E-wallets

Safety tips for crypto investors: Store long-term holdings in a cold wallet

Go with an exchange that offers security features such as two-factor authentication (2FA), withdrawal whitelist, and encryption

It is for RBI to deal with Paytm issue, says Financial Services Secy Joshi

Financial Services Secretary Vivek Joshi on Wednesday said it is for the Reserve Bank to deal with the Paytm issue and the government has nothing to do with the matter for now. He also said that Paytm Payments Bank Ltd (PPBL) is a small financial entity and there are no systemic stability concerns. Amid concerns over non-compliance, Reserve Bank of India (RBI) has taken various measures against PPBL wherein it will not be allowed to offer any services concerning deposits, prepaid instruments and e-wallet after February 29. The entity has also been directed to stop onboarding new customers. "It is action taken by the regulator. They regulate the banks. The government has had nothing to do until now when it comes to the actions taken against Paytm. And we believe that RBI must have taken the action in the overall interest of the consumer and the economy," Joshi told PTI in an interview. With regard to Foreign Direct Investment (FDI) in Paytm's payment aggregator subsidiary, he said

IRCTC eWallet: How to use eWallet for online train booking?

Leverage IRCTC eWallet to book train tickets online. It has several benefits, like you can check transaction history and wallet history, and use transaction password features as well

Jio Financial Services, HDFC Bank frontrunners to buy Paytm's wallets biz

Paytm has been in talks with JFSL since November last year and it reached out to HDFC Bank just before the RBI barred its Payments Bank from accepting more deposits from February 29

CAIT advises traders to switch from Paytm to other payment options

Traders' body CAIT on Sunday issued a cautionary advisory to traders to switch from Paytm to other payment options for business-related transactions following RBI curbs on Paytm wallet and bank operations. "The Reserve Bank of India has imposed certain restrictions, prompting CAIT to recommend that users take proactive measures to protect their funds and ensure uninterrupted financial transactions. Large number of small traders, vendors, hawkers and women are making payments through Paytm and as such RBI restrictions on Paytm could lead financial disruption to these people," the Confederation of All India Traders (CAIT) stated. Money laundering concerns and questionable dealings of hundreds of crores of rupees between popular wallet Paytm and its lesser-known banking arm had led Reserve Bank of India to clamp down on tech poster boy Vijay Shekhar Sharma-run entities, according to sources. The central bank has ordered Paytm Payments Bank Ltd (PPBL) to halt most of its business ...

Mobile wallets market in India to surpass $5 trn in 2027, says GlobalData

UPI has become one of the most preferred methods for day-to-day payments, said the report

Accept investments from KYC compliant e-wallets: Sebi to mutual funds

The use of e-wallets for MF investments was allowed in 2017 to promote digitisation

Indian crypto exchange WazirX moves funds after Binance cuts off service

Binance said it provided Zanmai wallet services "only as a tech solution for their operations of the WazirX exchange"

Anonymity achieved in all retail CBDC wallet-to-wallet dealings done so far

Around 2,000 transactions recorded in first three days of pilot; aim now is to erase digital trails between wallets

A step-to-step guide to transferring Amazon Pay balance to bank account

Note, however, that you can only do this if you have completed your KYC

Ola not obligated to deduct tax at source on payment to driver: ITAT

Tribunal says Ola is a mere intermediary; its role is limited to managing OLA app, facilitating transport services by the driver to the rider and payment collection via e-wallet on driver's behalf

RBI alerts public about Gurugram-based unauthorised wallet operator sRide

sRide is a carpooling mobile app that connects people within the community to share rides. It is present across four Indian cities with over one million rides offered and 8 cities in the US

PhonePe's revenue grew 85% to Rs 690 cr in FY21, losses drop by 44%

The 85% YoY revenue growth was due to a rise in transactions. PhonePe has a lion's share of the volumes on United Payment Interface and Bharat Bill Payment System

Investing in cryptos? Divide holdings between hot and cold wallets

Keep the cryptos required for trading in the former and the balance in the latter

E-wallets are similar to bank accounts, but more convenient: Experts

Will help those who can't ensure minimum balance

Official, private digital currencies can coexist, say IMF experts

The blog suggests a central bank digital currency may be designed to encourage the private sector to innovate on top of it

NPCI adds reloadable wallet feature in RuPay cards for offline transactions

The Covid-19 pandemic has accelerated the adoption of digital payments in India

This is how you can protect your e-wallet from new wave of KYC frauds

Since RBI has made KYC mandatory, many fraudsters use this as entry point

UP Police to expand cyber crime wings following spurt in online frauds

Senior police officials instructed to complete the preliminary rollout of the cyber cells by October 15

Relief to e-wallets: RBI extends KYC compliance norms by six months

The earlier deadline was February 28