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  • UPI clocks 19.65 billion transactions at Rs 32.5 trillion in Q3 2022: Worldline’s India Digital Payments Report Dec 05, 2022 10:12 PM IST

    UPI clocks 19.65 billion transactions at Rs 32.5 trillion in Q3 2022: Worldline’s India Digital Payments Report

    Overall, In Q3 2022, UPI, Debit and credit cards, and prepaid payment Instruments like Mobile Wallets, and prepaid cards executed 23.06 billion transactions amounting to Rs 38.32 trillion.

  • Why NPCI had to extend UPI market cap deadline by two years Dec 05, 2022 11:40 AM IST

    Why NPCI had to extend UPI market cap deadline by two years

    While the restrictions on UPI apps have been deferred by two years, nothing much would change from the current scenario unless we see another dominating app taking off in payments — the likelihood of that at the current stage looks very difficult

  • NPCI extends UPI market cap deadline to December 31, 2024, in a relief to PhonePe, Google Pay Dec 02, 2022 04:57 PM IST

    NPCI extends UPI market cap deadline to December 31, 2024, in a relief to PhonePe, Google Pay

    The guidelines requiring each UPI third-party app to adhere to a 30 percent transaction volume cap were first introduced in November 2020.

  • CRED to acquire lending as a service platform CreditVidya Nov 29, 2022 03:42 PM IST

    CRED to acquire lending as a service platform CreditVidya

    CreditVidya offers services for entire loan life cycles from origination to underwriting to collections of loans. The platform also allows customers to seek loans from its lending partners.

  • PhonePe in talks to buy ZestMoney to bolster digital lending plans Nov 25, 2022 10:24 AM IST

    PhonePe in talks to buy ZestMoney to bolster digital lending plans

    The development comes at a time when PhonePe is in talks to raise a mega round of $450-500 million, likely to be led by General Atlantic.

  • UPI frauds contribute to 15.3% rise in cybercrime complaints between Q1 and Q2 of 2022 Nov 07, 2022 12:24 PM IST

    UPI frauds contribute to 15.3% rise in cybercrime complaints between Q1 and Q2 of 2022

    Looking specifically at 'UPI fraud complaints,' a cybercrime category under National Cybercrime Reporting Portal (NCRP), the number jumped from 62,350 in Q1 2022 to 84,145 in Q2 2022.

  • UPI at ‘India’s last teashop’ gets Anand Mahindra’s shout-out Nov 05, 2022 07:56 PM IST

    UPI at ‘India’s last teashop’ gets Anand Mahindra’s shout-out

    A picture that illustrates the wide reach of UPI in India was re-tweeted by industrialist Anand Mahindra

  • Currency in circulation declined in Diwali week, first time in 20 years: SBI report Nov 04, 2022 03:35 PM IST

    Currency in circulation declined in Diwali week, first time in 20 years: SBI report

    The share of currency in circulation in payment systems has been declining from 88% in FY16 to 20% in FY22 and is estimated to shrink further to 11.15% in FY27, the report has said

  • NPCI CEO Dilip Asbe pitches UPI autopay after Elon Musk insists on $8 fee for blue ticks Nov 02, 2022 12:30 PM IST

    NPCI CEO Dilip Asbe pitches UPI autopay after Elon Musk insists on $8 fee for blue ticks

    National Payments Corporation of India (NPCI) managing director and chief executive Dilip Asbe replied to a tweet by billionaire Musk, saying the UPI's recurring payments offering already has 7 million users.

  • Zaggle to collaborate with NPCI for contactless credit cards on RuPay Nov 01, 2022 07:32 PM IST

    Zaggle to collaborate with NPCI for contactless credit cards on RuPay

    According to the press release, Zaggle and NPCI along with partner banks would use this platform to launch multiple credit cards to address the ever-growing demand of Corporates, SMEs, and consumers.

  • BJP's ideology favours rising air pollution: Delhi minister Gopal Rai Nov 01, 2022 02:22 PM IST

    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.

  • Remove withdrawal restrictions on BSBD accounts for digital payments Oct 30, 2022 07:15 PM IST

    Remove withdrawal restrictions on BSBD accounts for digital payments

    s much as Rs 5,000 crore can be raised per annum through a 0.3 per cent fee on payments through all electronic modes at e-commerce platforms, which could be used to maintain and strengthen the UPI infrastructure.

  • Slice bets on card-linked bank accounts to stay afloat as RBI Nov deadline for digital lending norms nears Oct 29, 2022 05:30 PM IST

    Slice bets on card-linked bank accounts to stay afloat as RBI Nov deadline for digital lending norms nears

    In a mail to customers, Slice said that the card will be temporarily suspended in November to transition to the new system

  • Anand Mahindra: 'India's success in creating a unique digital payment system is stunning' Oct 19, 2022 02:30 PM IST

    Anand Mahindra: 'India's success in creating a unique digital payment system is stunning'

    Anand Mahindra's tweet also opened a debate regarding the different modes of digital payment available to Indians.

  • Is UPI killing the toffee business? The numbers say otherwise for Lotte India Oct 14, 2022 03:12 PM IST

    Is UPI killing the toffee business? The numbers say otherwise for Lotte India

    Deepak Shenoy, CEO of Capitalmind, tweeted about Lotte’s annual report. “I don't really think UPI is killing the toffee business," he wrote.

  • PhonePe founders join Prime Volleyball League, acquire Mumbai team Oct 10, 2022 10:42 AM IST

    PhonePe founders join Prime Volleyball League, acquire Mumbai team

    Named Mumbai Meteors, the team is the eighth franchise in the Prime Volleyball League, which has RuPay as the prime sponsor

  • No charge for RuPay credit card use on UPI for transaction up to Rs 2,000: NPCI Oct 05, 2022 01:02 PM IST

    No charge for RuPay credit card use on UPI for transaction up to Rs 2,000: NPCI

    RuPay credit card has been operational for the last four years, and all major banks are enabled and are issuing incremental cards for both commercial and retail segments.

  • RuPay credit cards on UPI: Small merchants not to be charged for transactions up to Rs 2,000 Oct 04, 2022 04:10 PM IST

    RuPay credit cards on UPI: Small merchants not to be charged for transactions up to Rs 2,000

    For all other transactions, existing interchange charges applicable on RuPay credit cards will be levied, the National Payments Corporation of India said in a circular.

  • PhonePe moves domicile from Singapore to India in run-up to IPO plans Oct 03, 2022 03:45 PM IST

    PhonePe moves domicile from Singapore to India in run-up to IPO plans

    The Walmart-owned company said that the process was completed in three steps, following which all PhonePe Group businesses and entities are now wholly owned by and consolidated under PhonePe Pvt Ltd (India).

  • Fintech Files | Part-2: In the world of digital payments, UPI is the king Oct 03, 2022 08:03 AM IST

    Fintech Files | Part-2: In the world of digital payments, UPI is the king

    Indians are moving away from cash and traditional banking payment instruments and have wholeheartedly embraced UPI to make payments because of its ease and sheer convenience. Fintechs are driving this nationwide shift

  • CRED launches UPI scan and pay, move may help increase in-app transaction volumes Oct 01, 2022 06:40 AM IST

    CRED launches UPI scan and pay, move may help increase in-app transaction volumes

    CRED said that users will be allowed to create an alias UPI ID, helping them mask personal details like mobile numbers, ensuring enhanced privacy during payments. It is also offering 2x rewards for payments made to partner merchants.

  • Fintech Files Part-1: What they are and what they do Sep 27, 2022 11:34 AM IST

    Fintech Files Part-1: What they are and what they do

    Relying on smartphones for almost everything has become the new normal in today’s fast-paced world, particularly when it comes to financial services. But it is actually the financial technology in the background that enables these services, making transactions a simple act of a touch or a click. Here’s a primer on the basics

  • NPCI re-appoints Dilip Asbe as MD and CEO for five years Sep 23, 2022 07:27 PM IST

    NPCI re-appoints Dilip Asbe as MD and CEO for five years

    Asbe took over as CEO of NPCI from former Reserve Bank of India (RBI) executive Abhaya Prasad Hota in 2018.

  • PhonePe CEO Sameer Nigam makes renewed pitch for MDR, warns there is no path to recovery otherwise Sep 22, 2022 05:37 PM IST

    PhonePe CEO Sameer Nigam makes renewed pitch for MDR, warns there is no path to recovery otherwise

    Nigam pointed out that when payment modes are made free of cost there is an underlying assumption that companies involved in these businesses will have alternate sources of revenue. However, that may be possible for banks, but not startups, he added.

  • Nandan Nilekani pitches for BNPL products through UPI after launch of Rupay credit card on UPI platform Sep 21, 2022 07:11 PM IST

    Nandan Nilekani pitches for BNPL products through UPI after launch of Rupay credit card on UPI platform

    The National Payments Corporation of India (NPCI) on Thursday launched the Rupay credit card on UPI platform, following a RBI policy move authorising it.