Page 2 - Google Pay

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

Industry keenly awaiting implementation of 30% UPI market share cap by NPCI

With extended deadline for 30 per cent UPI market ceiling by NPCI approaching, industry players are keenly awaiting the implementation and measures to achieve the cap from January 1. The National Payments Corporation of India (NPCI) in December 2022 extended the deadline for third-party UPI players to meet its 30 per cent volume cap in digital payment transactions by two years to end December 2024. Presently, third-party app providers (TPAP) like Google Pay and Walmart's PhonePe have a majority 85 per cent share in UPI-based transactions. NPCI runs the Unified Payments Interface (UPI) used for real-time payments between peers or at merchants' end while making purchases. According to sources, NPCI would spell out ways to implement the 30 per cent UPI market ceiling in a bid to minimise concentration risk. One option would be to stop on-boarding of new customers for those who have higher than 30 per cent market shares in UPI transaction, sources said, adding it can be done in a phase

PhonePe, Google Pay creating a duopoly in India's UPI space? NPCI to check

Google Pay and PhonePe, together account for 86% of UPI transactions by volume in India and are also expanding to offer UPI services abroad

Amazon Pay to ramp up Smart Stores service partnership to 150 brands

The company has launched 18,000 Smart Stores in India since its inception in 2019

Google, Walmart gain fintech users from India as Paytm faces restrictions

Paytm's decline suggests consumers are moving usage to alternative services even before any disruption to its systems

Google blocks RCS messaging on rooted Androids to prevent spam on platform

Google said that the step has been taken as a large volume of RCS spam comes from automation, which typically relies on modifications to the sending device

Google Pay SoundPod: Here is everything about Paytm Soundbox alternative

Google Pay SoundPod is an audio device that helps merchants track QR code payments with audio alerts when a payment is received

Competitors Google Pay, PhonePe and BHIM go all out for Paytm user base

Players such as Google Pay, PhonePe, and even banks like HDFC and State Bank of India (SBI) are said to be deploying several thousand 'feet on the street' or salesforce to attract merchants

PhonePe adds former revenue secretary, 2 Walmart executives to its board

The strengthening of PhonePe's board comes at a time when the government is tightening the regulatory framework. PhonePe's rival Paytm is already facing multiple issues

Highlights of the day: Delhi airport sees 13 flight diversions on Feb 1

From the delay in train, flight services to the updates about the interim budget 2024, catch all latest news here

Google Pay signs pact with NPCI to expand UPI payments outside India

Google India Digital Services and NPCI International Payments Ltd (NIPL) have signed an agreement that will help expand UPI payments to countries outside India. The memorandum of understanding (MoU) will enable Indian travellers to make payments in other countries via Google Pay (also known as GPay), eliminating the need to carry cash or resort to international payment gateways. "The MoU has three key objectives. First, it seeks to broaden the use of UPI payments for travellers outside of India, enabling them to conveniently make transactions abroad. Second, the MoU intends to assist in establishing UPI-like digital payment systems in other countries, providing a model for seamless financial transactions. Lastly, it focuses on easing the process of remittances between countries by utilizing the UPI infrastructure, thereby simplifying cross-border financial exchanges," Google Pay said in a statement. The deal focuses on easing the process of remittances between countries by utilising

Sequoia-backed mobile wallet Mobikwik selects banks for $84 million IPO

The Gurugram-based fintech firm is working with DAM Capital Advisors Ltd and SBI Capital Markets Ltd for preparations for its listing

Alert | Avoid these apps while using Google Pay

With Pixel phones, Google set to be trusted Make in India partner

Tech giant commits to roll out first locally made Pixel phone by 2024

P2M transactions to make 75% of all UPI transactions by 2025: Report

The average ticket size of UPI in the first six months of 2023 was 10% lower than the same period last year showing its growing penetration and increasing adoption of small payments

Delhi HC dismisses 2 PILs against operations of Google Pay over violations

The Delhi High Court has rejected two public interest litigations seeking directions to cease the operations of Google Pay for alleged violation of regulatory and privacy norms in the country. Petitioner Abhijit Mishra alleged that the operations of Google Pay in India as a payment system provider were unauthorised as it did not have the necessary permission. Dismissing the petitions, a bench headed by Chief Justice Satish Chandra Sharma said Google Pay is mere third-party app provider which requires no authorisation from RBI under the Payments and Settlement Systems Act (PSS Act) and there was no merit in the pleas. The petitioner claimed that Google Pay did not find a mention under the list of entities authorised under the PSS Act and other statutory regulations for setting up and operating a payment system in India. Concerns were also raised in relation to Google Pay's unfettered access to its customers' personal information such as Aadhaar, PAN and other transaction details. I

Google Pay rolls out UPI LITE feature for faster, low-value transactions

Users can download the Google Pay app from the Play Store or App Store

Google Pay allows users to validate UPI using Aadhaar authentication

Company says it will not store Aadhaar numbers and will act as a facilitator for validation

Google Pay allows UPI payments using RuPay credit cards; check details here

This feature is now available to RuPay credit card holders of Axis Bank, Bank of Baroda, Canara Bank, HDFC Bank, Indian Bank, Kotak Mahindra Bank, Punjab National Bank, and Union Bank of India

Zomato begins its own UPI offering, Flipkart expected to follow soon

The report citing sources added that e-commerce platform Flipkart is also hopping on the bandwagon and has started its work for UPI offerings