The revenue of One97 Communications, the company of Paytm, which provides payment services app, increased by 42 percent in the last quarter to about Rs 2,062 crore. This is an increase of about eight percent on a quarterly basis. The company says that a major reason behind this is the increase in the number of…
The scope of online payments has increased rapidly in the last few years. Unified Payments Interface (UPI) transactions have created a record in May. Last month, there were 14.04 billion UPI transactions whose value was approximately $20.45 trillion. This is an increase of six percent in terms of volume and four percent in value as…
Payment services company Paytm, which has been facing difficulties for the last few months, has seen its share in Unified Payments Interface (UPI) transactions decline for the fourth consecutive month. Paytm’s share in total UPI transactions declined to 8.1 percent in May. In January, the Reserve Bank of India (RBI) had ordered the closure of…
Workers have been laid off from One97 Communications, Paytm’s payment services company. Earlier this year, the Reserve Bank of India (RBI) had ordered the closure of Paytm’s banking unit. Since then the company is facing difficulties. There has also been a huge fall in the share price of Paytm. One97 Communications has said in a…
Total gross merchandise value (GMV) at payments and financial services firm Paytm grew 35 per cent year-on-year to about Rs 2.65 lakh crore in April and May. Paytm’s average monthly transacting users (MTU) also increased by 24 percent to 9.2 crore in the last two months. in the last few years Paytm Has increased its…
WazirX, one of the biggest crypto exchanges, was targeted by hackers last month. The exchange suffered a loss of more than $230 million. After this, WazirX stopped some services like withdrawal of funds for users. This exchange has informed about starting the facility of withdrawal of funds for users. Although, Exchange Users will be able…
The scope of Unified Payments Interface (UPI) has grown rapidly in the country in the last few years. It is also being expanded abroad. The National Payments Corporation of India (NPCI) has launched the UPI One World Wallet service for non-resident Indians (NRIs) and international travelers visiting the country. This will allow travelers who do…
The trial of the country’s digital rupee or e-rupee is progressing rapidly. 50 lakh users have joined it. The trial of digital rupee is being done in collaboration with 16 banks. This Central Bank Digital Currency (CBDC) was launched in December 2022. CBDC is also being trialled in some other countries. Reserve Bank of India…
The crypto segment has grown rapidly in the last few years. Cases of scams related to this segment are also increasing. Crypto ATMs that provide the facility to buy cryptocurrencies with cash are becoming a major means of illegal transactions. Apart from cash, people can also buy cryptocurrencies from these ATMs using debit and credit…