Page 4 - Upi

Gaining momentum: UPI transactions top Rs 20 trn for third straight month

NPCI's data shows that the average daily transaction count on UPI in July was 466 million, amounting to Rs 66,590 crore

NPCI reestablishes connectivity with C-Edge following ransomware attack

C-Edge, a joint venture between State Bank of India (SBI) and Tata Consultancy Services (TCS), is a technology service provider that offers services to cooperative and regional rural banks

RBL Bank launches RuPay credit cards with UPI and NCMC functionalities

Lender says users can now enjoy seamless, secure, and instant payments through UPI, along with hassle-free travel facilitated by NCMC feature

Small banks' digital payment services affected in cyberattack on tech firm

Ransomware attack on C-Edge Technologies on Wednesday prompts NPCI to security review

Flipkart Pay merges all payments, fintech offerings into unified interface

The e-commerce firm aims to provide customers a seamless payment experience as it gears up for the festive season

Paytm sees no impact of lowering of UPI incentives on path to profitability

Fintech firm One97 Communications, which owns Paytm brand, sees no impact of lower incentives earmarked by the government in the budget for promoting small ticket digital transactions, a top official of the company said. Speaking on the sidelines of launching "Card NFC Soundbox" machine, Paytm CEO Vijay Shekhar Sharma denied any impact of lower allocation of incentives to promote small ticket digital transactions on his guidance over profitability this fiscal year. "We remain committed to doing the same (achieve a profitable quarter in this fiscal) because we already said without UPI incentive," Sharma said. The government has lowered incentive allocation for Rupay and UPI transactions by about 42 per cent in the budget. Sharma during the company's earning call had given guidance to achieve a profitable quarter during the current fiscal. "My team and we are also committed to making sure that we go back to profitable quarters very, very soon. We are hoping and working on making sur

UAE biz conglomerate introduces UPI payments across outlets countrywide

A UAE-based business conglomerate has announced the acceptance of India's Unified Payment Interface payments across its outlets in the country. Unified Payment Interface (UPI) is an Indian instant payment system developed by the National Payments Corporation of India (NPCI) in 2016. The inaugural transaction using UPI at the Al Maya Supermarket was conducted in the presence of the Deputy Consul General of India in Dubai, Yatin Patel. Kamal Vachani, Group Director and Partner of Al Maya Group, highlighted the convenience and benefits that UPI payments bring to Indian customers. We are thrilled to be at the forefront of this innovative payment solution in the UAE. The introduction of UPI will not only enhance the shopping experience for our customers but also strengthen the economic ties between India and the UAE, Vachani said. He said the availability of UPI payment services is expected to enhance convenience and ease of transactions for Indian visitors, benefiting both nations. U

Namma Yatri parent raises $11 mn in funding from Blume Ventures, Antler

Company that runs community-led mobility apps will use the money for improving technology, research

140 million HDFC Bank, Axis customers may face service interruption

UPI services will be unavailable for customers from 3:00 AM to 3:45 AM and from 9:30 AM to 12:45 PM on July 13, 2024

NPCI International partners with Qatar National Bank to launch UPI

In June, NIPL inked an agreement with the central bank of Peru to develop a UPI-like payment system in the South American country

Banks should be prepared for providing credit through UPI: Zeta CEO APAC

We believe that the UPI transaction volume, using one or another form of credit, would be $1 trillion by the end of 2030, she says

India's UPI goes live at Galeries Lafayette, eyes Paris Olympics boost

Ambassador of India to France and Principality of Monaco Jawed Ashraf launched UPI by live use

India launches UPI payments at world-renowned Galeries Lafayette in Paris

India has launched the Unified Payments Interface (UPI) at Paris' historic department store Galeries Lafayette after a successful launch at the iconic Eiffel Tower. This significant step is towards realising Prime Minister Narendra Modi's vision of globalising UPI, which is an Indian instant payment system developed by the National Payments Corporation of India (NPCI) in 2016. "On July 3, 2024, the UPI became live at the flagship store of the world-renowned Galeries Lafayette in Haussmann, Paris. This expands the acceptance of UPI in Paris after a successful launch at the iconic Eiffel Tower," the Indian Embassy in France said in a release on Thursday. Ambassador of India to France and Principality of Monaco Jawed Ashraf launched UPI by live use at the store in the presence of Nicolas Houze, CEO of Galeries Lafayette, and Alain Lacour, Chairman of Lyra Group, the release said. "Delighted to launch @UPI_NPCI in the world-famous @Galeries_Laf in Paris. After the launch in the Eiffel

After historic high, UPI transactions see marginal dip in June to 13.89 bn

IMPS down by 7%, FASTag 4%; but Aadhaar Enabled Payment System (AePS) see a 11% jump in volume & 7% in value

Soon UPI ticketing at all booking counters in Kolkata Metro's N-S corridor

Kolkata Metro on Saturday announced that UPI payment-based ticketing system will be available at booking counters of all stations of Blue Line (Dakshsineswar-New Garia) soon for the convenience of the passengers. The system had earlier been introduced in all Automatic Smart Card Recharge Machines (ASCRM) installed at stations of Blue Line but not at counters. This ticketing system has also been introduced in all stations of Green Line 1 and Green Line 2 (Howrah Maidan-Esplanade and Sealdah-Sector Five) as all ticket booking counters in this corridor are now UPI-enabled, the Kolkata Metro said in a statement. As a result, commuters now don't need to tender the exact fare in currency notes and coins at stations under the Green line of East-West Metro. "Instead, they have now been recharging their smart cards or purchasing tokens with the help of this alternative system," the statement said. Now with the introduction of this UPI-payment based ticketing system at all the counters of B

India, Cambodia discuss investment treaty, UPI collab: Commerce ministry

India and South East Asian nation Cambodia are negotiating collaboration in UPI-based digital payment to promote trade and tourism, the commerce ministry said on Thursday. Both sides also deliberated upon diversification of the trade basket by identifying new products, bilateral investment treaty, recognition of Indian pharmacopoeia and collaboration in the pharma sector. These issues among others were discussed during the second meeting of the India-Cambodia Joint Working Group on Trade and Investment (JWGTI) here on Wednesday. Pharmacopoeia is a set of standards and quality specifications for ingredients, preparation and dosage forms of medicines manufactured, sold, consumed and exported in a country. Indian Pharmacopoeia Commission (IPC) is an autonomous institution under the Ministry of Health and Family Welfare which sets standards for all drugs that are manufactured, sold and consumed in India. "The meeting discussed the progress of the ongoing efforts for collaboration in .

Neeraj Arora quits Paytm, firm onboards ex-Sebi official Rajeev Agarwal

Former Chief Business Officer of WhatsApp Neeraj Arora has quit the board of the fintech firm One97 Communications, owner of Paytm brand, citing pre-occupation and personal commitments, a regulatory filing said on Monday. Arora had quit the Paytm board earlier in early 2018 but rejoined it before the company's IPO. "The Board, at its meeting held today i.e., June 17, 2024, took note of the resignation tendered by Shri Neeraj Arora, Non-Executive Independent Director of the Company on account of pre-occupation and other personal commitments. He will accordingly cease to be a Non-Executive Independent Director, with effect from the closure of business hours on June 17, 2024," Paytm said in the regulatory filing. Arora was a key figure in negotiating the WhatsApp merger deal with social media major Facebook. He has co-founded his own social networking Hallo App and a venture capital firm Venture Highway. Paytm has onboarded former whole-time director of market regulator SEBI Rajeev .

RBI permits automatic replenishment of UPI Lite wallet: Check details

UPI Lite users can make payments of up to Rs 500 without a PIN

RBI permits customers to automatically replenish their UPI Lite wallets

The Reserve Bank on Friday proposed a facility to allow customers to automatically replenish their UPI Lite wallets to promote small-value digital payments. Currently, the UPI Lite has a daily limit of Rs 2,000, while the upper limit for a single payment is Rs 500. UPI Lite is a simplified version of the Unified Payments Interface (UPI). It acts as an on-device wallet for small-value transactions. Presently, the UPI Lite app can only hold a maximum of Rs 2000 at a time. "To encourage wider adoption of UPI Lite, it is now proposed to bring it under the e-mandate framework by introducing a facility for customers to automatically replenish their UPI Lite wallets if the balance goes below the threshold limit set by them," RBI Governor Shaktikanta Das said. This will further enhance the ease of making small value digital payments, he said while announcing the bi-monthly monetary policy here. UPI Lite was introduced in September 2022 to enable small value payments in a quick and seamle

PhonePe's UPI share expands, Paytm sees marginal rise in txn volume in May

The Bengaluru-based digital payments and financial services company has maintained its streak of growth on UPI with its share increasing from 47.35 per cent in February this year