Page 2 - Upi

Migrating low-ticket payments to UPI Lite key to easing system pressure

UPI Lite allows low-value transactions without requiring a PIN and are carried out without utilising a remitter bank's core banking systems

Paytm launches UPI International, enables cashless payments abroad

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

Newer companies rise on UPI leaderboard, Navi now the fourth largest

The company processed 157.51 million transactions in October, overtaking Bengaluru-based Cred, which recorded 152.28 million transactions in the same month

ULI will be for lending what UPI is for payments: RBI Dy Guv at BFSI Summit

BS BFSI Summit: RBI is actively working to link UPI with other countries, aiming for global acceptance that would allow Indians abroad to make payments using UPI, said RBI Deputy Governor

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

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

RBI changes UPI limits: Check the details!

Spending Boost: Soon, pay up to Rs 1,000 without entering PIN on UPI Lite

The daily transactions on UPI crossed 501 million in September, the highest ever since UPI turned operational

RBI ups UPI Lite limit for smooth payment transactions: Check revised caps

During the RBI MPC announcement, Shaktikanta Das announced increased UPI transaction limits for UPI123Pay and UPI Lite wallet, a move aimed at boosting UPI adoption

Stock brokers to offer UPI-based fund blocking or 3-in-1 account from Feb 1

Starting February 1, qualified stock brokers will have to either offer the facility of trading in the secondary market using the UPI-based block mechanism to their clients, similar to the ASBA facility, or a three-in-one trading account facility, a move that will empower investors. Qualified Stock Brokers (QSBs) must offer one of these two options, in addition to the current mode of trading. A three-in-one trading account combines a savings account, a demat account, and a trading account into a single integrated solution. In this case, the clients would have their funds in their bank account, earning interest on the cash balances. "This initiative will empower and benefit investors with enhanced security, improved transparency, interest earnings and ease of making payments at a time when UPI payments are witnessing significant growth," Rahul Jain, CFO, NTT DATA Payment Services India, said. Additionally, the move will improve fund management and further enhance investors' convenien

NPCI inks deal to develop digital payments system for Trinidad and Tobago

Earlier in the year, NIPL had agreed to develop digital payments systems for Peru and Namibia, using UPI as a blueprint

NPCI eyes Africa, South America for digital payment push via UPI: CEO

Earlier this year, the NIPL signed deals with the central banks of Peru and Namibia to help them build real-time payment systems similar to UPI

NPCI considers easing UPI market share cap amid enforcement challenges

NPCI is considering increasing the allowable market share to to over 40% from the previously proposed 30% cap

Sachin Bansal's Navi becomes sixth largest UPI player, overtakes Amazon Pay

Bengaluru-based fintech started cash-backs and rewards for customers in April

UPI users can now send Rs 5 lakh for some transactions: Check details

RBI has raised UPI transaction limit to Rs 5 lakh for tax payment, effective from Sunday

Banks to set up a Unified Recovery Interface to enhance efficiency

IBA mulls special apprenticeship scheme for banking sector

How to make payments with Google Pay's UPI Circle: A complete guide

UPI Circle is designed to assist individuals who may not have a bank account or find it inconvenient to manage digital payments

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

UPI likely to grow further in several countries, says RBI Guv Das

Reserve Bank Governor Shaktikanta Das on Friday evening said he is optimistic that the Unified Payments Interface (UPI) will grow further in several countries. Das, who is on a five-day visit to the state, said UPI is already present in many countries through QR codes and the linkage of fast payments systems, and discussions are underway with several other nations. We expect this to grow further at the global level and internationalise in future, he told reporters here. Speaking at an event in Mumbai on Wednesday, Das had said that notable progress in this direction has already been made with countries like Bhutan, Nepal, Sri Lanka, Singapore, the UAE, Mauritius, Namibia, Peru, France and a few others for acceptance of RuPay cards and payments through the UPI network. These endeavours, he said, underscore collaborative efforts for the adoption of India's initiatives across the globe.

New feature: Deposit cash at ATMs via UPI, no debit card required

UPI Interoperable Cash Deposit lets customers add cash to their own or any bank account via UPI at ATMs run by banks and white-label ATM operators, simplifying cash deposits