Unified Payments Interface

Flipkart-backed super.money plans credit and wealth management push

Fintech has become sixth-largest UPI app, processing over 78 million transactions in November

Flipkart-backed super.money jumps to sixth position in UPI volumes

In October, the company was the 12th-largest player on UPI

RBI allows small finance banks to offer pre-sanctioned credit line on UPI

Step will 'further deepen financial inclusion and enhance formal credit', says central bank

RuPay credit card UPI transactions double in first seven months of FY25

The National Payments Corporation of India, which runs the real-time payments system Unified Payments Interface (UPI), launched the RuPay credit card programme in 2017

Paytm launches UPI International, enables cashless payments abroad

Paytm brings UPI payments for Indian travellers to UAE, France, Singapore, and more

UPI sets new record in Oct with 16.58 bn transactions worth Rs 23.5 trn

Growth in transactions driven by person to merchant transactions during festival season

Swiggy unveils 'International Logins' for NRIs from 27 countries

The International Logins feature enables those residing outside India with international numbers to transact on Swiggy Food, Swiggy Instamart, Swiggy Dineout and Swiggy Genie

President Muizzu introduces UPI payment service to boost Maldivian economy

Maldives President Mohamed Muizzu has taken "necessary steps" to introduce India's Unified Payments Interface (UPI) in the archipelago nation, slated to benefit the Maldivian economy substantially. Developed by the National Payments Corporation of India (NPCI), UPI is an instant real-time payment system for facilitating inter-bank transactions through mobile phones. Muizzu on Sunday set up a consortium to introduce UPI in the country and appointed TradeNet Maldives Corporation Limited as its leading agency, according to a press release by the President's Office. The president also suggested the participation of the country's banks, telecom companies, state-owned companies and fintech companies in the consortium. He "decided to take the necessary steps" on the recommendation of the Cabinet, the press release said. "This move is expected to bring significant benefits to the Maldivian economy, including increased financial inclusion, improved efficiency in financial transactions, and

50 new payment apps keen on joining UPI despite zero MDR: NPCI MD & CEO

At present, most UPI debit transactions continue to remain free, with payment-processing expenses borne by fintechs and banks

Navi climbs UPI leaderboard for second consecutive time, now fifth largest

This growth follows the company's announcement in April that it would roll out cashbacks and rewards for customers using its UPI service

Since the year pandemic hit, average daily UPI transactions up over 8x

In September 2024 alone, UPI processed 15.04 billion transactions, valued at Rs 20.64 trillion

UPI crosses 500 million daily transactions; value falls flat in September

In volume terms, this is the highest number since UPI became operational in April 2016. The number of daily transactions was higher than 483 million and Rs 66,475 crore in August

A 'unified lending interface' carries great potential, but is also risky

India's model for financial interconnectedness is based around what it calls digital public infrastructure

UPI numbers scale fresh peak in August; volume up, value dips marginally

The Immediate Payment Service (IMPS) transaction volume was down by 8 per cent in August at 453 million, as compared to 490 million in July

RBI to launch Unified Lending Interface to transform lending space: Das

There should not be in any rush to roll out system-wide CBDC before one acquires a comprehensive understanding of its impact, Das said

Decoded: Buna-Raast connectivity project between Pakistan-Arab world

Raast is Pakistan's first instant payment system, which operates similarly to India's flagship project: Unified Payments Interface (UPI)

Fintech co Navi collabs with Karnataka Bank to introduce credit line on UPI

At present, the Sachin Bansal-founded fintech company has introduced the offering to a closed group of select users. It plans to launch it to a wider user base based on feedback

Top 3 players processed 93% of all transactions on UPI in July: NPCI

PhonePe and Google Pay, the two largest players, process about 85 percent of UPI volumes in the country

NPCI to level up UPI play with BHIM spin-off; appoints Nataraj CEO of arm

Lalitha Nataraj previously worked with IDFC FIRST Bank and ICICI Bank

India to introduce UPI payment service in Maldives: EAM Jaishankar

India and Maldives have signed an agreement to introduce the Unified Payments Interface in the archipelago nation, which will have a "very positive" impact on its tourism sector, External Affairs Minister S Jaishankar has said. The Memorandum of Understanding was signed on Friday during Jaishankar's three-day official visit to the Maldives. "Witnessed signing of MoU between (the) National Payments Corporation of India and (the) Ministry of Economic Development and Trade of Maldives on (the) introduction of (a) digital payment system in the Maldives," he said in a post on X. Developed by the National Payments Corporation of India (NPCI), Unified Payment Interface (UPI) is an instant real-time payment system to facilitate inter-bank transactions through mobile phones. Addressing a press conference with his Maldivian counterpart Moosa Zameer after their "productive discussions", Jaishankar said that India, through its UPI, has "revolutionised digital transactions". Stressing that it