India has become the fastest payment country in the world. Unified Payments Interface (UPI) has a major contribution in this achievement. In the country, the use of debit cards and credit cards and other means of payment is decreasing. Inter-bank transactions can be done immediately through smartphones from UPI developed by National Payments Corporation of…
India has become the fastest payment country in the world. Unified Payments Interface (UPI) has a major contribution in this achievement. In the country, the use of debit cards and credit cards and other means of payment is decreasing. Inter-bank transactions can be done immediately through smartphones from UPI developed by National Payments Corporation of…
The central government has refused to impose Goods and Services Tax (GST) on transactions worth more than Rs 2,000 through Unified Payments Interface (UPI). Recently some media reports stated that GST may be imposed on transactions of more than Rs 2,000 from UPI. The government has described such reports as completely wrong and misleading. It…
The scope of digital payments has increased rapidly over the years. The National Payments Corporation of India (NPCI), which operate the Unified Payments Interface (UPI), plans to add 20 to 30 crore new users for UPI. Its retail users have more than 45 crores. India’s contribution to digital transactions in the world has increased to…
Payments from mobile have increased rapidly in the last few years in the country. In the second half of the previous year, the value of transactions was increased to Rs 198 lakh crore with the use of mobile phones. This is an increase of about 30 percent on a year-on-year basis. It has an increased…
The popularity of Unified Payments Interface (UPI) is increasing rapidly. Transactions through UPI increased by about eight percent in December to about 16.73 billion. According to data from National Payments Corporation of India (NPCI), about 15.48 billion transactions were done through UPI in November. The total value of transactions through UPI in December was approximately…
The popularity of Unified Payments Interface (UPI) is increasing rapidly. Transactions through UPI increased by about eight percent in December to about 16.73 billion. According to data from National Payments Corporation of India (NPCI), about 15.48 billion transactions were done through UPI in November. The total value of transactions through UPI in December was approximately…
Payment services company Jio Payments plans to enter the merchant payments solutions segment. This payment gateway and solution unit of Reliance Jio, one of the big telecom companies, has prepared to launch Soundbox for merchants. It will be similar to devices from Paytm, PhonePe and BharatPe. Jio Payments has started its trial. According to a…
Paytm, which is associated with payment services, has planned to lay off about 20 percent of the workers in its banking unit. The Reserve Bank of India (RBI) has ordered Paytm Payments Bank to cease operations from March 15. For this reason it has been decided to make layoffs from this unit. This layoff will…
There were approximately 131 billion Unified Payments Interface (UPI) transactions in the country in the last financial year. Their total value was approximately Rs 200 lakh crore. According to data from National Payments Corporation of India (NPCI), in the last financial year there were about 83.7 crore UPI transactions whose value was about Rs 139…
