Jul 07, 2022 10:19 AM IST

Pine Labs-owned Setu gets RBI's in-principal approval to operate as account aggregator

The in-principal nod for the Account Aggregator license was received through Setu's subsidiary Agya Technologies.

India in talks with 30 countries regarding UPI: MeitY minister Ashwini Vaishnaw

Vaishnaw said this while giving an overview of India's public digital platforms, and said these platforms have avoided the creation of monopolies in the digital services sector -- the kind that are present in developed countries.

Chart of the Day: UPI on fire, cheques burn but cash endures

Cheques have plummeted as a mode of transactions to just 27 percent of GDP in FY22 from as high as 50 percent in FY16.

Contactless payments grew 6x in the last three years in India, says report

The highest adoption of contactless payments was observed in sectors like Quick Service Restaurants, pharmacies, food, grocery, etc. across both credit and debit cards.

OmniCard launches cash withdrawal facility across all ATMs via e-wallet

OmniCard provides users a complete mobile first journey where the users can create a Rupay powered digital card in a few seconds, order their physical personalised card and pay using UPI QR codes across merchants.

Ashneer Grover weighs in on linking credit card with UPI. 'Great move by RBI but...'

Ashneer Grover echoed sentiments regarding merchant discount rate (MDR). "Merchants will not pay MDR," the Shark Tank India judge and former BharatPe co-founder said.

Banks upbeat on credit card- UPI linkage, await clarity on MDR charges

To boost online transactions in the economy, the Reserve Bank of India has allowed banks to link credit cards with the Unified Payment Interface.

Payments | UPI takes the credit

UPI is increasingly becoming a super payment interface, shaking the payment ecosystem which was controlled by private banks and the payment duopolies

Decoding digital payments in India: A US$10 trillion opportunity

Partnered Post: As part of the PhonePe Beat of Progress powered by Moneycontrol, listen to Moneycontrol’s Chandra Srikanth in discussion with an esteemed panel on Decoding Digital Payments In India: A US$10 Trillion Opportunity.

How digital payments will grow to $10 trillion

What Paytm chief Vijay Shekhar Sharma thinks of RBI’s big announcement on credit card-UPI linkage

“This is a game changer move by RBI,” said Vijay Shekhar Sharma on linking credit cards with UPI.

Credit cards on UPI opens up a host of possibilities, but leaves many questions unanswered

The payments industry is awaiting clarification on how the pricing of such an arrangement will work. From the look of it, many see this as advantageous for RuPay.

RBI Monetary Policy | Credit cards can now be linked to your UPI, starting with RuPay

Until now customers could only link their bank accounts through debit cards to UPI.

In six charts: Cash is king but not for much longer; digital payments are turning a corner

Unit economics of payment platforms set to improve, according to a Jefferies report

PhonePe is made in India and will list in India, says CEO Sameer Nigam

Nigam said that the Walmart and Flipkart-owned startup will go public once its core businesses turn profitable and its new-age initiatives achieve good scale.

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.

Indian digital payments industry to more than triple to $10 trillion by 2026: Report

The growth in digital payments over the next five years will be fuelled by increased merchant adoption, according to the report by PhonePe and the Boston Consulting Group.

Another record month for UPI, transactions cross Rs 10 lakh crore milestone in May

The number of transactions inch close to the 600-crore mark, up more than 100 percent from the year-ago period

Slice raises $50 million in Series C round, led by existing investor Tiger Global

The investment also saw participation from its existing investors Moore Strategic Ventures and Insight Partners, and new investor Japan's GMO Venture Partners.

Exclusive: Startup slowdown was imminent, but disciplined startups won't feel the pressure, says PhonePe's Sameer Nigam

Unaffected by the slowdown, PhonePe will cross its target of doubling its headcount by Decemeber, Nigam said.

Exclusive: Slice turns conservative amid slowdown, restricts ‘Pay-in-3’ feature to select card customers

The startup will however allow all customers to divide repayments across three months for no interest for in-app purchases in an attempt to increase transactions with its merchant partners. The move will help the company make revenue-earning features more attractive and help accelerate its profitability plans, according to sources.

PhonePe launches UPI SIP for gold investments

PhonePe informed that the users can begin investing in Gold with a minimum amount of Rs 100 per month.

Slice rolls out UPI in big payments bet as fintech looks beyond credit

Slice founder and CEO Rajan Bajaj said that the company will turn profitable in the coming months. The firm will shift its focus from just providing credit to offering overall payments going forward.

Amazon launches Smart Commerce, aims to to transform local stores into digital dukaans

Amazon plans to digitise one crore small businesses across the country by 2025.

Not much opportunity to build many $100-million companies as we are still a poor country: Zerodha CEO Nithin Kamath

Startups that spent the most in acquiring customers or on employee costs may find it difficult to weather a funding slowdown, according to Kamath.