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Payment Problems? Here's what to do when UPI and credit card transactions fail
Digital payment failures: Check account, wait for reversal, file complaint if needed. Verify details, monitor limits, keep records to prevent and resolve issues.
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UPI transactions remain over Rs 24 lakh crore in June as well, daily volumes at record high
Daily transaction volumes reached 613 million, up from 602.6 million in May. The pace of growth has moderated, with annual expansion falling to 32.5%, the lowest in over five years
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More people in Chhattisgarh, Madhya Pradesh can use UPI than in Tamil Nadu, Kerala
84% of women can do online banking transactions using UPI compared with 79.9 percent of men, a statistics ministry survey shows
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May Momentum: Economy shines despite tariffs & Indo-Pak conflict
UPI continued its double-digit growth with more than Rs 25 lakh crore worth of transactions for the first time, and volumes approaching 19 billion.
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Mobile payments register 30% jump in value to Rs 200 lakh crore in H2 2024: Report
Deployment of UPI QR codes, which are used to make payments, rose to 63.34 crore at the end of December 2024, the report revealed
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SBI’s high UPI transaction failures continue to be a drag on the payments platform
Public sector lenders such as Union Bank of India and Bank of Baroda, which have fewer resources, have a lower failure rate than SBI, NPCI data shows
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NPCI expands AI use to enhance customer safety in digital transactions
NPCI is conducting a pilot study in collaboration with public and private sector banks to integrate Artificial Intelligence (AI) and Machine Learning for strengthening customer safety, NPCI Chief Risk Officer Viswanath Krishnamurthy said here.
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UPI transactions rise to record high of Rs 24.8 lakh crore in March
The average transaction value was also higher at Rs 79,903 crore a day, up 1.9 percent from February. Volumes rose 2.6 percent
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Payment firms receive GST demand notice for transactions below Rs 2,000: Report
Officials are demanding tax from financial year 2017-18, when the GST regime was implemented, ET said.
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RBI introduces framework for digital transaction authentication
Das said that instructions for the framework will be issued separately.
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India sees 46% of world's total real-time digital transactions: President Droupadi Murmu
Her first address to a joint sitting of the two Houses in the new Parliament building resonated with references to the rapid expansion of the startup ecosystem, nation's AI push, speedy 5G roll-out, as well as the semiconductor sector investments.
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Digital transactions to soon exceed cash in India: PM Modi
Modi after the launch of the cross-border connectivity between the UPI and PayNow of Singapore said about 74 billion transactions amounting to more than Rs 126 trillion, which is approximately 2 trillion Singapore dollar, was done through UPI in 2022.
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Digital transactions will soon exceed cash in India: PM Modi
PM Modi after the launch of the cross-border connectivity between the UPI and PayNow of Singapore said about 74 billion transactions amounting to more than Rs 126 trillion, which is approximately 2 trillion Singapore dolla, was done through UPI in 2022.
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Low-ticket transaction processing costs range from 80 paise to 1 rupee: NPCI’s Dilip Asbe
The NPCI chief also said that the umbrella organisation is attempting to help credit by integrating the RuPay Credit Card on UPI.
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CBDCs will bring a lot of opportunities for fintech community: RBI official
The Reserve Bank of India is encouraging fintech companies to create innovative solutions for Central Bank Digital Currencies (CBDCs) that can be accessible to citizens without internet access.
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UPI payments touch record high of Rs 12.82 lakh crore in December
In November, as many as 730.9 crore transactions worth Rs 11.90 lakh crore had taken place via UPI.
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Digital transactions grew 31% YoY in festive sale period, expenditure up 64%: PayU report
Travel expenditure grew by 165 percent during this festive period, whereas, OTT expenditure shot up by 80 percent, according to the PayU report.
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BJP's ideology favours rising air pollution: Delhi minister Gopal Rai
Delhi Lieutenant Governor Vinai Kumar Saxena would not have stopped the implementation of the "Red Light on Gaadi off" campaign to reduce vehicular emissions without instructions from the saffron party, Gopal Rai told reporters after inspecting a construction site.
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UPI expands further globally; Indian travellers to UK to enjoy hassle-free digital transactions
The NPCI International Payments Ltd (NIPL) has forged a partnership with payments solutions provider PayXpert to internationalise the acceptance of its payment solutions in the UK.
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Non-cash payments' share to grow to 65% of all transactions by 2026 from current 40%: Report
The report -- which comes amid a rapid rise in unified payments interface (UPI) since the onset of the COVID-19 pandemic over two years ago -- also said that the digital payments industry will be USD 10 trillion opportunities by 2026 against USD 3 trillion at present.
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Northeast took lead in digital transactions in January-March period; Assam witnessed fastest adoption: PhonePe
PhonePe is accepted as a payment option across the "toughest terrains of the region including far-flung towns such as the Changlang district in Arunachal Pradesh", the Walmart-owned payments platform said.
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Daily digital transactions cross Rs 20,000 crore, PM Modi says in Mann Ki Baat
While addressing the nation on the 87th episode of his Mann Ki Baat radio program, PM Modi said that small online payments are helping build a big digital economy and many new fintech start-ups are coming up.
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Nepal adopts India's UPI for digital transactions
"Many countries praised the CoWin app, which was created for vaccination during the first COVID period and Nepal has now adopted India’s UPI for digital transactions. It will bolster interoperable real-time person-to-person (P2P) and person-to-merchant (P2M) transactions,” the article said.
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RBI launches 'financial literacy week' for promoting digital transactions
The RBI is observing 'financial literacy week' during February 14-18 in order to propagate financial education messages among the public across the country.
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2021: The year UPI became the undisputed payments champion
As of November 2021, the Unified Payments Interface had seen its transaction value surge 103% over 2020. And that steady clip is likely to continue into 2022.
