Paytm Gets Third-Party UPI App License From NPCI as Payments Bank Ceases Operations

Paytm Gets Third-Party UPI App License From NPCI as Payments Bank Ceases Operations

Indian digital payments firm Paytm, formally known as One 97 Communications, was on Thursday granted a third-party application provider license by the country’s payments authority, which will enable it to facilitate payments after its banking unit ceases operations. The license will allow customers to continue using the Paytm app for…

India Moves Forward in Blockchain, AI Research as NPCI and IISc Join Forces

India Moves Forward in Blockchain, AI Research as NPCI and IISc Join Forces

India, despite its sceptic stance towards cryptocurrencies, is all in favour of conducting research and development around blockchain – the underlaying technology that powers cryptocurrencies. In a fresh development, the National Payments Corporation of India (NPCI) has joined forces with the Indian Institute of Science (IISc), Bengaluru. The aim of…

RBI Moves to Ensure UPI Transactions on Paytm Continue to Work After Strictures on Paytm Payments Bank

RBI Moves to Ensure UPI Transactions on Paytm Continue to Work After Strictures on Paytm Payments Bank

The Reserve Bank of India said on Friday it has asked the National Payments Corporation of India (NPCI) to examine a request from Paytm, formally known as One 97 Communications, to become a third party application provider (TPAP). If approved, this would allow Paytm to continue processing payments via India’s…

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 Disbursed Over Rs. 5,500 Crore in Loans; While UPI Crosses 10 Billion Transactions in August

Paytm Disbursed Over Rs. 5,500 Crore in Loans; While UPI Crosses 10 Billion Transactions in August

Fintech major Paytm on Tuesday said it disbursed $667 million (Rs. 5,517 crore) loans through its platform and deployed 87 lakh devices for offline payments in August.  The Vijay Shekhar Sharma-led fintech platform said in a regulatory filing that on an average 9.4 crore users transacted through Paytm monthly during…

NPCI Launches India’s Own Blockchain-Backed Open-Source Project ‘Falcon’: All Details

NPCI Launches India’s Own Blockchain-Backed Open-Source Project ‘Falcon’: All Details

India has maintained a rather sceptic stance towards accepting cryptocurrencies as part of its financial systems, but is keeping an open approach towards exploring blockchain technology. The National Payments Corporation of India (NPCI), on August 29, announced the launch of Falcon — an open-source project that aims to simplify the…

Google Pay Rolls Out UPI Payments Support for RuPay Card Holders of These Banks: Details

Google Pay Rolls Out UPI Payments Support for RuPay Card Holders of These Banks: Details

Tapping into the growing popularity of Unified Payments Interface (UPI), Google Pay in conjunction with the National Payments Corporation of India (NPCI) on Tuesday announced the capability for users to make UPI payments with RuPay credit cards.  With this development, users can link their RuPay credit cards with Google Pay…

RuPay Brings CVV-Less Payments for Tokenised Cards on Supported E-Commerce Merchants

RuPay Brings CVV-Less Payments for Tokenised Cards on Supported E-Commerce Merchants

The National Payments Corporation of India (NPCI) on Monday said RuPay has now introduced the CVV (Card Verification Value) free payment experience for its debit, credit and prepaid cardholders who have tokenized their cards on the merchant application or webpage. This new CVV-less experience ensures that the cardholder will not…