Upi

UPI transactions continue upward trajectory, hit all-time high in Dec 2024

For the full calendar year 2024, UPI-enabled platforms handled approximately 172 billion transactions, reflecting a 46 per cent annual increase

UPI moment for B2B payments: Bharat Connect likely to go live by March

The NPCI subsidiary, which will follow the model similar to TPAPs, is conducting pilots with eight companies

NPCI lifts WhatsApp Pay's user cap: Know how to set up new account

The move is expected to have profound implications for WhatsApp Pay and the broader UPI market

NPCI extends market cap deadline for UPI apps by two years to end of 2026

This extension provides significant relief to market leaders PhonePe and Google Pay, which dominate UPI transactions in India

Come 2025 and you may be able to use UPI in 6 more countries in the world

NPCI is looking to go live with UPI in geographies relevant to Indian tourists, such as Qatar, Thailand, and the broader Southeast Asian region

UPI changes in 2024: Increased limits, new features, security tips

Updates include higher transaction limits, UPI Lite wallet top-ups, new features like UPI Circle for delegated payments

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

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

Snapmint raises $18 mn in debt & equity to expand merchant network

The new funds will be used to expand its partnership with more shopping portals, grow its merchant network, and expand its balance sheet

UAE foreign minister arrives in New Delhi for 15th Joint Commission Meeting

United Arab Emirates Deputy Prime Minister and Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan arrived in New Delhi on Thursday to take part in the 4th Strategic Dialogue and the 15th India-UAE Joint Commission Meeting.Welcoming the UAE leader, Ministry of External Affairs spokesperson Randhir Jaiswal said, the visit will "further strengthen the multifaceted Comprehensive Strategic Partnership between India & UAE.""Warm welcome to HH Sheikh Abdullah bin Zayed Al Nahyan, Deputy PM & FM of UAE @ABZayed as he arrives in New Delhi for the 4th Strategic Dialogue & the 15th India-UAE Joint Commission Meeting. His visit will further strengthen the multifaceted Comprehensive Strategic Partnership between India & UAE," Jaiswal said in a post on X,Notably, the 14th India-UAE Joint Commission Meeting (JCM) was co-chaired by External Affairs Minister S Jaishankar and his UAE counterpart Sheikh Abdulla bin Zayed Al Nahyan in Abu Dhabi on September 1, 2022.In the year

Paytm arm to sell stock acquisition rights in Japan's PayPay for Rs 2.3K cr

Fintech firm and owner of Paytm brand One97 Communications' Singapore-based arm has approved the sale of its Stock Acquisition Rights in Japan's PayPay to Softbank Vision Fund 2 for Rs 2,364 crore, the company said in a regulatory filing on Saturday. Paytm and Paytm Singapore had signed an agreement with the Japanese digital wallet firm, Softbank Corp, Softbank Group Corp and Yahoo Japan Corporation to provide technology services to PayPay. In lieu of the services, Paytm Singapore had acquired Stock Acquisition Rights, convertible into 1,59,012 shares or a 7.2 per cent stake in PayPay on a fully diluted basis. "One97 Communications Singapore Private Limited has informed the company on December 06, 2024, at 12:49 pm (IST), that its Board of Directors at its meeting held on December 06, 2024, has approved the sale of all its Stock Acquisition Rights in PayPay Corporation, Japan, to SoftBank Vision Fund 2 entity for net proceeds of JPY 41.9 billion (equivalent to Rs 2,364 crore)," the

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

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

RBI allows Small Finance Banks to offer pre-sanctioned credit lines via UPI, aiming to boost financial inclusion for underserved communities, including small businesses and micro-entrepreneurs

BharatPe launches 'Shield' to protect users from digital transaction frauds

BharatPe Shield covers risks such as computer fraud, phishg attacks, and unauthorised transactions caused by phone loss

Fintech major PhonePe eyes replicating UPI success via diversification

At present, the overall user base of PhonePe is over 500 million. Of these, its merchant base is over 40 million

RBI enhances UPI Lite wallet limits, updates offline payments framework

Earlier, the per-transaction limit and wallet limit for transactions made through Unified Payments Interface (UPI) Lite were set at Rs 500 and Rs 2,000, respectively

RBI raises UPI Lite wallet limit to Rs 5,000; per transaction to Rs 1,000

The Reserve Bank on Wednesday increased the UPI Lite wallet limit to Rs 5,000 and per-transaction limit to Rs 1,000 in order to encourage wider adoption of the popular instant payment system through mobile phones. UPI Lite transactions are offline to the extent that Additional Factor of Authentication (AFA) is not required, and transaction alerts are not sent in real time. Currently, the upper limit of an offline payment transaction is Rs 500 and the total limit for offline transactions on a payment instrument is Rs 2,000 at any point in time. The Reserve Bank on Wednesday amended the 'offline framework' issued in January 2022 with an aim at facilitating small value digital payments in offline mode. "...the enhanced limits for UPI Lite shall be Rs 1,000 per transaction, with Rs 5,000 being the total limit at any point in time," said a Reserve Bank circular. An announcement in this regard was made by the central bank in October this year. An offline payment means a transaction whi

Post-festive slump: UPI volume down 7%, value drops 8% in November

In October, UPI recorded 16.58 billion transactions worth Rs 23.5 trillion-the highest since the digital payment system became operational in April 2016

UPI frauds: Rising cases can affect users' confidence in digital payments

The volume of digital-payment transactions increased from 20.71 billion in 2017-18 to 187.37 billion in 2023-24 - at a compound annual growth rate (CAGR) of 44 per cent

UPI 123 Pay: RBI extends transaction limits- Here are key changes

UPI 123Pay facilitates digital payments on feature phones, enabling users to access UPI services without an internet connection. It supports four payment methods

PM Modi holds bilateral talks with Trinidad and Tobago PM Keith Rowley

PM Modi also commended PM Rowley for adopting UPI platforms and welcomed the signing of MoU relating to agro and food processing