In May 2023, Economic Offences Wing (EOW) filed a first information report against the BharatPe's embattled co-founder & former managing director Ashneer Grover, his wife Madhuri Grover and two other family members
BFSL is a wholly owned subsidiary of Bank of Baroda, and National Payments Corporation of India (NPCI).
Over the past 16 months, most of Cred’s growth has come from UPI transactions rather than deeper engagements by its top credit card customers.
Nilekani also said that the AA framework is incentivising people to join the system, boosting the growth of a formal economy.
Last week, the RBI has decided to withdraw Rs 2000 banknote from circulation in pursuance of the “Clean Note Policy”, and it advised bank to stop issuing these notes with immediate effect.
The Gurugram-based company said users can now complete orders on the same page using Zomato UPI, without being required to open a separate app to complete payments.
Vikas Bansal feels RBI's objective is very clear — to promote transparent and fair practices, and educate and protect customers. According to him, once the industry adjusts to the new standards that RBI has laid out, it will continue to grow.
Paytm narrowed its consolidated net loss in Q4 with an increase in gross merchandise value and higher merchant subscription revenues. Watch the management explain the company's quarterly performance and roadmap ahead only on Moneycontrol.
A Mumbai-based engineer has developed a QR code for stray dogs, which will contain all the necessary details of the dog. This will help create a data for stray dogs across India. But how does this product really work? Can people find lost dogs with the help of this product? Watch this video to know more.
The Internet in India Report 2022 showed that of the 759 million active users, 360 million belong to urban india and 399 million to rural India.
In March, the National Payments Corporation of India (NPCI) recorded a significant surge in Peer-to-Merchant (P2M) transactions made through the UPI platform
Users can instantly activate the UPI feature on their PhonePe app through a simple process that does not involve any KYC (know your customer) authentication and also create a UPI Lite account
The partnership between NIPL and PPRO will empower the global PSPs, Banks, payment gateways, with payment platforms to expand globally giving international e-commerce merchants access to Indian consumers.
Their high-touch model may be useful in increasing the penetration of complex financial products like insurance, pension and mutual funds that apps cannot do
Linking UPI with other countries’ payments mechanisms will help users make payments faster and lower the cost of fund transfers
A credit line, different from a loan, is a lending facility where a borrower can borrow money on a flexible and revolving basis from a lender
The Reserve Bank of India (RBI) Governor Shaktikanta Das said that the new measure has a pre-sanctioned loan from banks, which customers can operate through UPI
Paysharp is a three and half-year-old fintech startup headquartered in Chennai. Paysharp announced it completed Pre-Series A funding on March 2023. During the round, Paysharp raised 10.5 crores with the 200 crores valuation.
Customers complained of issues on online banking as well as unified payments interface (UPI) platform
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Paytm CEO and founder Vijay Shekhar Sharma said, 'Right now government is paying for payment charges to be charged to merchants for payments from UPI.'
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Asbe said at News18’s Rising India Summit that there are dialogues within the ecosystem with the government and the stakeholders on how to grow UPI to 10X and how to ensure that onboarding of a large number of customers and merchants is smooth with the right investment.
NPCI issues clarification after several citizens took to social media and incorrectly said that UPI is chargeable
According to the NPCI circular, using PPIs on UPI will attract interchange at 1.1 percent of the transaction value for transactions worth over Rs 2,000.