Page 9 - Digital Payments

Fintech firm udaanCapital says it enabled Rs 2,200 cr credit to retailers

Company says 'working capital availability in the country is huge as small businesses adopt digital payments

Other nations showing interest in India's payment ecosystem: FM Sitharaman

India leading the way in building an inclusive financial world, she says

Open source helped transform our tech landscape: NPCI App development head

Says it brought flexibility while reducing downtime, costs and dependence on third-party vendors

Walmart-backed PhonePe asks NPCI to extend the volume cap deadline

With this move, NPCI was aiming to reduce the concentration risk in the system and potentially curb the dominance of two large players while ensuring other players also get a chance to grow

Consumers dislike convenience fees for digital payment of services: Survey

People prefer making transactions online but regard service charges as unjustified and costly

UPI processes over 6.5 billion transactions in August worth Rs 10.72 trn

Digital payment transactions value through UPI rose to Rs 10.73 lakh crore in August this year, up marginally from the previous month, data showed on Thursday. In July 2022, the UPI-based digital transaction value stood at Rs 10.63 lakh crore. The value of UPI transactions during August this year relates to a total of 6.57 billion (657 crore) transactions, up from 6.28 billion (628 crore) in the preceding month, as per the data released by the National Payments Corporation of India (NPCI). In June, there were 5.86 billion transactions, valued at worth Rs 10.14 lakh crore. Of the other data sets on the NCPI framework, the instant transfer-based IMPS clocked transactions worth Rs 4.46 lakh crore in August, relating to a total of 46.69 crore transactions. In July, it stood at Rs 4.45 lakh crore in value terms through a total of 46.08 crore transactions. The NETC FASTAG for automatic toll deduction at toll plazas witnessed transactions worth Rs 4,245 crore in August, up from Rs 4,162

RBI to set up fraud registry to check banking frauds: Executive Director

Payment system participants will be provided access to this registry for near-real time fraud monitoring. The aggregated fraud data will be published to educate customers on emerging risks

Statsguru: Six charts explain the rise of UPI transaction volumes

Smaller transactions dominate the system. Nearly seven out of every 10 transactions initiated via UPI are for less than Rs 500

Vijay Shekhar Sharma to continue as Paytm's MD & CEO for another 5 yrs

Around 99.67% shareholders voted in favour of his reappointment

RBI moots 'tiered' charge on payments through UPI, seeks public feedback

The RBI has asked for feedback and suggestions before October 3

'Aspirational India' entering 5G era, optical fibre to reach villages: Modi

PM's Independence Day speech celebrates start-up entrepreneurs in smaller cities and towns

India leads the world in real-time digital payments, says PM Modi

Success shows 'innovation prowess' of indigenous payment structure and fintech companies, he says

The path to greater financial inclusion

Data for 2021 suggest that at least 76 per cent of the global population holds a bank account

42% Indians experienced financial fraud in last three years: Report

While digitisation of payments and banking has benefitted both common people and government, financial fraud has been on the rise, with nearly 42 per cent of Indians becoming victims in last 3 years

BharatPe founder Bhavik Koladiya quits, months after Ashneer Grover's exit

According to a media report, Koladiya's departure is due to a disagreement between him and BharatPe as well as the company's Chief Executive Officer Suhail Sameer.

UPI records 6 billion transactions in July, highest ever since 2016

UPI crossed 1 billion transactions for the first time in October 2019, almost three years after its launch

Internet usage grows faster in rural India; knowhow still a deterrent

346 million make online transactions for e-commerce and digital payments, with coronavirus boosting practice

Digital payments record 29% annual growth at March-end 2022: RBI data

The newly constituted RBI's digital payment index (RBI-DPI) stood at 349.3 in March 2022 as against 304.06 in September 2021 and 270.59 in March 2021

Panel urges plan to help local vendors build ONDC-compatible technical tool

Says no clarity on ONDC network's liability in case a consumer is delivered substandard products; local businesses will also find it hard to compete with e-commerce giants

Phishing in troubled waters? Take cover in cyber liability, say experts

Protect family's data, finances; consider floater cover as well