Digital Payments

June 08, 2023 06:45 PM IST

How Meta’s global team derailed WhatsApp India's payment ambitions

With over 600 million monthly active users and 500 million daily active users, WhatsApp had a golden opportunity to take the UPI crown from PhonePe. It was WhatsApp's game to lose, and the instant messaging platform lost it. And how.

Digital payments eliminate need for high denomination currencies: Former RBI Dy Gov

About 89 percent of the Rs 2,000 notes in circulation were issued prior to March 2017, and are at the end of their estimated lifespan of four-five years.

8.7 bn UPI transanctions witnessed in March 2023: Nirmala Sitharaman

Aadhaar through e-KYC has also brought down costs of verification, leading to savings in costs for customer acquisition from Rs 500–700 ($6-9) per person to Rs 3 (0.4 cent).

PhonePe raises another $100 million from General Atlantic, others

In January, PhonePe announced raising $1 billion in tranches at a valuation of $12 billion. Since then, the fintech unicorn has raised $350 million from General Atlantic, $100 million from Tiger Global Management, Ribbit Capital and TVS Capital, and $200 million from its largest shareholder--Walmart

Paytm's Vijay Shekhar on UPI payments being chargeable from April: 'There is absolutely no...'

Paytm CEO and founder Vijay Shekhar Sharma said, 'Right now government is paying for payment charges to be charged to merchants for payments from UPI.'

BillDesk's profit drops by 39% to Rs 149cr in FY22, despite 15% revenue increase to Rs 2,442cr

In the comparable period, Razorpay, a top rival of BillDesk in the Indian market, recorded a surge in net profit to Rs 7.37 crore from Rs 6.18 crore in the preceding year.

UPI transactions on course to reach 1 billion a day by 2025: NPCI chief

“I don't think UPI has achieved its potential yet. For a country like India, we should do 10x of what we are doing,” Asbe said.

Daily UPI transactions jump 50% to 36 crore: RBI governor

In value terms, these transactions are worth Rs 6.27 lakh crore, registering a growth of 17 per cent from Rs 5.36 lakh crore in February 2022, RBI governor Shaktikanta Das said.

Bill Gates says meeting PM Modi was the highlight of his India trip

Bill Gates met Prime Minister Narendra Modi on March 3 - a meeting he called the highlight of his trip to India. The two discussed education, healthcare, climate change and the rise of digital payments in India.

Data-based lending will be taking off in a big way with the Account Aggregators framework: Nandan Nilekani

The next big thing will be credit in India and getting a loan will be as easy as making a payment in the next 3-4 years, Nilekani said.

What is UPI Lite?

What are Offline Digital Payments?

HDFC Bank begins offline payment pilot under RBI sandbox

Apart from executing transactions in no network areas, such a facility will be of help in urban pockets experiencing bad networks and also in aircraft, according to a statement.

What is Project Pratima?

India has signed MoUs with 13 countries to integrate with UPI: Ashwini Vaishnaw

Speaking to the press on the sidelines of the G20 digital economy working group meeting in Lucknow, Union Minister Ashwini Vaishnaw said that Singapore had already completed its UPI integration.

Behind the scenes of Project Pratima, an effort to design a unified payments icon library for India

Can standardising app icons build trust & familiarity in digital payments?

BharatPe fight escalates: Ashneer Grover writes to NPCI, independent director alleging data theft by Bhavik Koladiya

Ashneer Grover has alleged that there is a serious breach of data of over 150 million UPI users at BharatPe by Bhavik Koladiya.

RBI Policy: India-bound travellers to be allowed to use UPI: Governor

RBI governor Shaktikanta Das said that to begin with, this service will be permitted to travellers from G20 countries arriving at select international airports.

Economic Survey 2023: UPI accounted for 52% of India's total digital transactions in FY22

In FY22, UPI accounted for 52 percent of the total 8,840 crore financial digital transactions with a total value of Rs 126 lakh crore, the government noted in its pre-Budget Economic Survey

Make money first. Geopolitics can wait

US card networks may get to tap small Indian retailers who otherwise can’t afford them. On that hangs a tale of rivals putting profit before parochialism

Razorpay pauses onboarding of online payment merchants after RBI advisory

Razorpay expects to resume onboarding after a few weeks

Paytm can't use IPO proceeds for buyback; company's strong liquidity to be used

Sources said regulations prevent any company from using IPO proceeds for a share buyback.

Payments Council launches common icon library for uniformity, fraud prevention

Project Pratima lays down the design principles and basic guidelines to make icons easily recognisable and accessible to users across platforms of the members of the Payments Council of India.

Hard cash, made easy | Digital Rupee will enhance financial inclusion: Fintech industry

Digital currencies have many benefits like zero currency loss and lower operational costs associated with physical cash management.

CRED to acquire lending as a service platform CreditVidya

CreditVidya offers services for entire loan life cycles from origination to underwriting to collections of loans. The platform also allows customers to seek loans from its lending partners.