Online Payment

PhonePe gets RBI nod to operate as online payment aggregator

The aggregator license is part of the RBI’s regulatory framework aimed at tightening oversight of digital payment intermediaries and ensuring consumer protection.

OpenAI working on payment checkout system within ChatGPT: Report

Merchants that fulfill orders through the payment system will pay a commission to OpenAI, the report said

Digital payments system needs to adapt to rural India’s realities

Digital payment mechanisms offer significant potential to empower rural and semi-urban borrowers. However, their success depends on addressing underlying infrastructural and educational challenges. Achieving financial inclusion in India’s heartland will require an approach that blends the innovation of digital systems with the reliability of traditional cash methods.

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.

Fintechs startups must be built with precision, discipline not speed, velocity: Peak XV’s Shailendra Singh

"There is a very strong balancing force. You have to be super responsible and work on scale. People using credit for gambling or for F&O is scary. Credit is being used as well as abused. There should be prudence while working on this space," Singh said.

RBI issues draft rules for Aadhaar-enabled payment system operators to boost user safety

As per the draft rules, NPCI and acquiring banks will have to make sure that any AePS touchpoint operator is onboarded only by one acquiring bank.

Ola, Uber and Rapido remove in-app wallet payments for auto-rickshaws to retain drivers, cut costs

The direct-payment model was first rolled out by Namma Yatri in Bengaluru in November of 2022. Now, other ride-hailing firms such as Ola, Uber, and Rapido want to tap into this to avoid paying GST on services.

redBus onboards ONDC to facilitate auto rickshaw, Metro bookings

redBus to offer auto rickshaw booking in Bengaluru, Delhi, Chennai & Hyderabad, and Metro ticket booking in Chennai and Kochi