RBI, NIPL Working to Expand UPI to 20 Countries by 2028-29: RBI Annual Report

RBI, NIPL Working to Expand UPI to 20 Countries by 2028-29: RBI Annual Report

The Reserve Bank of India (RBI) along with NPCI international payments ltd (NIPL) will work towards taking UPI to 20 countries by FY29. RBI Annual report says possibilities will be explored for increasing the global footprints of UPI and RuPay. “In light of goals for Viksit Bharat 2047, the Reserve…

Government to Delay Digital Payments Market Share Cap, Helping Walmart-Backed PhonePe, Google Pay

Government to Delay Digital Payments Market Share Cap, Helping Walmart-Backed PhonePe, Google Pay

India will again delay caps on market share for a popular digital payments method, two sources told Reuters, benefiting Google Pay and Walmart-backed PhonePe as the authorities prioritise growth over concerns about market concentration. The National Payments Corporation of India (NPCI), the quasi-regulator, will extend by as much as two…

Google Pay, NPCI Sign MoU to Expand UPI Globally, Aim to Ease Digital Payments Abroad

Google Pay, NPCI Sign MoU to Expand UPI Globally, Aim to Ease Digital Payments Abroad

Google Pay and National Payments Corporation of India (NPCI) will work together to expand Unified Payments Interface (UPI), the instant payments system widely used in the country, to international markets, Google and NPCI confirmed Wednesday. A Memorandum of Understanding (MoU) has been signed between Google Pay India and NPCI subsidiary,…

Paytm Reported 51.5 Percent Rise in Q4 Revenue, Posted Profit for Second Consecutive Quarter

Paytm Reported 51.5 Percent Rise in Q4 Revenue, Posted Profit for Second Consecutive Quarter

Indian digital payments firm Paytm reported a 51.5 percent rise in fourth-quarter revenue on Friday, aided by a surge in loan growth, and posted an operating profit for a second consecutive quarter. Paytm’s parent, One 97 Communications, said revenue rose to Rs. 23.35 billion in the January-March quarter, from Rs….

No Charge on Normal UPI Payments, 1.1 Percent Fee to Be Levied on PPI Merchant Transactions: NPCI

No Charge on Normal UPI Payments, 1.1 Percent Fee to Be Levied on PPI Merchant Transactions: NPCI

National Payments Corporation of India (NPCI) on Wednesday said there is no charge for the bank account to bank account-based UPI payments or normal UPI payments. However, interchange charges are only applicable for the prepaid payment instruments (PPI) merchant transactions and there is no charge to customers, NPCI clarified in…

AIIMS Delhi to Go Fully Digital From April 2023; Will Accept Smartcards, UPI Payments

AIIMS Delhi to Go Fully Digital From April 2023; Will Accept Smartcards, UPI Payments

All payments at AIIMS-New Delhi will go fully digital from April 1, 2023, with the premier healthcare institute introducing smartcards in addition to UPI (Unified Payments Interface) and card payments at counters. “AIIMS New Delhi introduces #SmartCard in addition to UPI and card payments at all counters. All payments at AIIMS…

RuPay Credit Cards Will Be Linked to UPI Platform in a Few Months: NPCI MD

RuPay Credit Cards Will Be Linked to UPI Platform in a Few Months: NPCI MD

With cash usage continuing to remain high despite a jump in online payments, a top NPCI official on Friday said currency in circulation will reduce only when a third of the population starts using digital payment alternatives. National Payments Corporation of India (NPCI) Managing Director and Chief Executive Officer Dilip…

UPI, Non-Cash Payments to Constitute 65 Percent of All Transactions by 2026: Report

UPI, Non-Cash Payments to Constitute 65 Percent of All Transactions by 2026: Report

Non-cash payments using modes like UPI will account for 65 percent of all the transactions by 2026 against the 40 percent level estimated at present, a report said on Thursday. The report — which comes amid a rapid rise in unified payments interface (UPI) since the onset of the COVID-19 pandemic…