Digital Transaction

In May, UPI set another record as it processed more than 14 billion transactions worth Rs 20.45 lakh crore or Rs 20.45 trillion, according to data issued by the National Payments Corporation of India (NPCI).

How India’s UPI and Brazil’s Pix are fast pushing the financial inclusion pedal

India and Brazil have heavily invested in digital technologies to accelerate financial inclusion. The success of UPI and Pix hinges on fundamental factors like smartphone ownership, bank accounts, and internet access

Paytm ties up with Shriram Finance to expand its loan distribution business

This partnership aims largely at providing financial services such as loan products to its users. Shriram Finance's products will now be digitally available on Paytm's platform as part of this cooperation, helping to extend access to credit and drive financial inclusion in the country.

Online transaction to get added push post withdrawal of Rs 2,000 notes from circulation, say experts

Last week, the RBI has decided to withdraw Rs 2000 banknote from circulation in pursuance of the “Clean Note Policy”, and it advised bank to stop issuing these notes with immediate effect.

Why digital cash needs to feel real: Andy Mukherjee

It won’t be enough for central banks to simply issue electronic versions of fiat money. Users must view the new currencies as close substitutes for paper bills

MC Explains | The tale of vanishing Rs 2,000 currency notes

Their circulation has reduced significantly, primarily because the RBI has not printed these notes in FY20, FY21, and FY22. In fact, they accounted for only 13.8% of all currency notes in circulation, in value terms, as on March 31, 2022. After being introduced in 2016, they accounted for 50.2% of the value of notes in circulation, as on March 31, 2017.

Big Story | Payment operators directed to shift to interoperable QR codes by March 2022

It has also barred Payment System Operators (PSOs) from launching any new proprietary QR code for payment transactions.

With 1.5 billion transactions in July, UPI breaks June record: Report

As per data released on August 1, the channel operated by the National Payments Corporation of India had clocked in transactions worth Rs 2.61 lakh crore in June, which rose to Rs.2.90 lakh crore in July.

Need more incentives to push digital transactions: H R Khan

"Post demonetisation, there were some ups and downs but digital transactions are going up compared to what was prevailing a year ago. There was a need for more of such incentives at different levels," Khan said.

PayU India launches deferred payment facility in India

Digital payments platform PayU India today launched 'LazyPay' that allows a deferred payment option to users who transact digitally for amounts ranging between Rs 500-2,500.

Govt working to expand digital transaction at great pace: FM

Asserting that the government is working to expand digital transaction at a great pace despite criticism, Finance Minister Arun Jaitley today asked Opposition not to eulogise the virtues of cash as it leads to temptation for shadow economy.