Upi Transactions

Number of UPI apps grows in 2024, yet top two command maximum market share

In 2024, NPCI issued 20 third party application approvals. This was much higher than three and four issuances in 2022 and 2023 respectively

About 4 out of 10 individuals in rural, semi-urban India prefer UPI: Report

Yet UPI is the most preferred mode of financial transactions in such regions

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

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

Link UPI app to bank account having limited funds; set daily limits

Fraudsters also place fake QR codes over legitimate ones-on parking meters, donation boxes, etc. When users scan them, the payment goes to fraudsters' accounts

Business correspondents' body demands higher charges for AePS withdrawals

Faced with a jump in costs and transaction failures, bank agents are demanding an upward revision of per-transaction charges to 1 per cent or Rs 21, whichever is lower

Indians see wallets drain by Rs 485 crore in 'UPI scams' in FY25

Over 600,000 incidents of fraud have been reported in the ongoing financial year till September

UPI 123Pay transaction limit doubles to Rs 10,000 for feature phone users

This change boosts the utility of UPI 123Pay, enabling users to conduct higher-value digital transactions without needing internet access, thereby promoting greater financial inclusion across India.

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

Paytm launches UPI International, enables cashless payments abroad

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

Bima Stack promises seamless insurance claims, better access for all

Bima Stack makes purchasing insurance simpler, speeds up claims and strengthens access to products. It gives people control over their data

GenWise launches UPI payments for senior citizens with secure interface

This is the industry's first-ever introduction of UPI for elders, offering a simple user interface, enhanced security, and cyber fraud awareness

UP amends incentive policy to attract foreign investors for equity

Foreign firms investing in Uttar Pradesh by bringing in equity as well as loans will now be eligible to avail benefits under the state government's incentive policy. A decision in this regard was taken by the cabinet chaired by Chief Minister Yogi Adityanath here on Monday. The incentive policy has been rechristened as 'Foreign Direct Investment, Foreign Capital Investment and Fortune Global 500 and Fortune India 500 Investment Promotion Policy 2023'. Earlier, incentives under the policy were available to only equity investments. "Through this amendment, the Yogi government has given big relief to foreign investors. Through this, now foreign companies will also be able to invest in the state which brings in investment through equity as well as loan or any other source. With this decision of Yogi government, there is a possibility of increase in foreign investment in the state," an official statement said. Briefing about these decisions, UP Finance Minister Suresh Khanna said that

E-commerce sites record Rs 1 tn in sales; non-metros drove festive shopping

Demand from non-metro consumers, coupled with increased interest in luxury brands, drove festive season sales

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

Paytm gets NPCI nod to onboard new UPI users months after RBI restrictions

The approval may lead to an increase in company's UPI transaction volumes

Digital payments double in 3 years, cash transactions fall: RBI report

The study highlights that the share of digital payments more than doubled between 2021 and 2024, with UPI playing a key role in this transformation, particularly for small-value purchases

BharatPe's Ebitda loss declines to Rs 209 cr, revenue up 39% in FY24

The company said that its cash burn was reduced by 85 per cent on a Y-o-Y basis

UPI volume up 52% in H1CY24, transaction value rises 40%: Report

A decreasing average ticket size of transactions on the payments system indicates that it is increasingly being used to conduct small-value transactions