Digital Wallets

Credit cards may have missed the millennial bus

Millennials have overwhelmingly voted with their feet for new payment systems like digital/mobile wallets and mobile-based instant payments 

Australia considering new laws for Apple, Google, WeChat digital wallets

Treasurer Josh Frydenberg said he would "carefully consider" that and other recommendations from a government-commissioned report into whether the payments system had kept pace with advances in technology and changes in consumer demand.

Consumers most concerned about fake UPI payment links: Survey

There has been a spike in incidents over the past one year where fraudsters have duped users with payment requests citing donations for the PM CARES Fund, contributions to NGOs, and crediting income tax refunds, among other scams, said the survey report.

How RBI's move will affect wallet-to-wallet transfers

The move is expected to boost mobile wallet transactions in the coming months as interoperability among digital wallets will allow ease of transactions

RBI extends date to submit comments on prepaid instrument norms

The Reserve Bank of India has extended the time to send suggestions or comments on the regulation of prepaid instruments (PPIs) to April 15.

Digital payment volumes down MoM in Jan but UPI bucks trend

Even as high-denomination currency is back in circulation, people have begun exploring alternative digital modes like Immediate Payment Services (IMPS) and Unified Payments Interface (UPI), suggests a report by Business Standard today.

'E-wallets, online cabs top cashless performers post note ban'

Digital wallets, followed by online cabs, were the top performing categories for cashless transactions post demonetisation, a study said.

Use e-wallets, PoS beyond 'hazardous area': Govt to petrol pumps

Cashless payments can be carried out beyond an area of 1.2 metre, on either sides of the dipensing machine, and at a height of 45 cm from the ground, the official said.

Investment in mutual funds via e-wallets to be a reality soon

Digital wallet companies in India might soon find a new set of customers. To provide a fillip to the government's plan to enhance digital transactions in the country, market regulator Securities and Exchange Board of India is expected to soon allow investment in mutual funds through e-wallets, says an article in the Mint today.

Know more about digital payments

From cash transactions to cheques to debit and credit cards to net banking, mobile banking and now digital wallets. The way we transact and deal with money has gone through a sea-change over the last one decade but one thing is clear that digital is here to stay and it is growing by leaps and bounds.

Exempt start-ups from service tax, e-commerce from VAT: IAMAI

Internet and mobile content service providers have sought exemption to start-ups from service tax for first three years. They have also demanded exemption to ecommerce firms from value added tax (VAT) in states as they are already paying service tax.