Page 4 - Payments

Walmart's PhonePe crosses 300 mn registered users, merchant network grows

The service now has over 20 million offline merchants across 11,000 towns and talukas in India

Behavioural science can help in reparations for slavery, colonial abuses

Germany agrees to pay more than €1.1 billion to Nambia for reparations for slavery and colonial abuses.

NPCI onboards Turkish firm PayCore to develop softPoS solutions for RuPay

The idea behind SoftPoS is merchants can use their NFC-enabled smartphones as point of sale (PoS) machines to accept contactless payments

Automatic recurring payment to comply with RBI direction from April 1

As part of risk mitigation measure, RBI announced this step to bolster safety and security of card transactions

Corporate affairs ministry facilitates tracking down of payments to MSMEs

From the next month, companies are required to disclose trade payables according to their ageing - less than one year, 1-2 years, 2-3 years, and more than three years - in their financial statements

Gujarat HC serves notice on Centre over interest on delayed payments

Earlier, the GST Council had decided that interest up to 18 per cent would be levied only on delayed payment through cash ledger and not via input tax credit

Card networks to make recurring payments to PIDF, support initial corpus

RBI's payment infrastructure development fund to be valid for three years, effective January 1, can be extended by two more years

Khatabook rolls out app for micro-entrepreneurs to manage staff, payments

Khatabook is looking at leveraging its user-base to push the new app as it targets 1 million users over the next two months.

NPCI diversifies its ownership with share allotment to 19 new entities

Completes private placement of 4.63 per cent equity shares worth Rs 82 cr; number of shareholders rises to 67

A boost to real-time payments in pandemic with prolific innovations

China, with an average daily volume of 38.3 million transactions, closely followed India

Retail payments report recovery in May, jump 23% to Rs 24.22 trillion

Total payments that include digital payments and payments made via paper-based instruments rose 12.5 per cent to Rs 94.64 trillion in May, against Rs 84.10 trillion in April.

Over half of Indian firms 'vulnerable' on wage payments, says Crisil

Ashu Suyash, the MD and CEO of the agency, said it has done an analysis of 40,000 companies having a collective wage bill of Rs 12 trillion, which revealed the grim situation.

RBI steps up monitoring of retail payment modes, modifies framework

The RBI has classified the National Payments Corporation of India (NPCI) as FMI, thereby increasing the regulatory oversight on the entity

RBI modifies framework for financial market infra, retail payment system

The RBI, as per the document, will carry out the oversight activity through monitoring existing and planned systems

Covid-19 crisis: Payments fall 46% in April; ATM cash withdrawal declines

Retail payments fall 45%, card usage slips 57%

How supply chain firm Ninjacart is connecting farmers, retailers using tech

Ninjacart connects through a network of more than 200 collection centres and 1,200 warehouses across the country

Payments, 5G phones to be big areas of focus for OnePlus in 2020

The company plans to launch OnePlus payments in India first before making waves in global markets

Rs 500/1,000 notes valid for key utility payments till November 24

Old currency can also be used for purchases at consumer co-operative stores like Kendriya Bhandar with valid ID proof