platform increases efficiency towards tax compliance, and provides overall convenience for public good

Lockdown impact: Digital transactions nosedive in April, shows NPCI data

The value of IMPS (Immediate Payment Service) transactions in April fell to about Rs 1.21 trillion in April, from about Rs 2.02 trillion in March

Google Pay leads UPIs in digital payments, Amazon Pay most favoured wallet

All the findings in this report are based on transactions held on the Razorpay platform from January 2018 to December 2019

Between MyGov and Bharat Net, here are the highs and lows of Digital India

Schemes that address clear market demand have clicked; those that focus on behavioural change, not so much

As UPI gears up for global markets, Indian fintechs smell opportunity

Indian fintechs have already started getting enquires from other developing economies to customize UPI for them. Expect UPI launch by April 2020

MeitY to allow repeat transactions on BHIM to be eligible for cashback

In the earlier BHIM cashback scheme, merchants were eligible for cashback of up to Rs 1,000 in a month for 20 unique transactions

BHIM app download mark reaches near 20 million

Modi launched app for fast and secure cashless transactions using mobile phones

Narendra Modi to launch new BHIM platform to push digital payments

Modi will felicitate winners of mega draw of two major incentive schemes to promote digital payments

BHIM app crosses 17 million downloads: NITI Aayog

BHIM is a platform designed to make payment through UPI and USSD modes simpler

BHIM app users have spent Rs 361 cr so far: Govt

Minister says 3% of dealings in India are digital; at 22%, black money will be curbed

NPCI expects all state-run banks to join BHIM by month-end

As on date, 37 banks are on the BHIM platform