Page 3 - Payment

Cashfree Payments, Global Trade Plaza partners to lift cross-border payment

Exporters will also receive auto-generated foreign inward remittances advice (e-FIRA), the company stated

Rajasthan announces one-time payment of Rs 5,000 for registered gig workers

Rajasthan Chief Minister Ashok Gehlot on Thursday announced a one-time payment of Rs 5,000 for gig workers to purchase helmets, uniforms and other items of daily use when they register with the state government. The announcement will benefit delivery personnel working with companies such as Ola, Uber, Swiggy and Zomato, among others. "The gig workers will get Rs 5,000 as a one-time payment on registration," Gehlot said during a function to release the "Mission 2030" document in Jaipur. He also announced a 90 per cent fare exemption on Rajasthan Roadways buses for those with monthly passes. The government will also set up a ministerial employees directorate to handle all works related to ministry staff -- including promotions, transfers and postings -- in different departments, the chief minister announced.

CBDC can fix cross-border payment problems: RBI Governor Shaktikanta Das

RBI governor flags issues of high cost, low speed, limited access

FSS announces launch of its new payments technology platform 'Blaze'

FSS has made the Blaze platform accessible to customers in India, the Middle East, and Africa, and has plans to introduce it in additional markets in the coming months

Mastercard, Binance to end crypto card partnership from September 22

The Binance cards allow users to make payments in traditional currencies, funded by their cryptocurrency holdings on the exchange

German embassy praises India's UPI, shares video of minister making payment

The German embassy on Sunday described digital infrastructure in India as one of its success stories and shared a footage of its Digital and Transport Minister Volker Wissing using UPI at a vegetable shop here. "One of India's success story is digital infrastructure. UPI enables everybody to make transactions in seconds. Millions of Indians use it," the embassy said on X. It said Germany's Federal Minister for Digital and Transport Volker Wissing was able to experience the simplicity of UPI payments first hand and is very fascinated. Unified Payments Interface (UPI) is an instant payment system.

Cash has no substitute: It is inclusive and the original instant payment

It gives freedom of choice to consumers, cuts across economic status and geographies

LIVE: Maharashtra's new Deputy CM Ajit Pawar gets Finance and Planning dept

Catch all the latest updates from across the globe here

Fintech Stripe debuts charge card program in US; soon to launch in UK, EU

Stripe-issued cards would now help companies distribute virtual or physical charge cards to their customers that will allow them to spend on credit rather than using the funds in the accounts

Delhi Traders see rush of customers with Rs 2,000 notes, while UPI declines

Traders in the national capital are amused as the majority of customers are bringing only Rs 2000 currency notes while UPI payments have declined. Traders said that they are accepting Rs 2000 currency notes even as many people are buying stuff of just Rs 100-200 to get rid of the currency notes after the Reserve Bank in a surprise move on Friday announced the withdrawal of the note from circulation. A trader in Sarojini Nagar market said that he hadn't seen Rs 2000 currency notes in past months but now every other person is bringing this currency note for buying goods (Itne time see (Rs) 2000 ke note nahi dekhe the, aur ab har dusra banda yehi note la rha hai"). People seem to get rid of Rs 2000 currency notes instantly even as the central bank gave the public time till September 30 to either deposit such notes in accounts or exchange them at banks. Unlike the November 2016 shock of demonetisation, when old Rs 500 and Rs 1,000 notes were invalidated overnight, the Rs 2,000 currency

NPCI's RuPay goes live on CVV-less payments for tokenized cardholders

The National Payments Corporation of India (NPCI) on Monday said RuPay has now introduced the CVV (Card Verification Value) free payment experience for its debit, credit and prepaid cardholders who have tokenized their cards on the merchant application or webpage. This new CVV-less experience ensures that the cardholder will not have to reach out to their wallet or remember any card details, if they have saved (tokenized) their card on the ecommerce merchant which supports this feature, NPCI said in a statement. Tokenization is a simple technology to secure card transactions without sharing the clear or real card details with the merchants. When a cardholder opts to save their card for a domestic ecommerce transaction, they authenticate the transaction through the card details (Card number, CVV, Card expiry date) as a one time activity followed by entering the OTP (two-factor authentication), the details are then Tokenized and saved with the merchant, it said. This safeguards the c

Meta tests views-based creator payments to compete with rival TikTok

Meta forecasts it can close that monetization gap by the end of this year or early next year

Razorpay sets up advisory board, ropes in former RBI dy governor as chair

Payment gateway and neo-banking platform Razorpay has roped in former RBI deputy governor NS Vishwanathan and former State Bank of India managing director Arijit Basu to lead its newly-formed advisory board. The founding independent members of the board also include retired civil servants -- Aruna Sundararajan, former Secretary, Ministries of Steel, IT, and Telecom, GoI (Member) and KP Krishnan, former Secretary, Ministry of Skill Development and Entrepreneurship (Member). The board has been set up to assist the fintech unicorn develop long-term strategies, anticipating challenges and suggesting mitigation measures, especially in the context of regulatory and compliance processes, Razorpay said in a statement. Razorpay is one of the leading fintech companies operating in India, serving over 10 million businesses across India. "As part of Razorpay's constant endeavour to enhance customer experience, the newly formed advisory board is founded with the singular vision of establishing

USSD service to make UPI payments without Internet: Here's how to do it

USSD allows users without a smartphone or data/internet connection to use mobile banking through the *99# code

Small businesses file applications worth over Rs 35,000 cr in payables

Over 137,000 complaints made, govt portal shows state govt dues are among the highest

Donald Trump invited to testify before New York grand jury: Report

Former president Donald Trump has been invited to testify next week before a New York grand jury that has been investigating hush money payments made on his behalf during his 2016 presidential campaign, according to a news report. The New York Times cited "four people with knowledge of the matter" in reporting that the invitation was made by the Manhattan district attorney's office. Such an invitation often indicates a decision on indictments is near. The district attorney's office declined to comment. A Trump spokesperson issued a statement that disparaged the investigation by Manhattan District Attorney Alvin Bragg, a Democrat, as politically motivated. Any indictment would mark the first time any former US president has been charged with a crime. It would come as Trump is ramping up a run to regain the White House in 2024 while simultaneously battling legal problems on multiple fronts. The district attorney in Atlanta, Georgia, has said decisions are "imminent" in a two-year ...

Morbi bridge case: HC asks Oreva to pay Rs 10 lakh to kin of each deceased

The Gujarat High Court on Wednesday directed clock manufacturing firm Oreva Group, the company that maintained the Morbi suspension bridge which collapsed killing 135 people in October last year, to pay Rs 10 lakh as "interim" compensation to the kin of each deceased and Rs 2 lakh to each injured within four weeks. A division bench of Chief Justice Sonia Gokani and Justice Sandeep Bhatt gave this direction to the company. The British-era suspension bridge on the Machchhu river in Morbi town collapsed on October 30 last year, killing 135 persons and injuring 56 others. The court ordered the company that the kin of each deceased and every injured person be paid interim compensation of Rs 10 lakh and Rs 2 lakh, respectively, within four weeks. On Tuesday, during a hearing of a suo motu (on its own) PIL admitted last year following the tragedy, Ajanta Manufacturing Ltd (Oreva Group) had offered to pay Rs 5 lakh compensation to the kin of those who died and Rs 1 lakh to the injured ...

Over 50 entities get in-principle approval for PA license; 28 under review

32 of those granted interim nod were already operating as online payments aggregators, 19 are new to the business

RBI to streamline charges for a safer, more affordable payments system

The central bank had released a discussion paper in August that outlined existing rules for charges, while presenting other options through which these could be levied

CAG pulls up CWC for incurring avoidable expenses of Rs 8.65 crore

Government auditor CAG on Tuesday pulled up the Central Warehousing Corporation (CWC) for incurring an avoidable expenditure of Rs 8.65 crore on account of improper planning in the acquisition of land, delay in the surrender of surplus land and payment charges. The Comptroller Auditor General of India (CAG) also said there were pending cases of execution of lease/title deeds in favour of CWC. Land acquired long ago (five years or more) was lying unutilised defeating the purpose of acquisition and resulted in blockage of funds. In addition, CWC neither disposed-off flats lying vacant for considerable time nor could utilise them alternatively, it said the report (for the years ended March 2020 and 2021) tabled in Parliament. According to the CAG, about 42 cases were pending for registration of title/lease deed in favour of CWC, since acquisition during 1964 to 2012. Maximum pendency of 66.66 per cent of non-execution of deeds was due to disputes with various government ...