Page 3 - Unified Payments Interface
NPCI kickstarts deployment of 'UPI Tap and Pay' facility for payment apps
The feature is currently live on Bharat Interface for Money or BHIM app along with Paytm where it is open for limited users, according to details on NPCI's website
 "NPCI kickstarts deployment of 'UPI Tap and Pay' facility for payment apps")
Support to regulations difference between us and tech firms: Sameer Nigam
Nigam said that being an early mover in the adoption of the United Payments Interface also played in their favour
 "Support to regulations difference between us and tech firms: Sameer Nigam")
Why you should link your credit card with UPI? Check all benefits
RBI allowed the integration of Unified Payment Interface (UPI) with credit cards to leverage the several benefits of credit card enthusiasts. Here's why you should use credit card with UPI
 "Why you should link your credit card with UPI? Check all benefits")
RapidX fares: 17 km journey to cost between Rs 50-100 in standard coach
The minimum fare for the five standard coaches on the priority section will be Rs 20 and the maximum fare is set at Rs 50; for premium coach, the minimum fare will be Rs 40, and the maximum is Rs 100
 "RapidX fares: 17 km journey to cost between Rs 50-100 in standard coach")
No phones, cards needed, your car can pay for its fuel and Fastag directly
The service can be availed by linking the Unified Payments Interface (UPI) with the car's infotainment system, thus eliminating the need for a smartphone to make payments
 "No phones, cards needed, your car can pay for its fuel and Fastag directly")
UPI transactions may soon touch 100 billion a month, says NPCI CEO
UPI's 10 billion-per-month transaction volume places it among the fastest-growing payment processing systems in the world
 "UPI transactions may soon touch 100 billion a month, says NPCI CEO")
Hassle-free commute, RAPIDX to have UPI-enabled ticket vending machines
NCRTC, the nodal agency overseeing the RAPIDX project, aims to make the entire 82-km Delhi-Ghaziabad-Meerut corridor operational by 2025
 "Hassle-free commute, RAPIDX to have UPI-enabled ticket vending machines")
70% of MSMEs believe more than 50% of customers will pay using UPI
A report by NeoGrowth looks at the data from around 3,000 retail customers and 1,000 retail sellers across the country
ICICI Bank to offer EMI facility for UPI transactions above Rs 10,000
Customers can pay transaction amount above Rs 10,000 in the form of instalments in three, six, or nine months
 "ICICI Bank to offer EMI facility for UPI transactions above Rs 10,000")
Debit card usage declines 20% YoY as UPI becomes the first preference
A variety of reasons are responsible for the decline in debit card usage. Notably, UPI is available on mobile phones and has done away with the need to always carry a card
 "Debit card usage declines 20% YoY as UPI becomes the first preference")
We should be allowed to charge for UPI: Worldline India's Ramesh Narasimhan
In a Q&A, the company's CEO dwells on the huge opportunity the payments business provides in India and why there is a sudden rush to acquire an aggregator licence
 "We should be allowed to charge for UPI: Worldline India's Ramesh Narasimhan")
Statsguru: Six charts explain the UPI's emerging growth challenge
There are more than 7 billion transactions every month using the payment system - more than five transactions for every man, woman and child in the country
 "Statsguru: Six charts explain the UPI's emerging growth challenge")
Merchant payment via wallets on UPI to attract 1.1% interchange from Apr 1
As NPCI seeks to integrate digital wallets on the UPI platform is expected to be positive for Paytm, which has a 60 per cent share in wallets
 "Merchant payment via wallets on UPI to attract 1.1% interchange from Apr 1")
More nations interested in using UPI: RBI deputy governor T Rabi Sankar
Speaking about India's central bank digital currency (CBDC, also known as e-rupee), Sankar said the RBI was looking to expand the use cases for wholesale CBDC
 "More nations interested in using UPI: RBI deputy governor T Rabi Sankar")
RBI to launch pilot project for QR-based coin vending machines in 12 cities
These vending machines will dispense coins against a debit to the customer's account. The process will use Unified Payments Interface (UPI) instead of physical tendering of notes
 "RBI to launch pilot project for QR-based coin vending machines in 12 cities")
UPI processes record 7.82 bn transactions in December, ends 2022 on a high
In the calendar year 2022, UPI processed over 74 billion transactions, worth Rs 125.94 trillion, NPCI data showed
 "UPI processes record 7.82 bn transactions in December, ends 2022 on a high")
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
 "RBI to streamline charges for a safer, more affordable payments system")
UPI transactions see 650% rise at semi-urban, rural stores: Report
The unified payments interface (UPI) transactions witnessed a meteoric 650 per cent rise at the semi-urban and rural stores in India this year, a report showed on Tuesday
 "UPI transactions see 650% rise at semi-urban, rural stores: Report")
GSTN in AA network: Operational costs of banks expected to come down
GSTN is expected to go live on AA network in late January or early February, people aware of the development say
 "GSTN in AA network: Operational costs of banks expected to come down")
UPI volume cap deadline extended by 2 yrs in relief for PhonePe, Google Pay
Players wanted five-year extension on the market cap deadline
 "UPI volume cap deadline extended by 2 yrs in relief for PhonePe, Google Pay")
