Partnership will offer 'affordable interest rates and flexible usage options'
At 10th edition of Google for India, fintech major announced credit partnerships with two lenders: Aditya Birla Finance Limited for unsecured loans and Muthoot Finance for gold-backed secured credit
NPCI is considering increasing the allowable market share to to over 40% from the previously proposed 30% cap
UPI Circle is designed to assist individuals who may not have a bank account or find it inconvenient to manage digital payments
UPI Circle on Google Pay is a feature designed to help users make digital payments without needing to link their own bank account
"In the long run, the payments ecosystem has to be viable in a country of our scale," said Bulusu
Bulusu explains the rationale behind the need for merchant discount rate (MDR) for UPI, the company's focus on Indian languages, and credit strategy
These payment firms are collaborating with the RBI and the NPCI and are anticipated to introduce e-rupee access within the next three to four months, according to a Reuters report
Operated by state-backed NPCI, UPI is a system that allows users to make instant money transfers by linking banks with fintech apps such as Paytm, PhonePe and Google Pay
IMPS down by 7%, FASTag 4%; but Aadhaar Enabled Payment System (AePS) see a 11% jump in volume & 7% in value
Users will now manage payment methods, tap to pay at stores, and pay online directly through Google Wallet
Google Pay, PhonePe, and Paytm controls over 90 per cent of UPI transaction volume and value in India
This partnership comes nearly three weeks after Google announced the launch of its digital wallet application in India
Nvidia plans new AI chips every year. The POCO F6 has been launched in India. Kia has introduced the EV3, featuring a new AI assistant powered by OpenAI's ChatGPT
Google said the new features on its payment platform, Google Pay, will enhance users online shopping experience and can be utilised at the checkout
NPCI, which has a regulatory mandate from the central bank, announced the 30% cap in 2020 but later extended the deadline by two years to the end of 2024
Eight months left for the implementation deadline, the National Payments Corporation of India (NCPI) may be favouring growth over concerns about market domination
Unlike the Google Pay, which is a payments platform, Google Wallet offers options to save digital documents, gift cards, tickets, and boarding passes for quick access
Paytm's UPI market share plummets; Google Pay and PhonePe continue to dominate digital payments in India
Google has introduced a private digital wallet for Android users in India, allowing users to securely store cards, tickets, passes, keys and IDs, an official said on Wednesday. Google Wallet can be downloaded from Play Store and would allow users to store their debit cards, credit cards, loyalty cards, and gift cards among other things. It is different from Google Pay app which helps manage money and finances. "Google Pay is not going anywhere. It will remain our primary payments app. Google Wallet is specifically tailored for non-payment use cases," said Ram Papatla, GM & India Engineering Lead, Android at Google.