The RBI will also look at setting up a self-regulatory governance framework to keep a check on security, customer protection and pricing.
The idea is to reward users with cryptocurrency for watching advertisements.
He was addressing the '2019 India Forum of the PCI Security Standards Council' through video conferencing here.
With an increase in transaction volumes in ETC lanes, the country's largest lender wants to step up the competition in the digital space. So far only two private lenders - ICICI Bank and Axis Bank have been active in this area.
The five-member panel on deepening of digital payments has been constituted with a view to encourage digitisation of payments and enhance financial inclusion through digitisation, the RBI said in a statement.
Priyanka Sahay is in conversation with Jitendra Gupta to understand the evolution of digital payments in India.
The digital payments market In India is expected to grow to $1 trillion by 2023, led by growth in mobile payments.
Ficci and the Niti Aayog Monday jointly organised a workshop on the 'Online Digital Payments Programme' aimed at capacity building and imparting training to the officials working in this area.
Internet connectivity and data cost are no longer issues, trust in electronic systems and lack of accountability in digital systems is often cited as a hindrance to mass use.
The aim of the RBI's move is to reduce instances of fraud and ensure that consumer's confidence in the digital payment systems goes up
These recommendations are aimed at revamping the Payment and Settlement Systems Act, 2007, which was the first dedicated law to regulate and supervise payment systems in India
SBI YONO’s digital banking features will be enabled through the MyJio platform for an integrated customer experience.
Compelling foreign firms to relocate their servers would offer Paytm an opportunity to steal a march on rivals as they will be more focused on compliance, rather than growth, in the short term.
Simpl started pilot projects in December 2017 with a clutch of offline retailers in food and beverages segment and now has about 15 offline merchants on its platform.
In its fourth investment in two years, Amazon has pumped in Rs 230 crore or $34 million into its Indian digital payments arm
Incidentally, the value of money that changed hands in 243.37 million UPI transactions in June — totalling Rs 40,834.03 crore — was also the highest in its history
Credit and debit cards are the most common means of making digital or electronic transactions.
Uttam Nayak from Visa was in the fray to take over the position but lost out to the in-house expert Asbe.
AP Hota, the first managing director and CEO of NPCI, took over in August 2010 and retired from the position on August 10, 2017
Total value of transactions fluctuated in the range of Rs 133.8 lakh crore and 139.9 lakh crore during April-August 2017 and then moved up to Rs 155.2 lakh crore in September 2017.
Grand Mufti Shawki Allam said on Monday that the fatwa was issued after thorough consultations with several economic experts
Opera’s latest version of its internet browser—Opera 50’s stable release has a built-in solution to “keep miners from trespassing onto your machine”
In an interview with CNBC-TV18, Rajeev Agarwal, Ex-Whole Time Member at Securities and Exchange Board of India (SEBI) shared his views and readings on the concerns that the Indian government, the Reserve Bank of India (RBI) and the finance ministry seem to be looking at.
FM Jaitley said that more detailed steps would be taken once the report of the committee is submitted.