Many useful features were already present in the BHIM app of National Payments Corporation of India (NPCI) and now another useful feature has been added to the BHIM app for doing UPI transactions. In August 2018 i.e. last year, NPCI had announced that many useful features will be available in UPI 2.0 including one time…
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…
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…
The number of transactions through the Unified Payments Interface (UPI) platform in India has increased by 49 percent year-on-year to 13.9 billion. This information has been given in the latest data of National Payment Corporation of India (NPCI). However, the number of transactions is slightly less than the May figure of 14 billion. The reason…
Digital payment service Unified Payments Interface (UPI) is being expanded rapidly abroad. This QR based service has been launched in the United Arab Emirates (UAE). For this, NPCI International Payments Limited (NIPL) has tied up with Network International. Through Network International’s more than two lakh point-of-sale (POS) terminals in the UAE UPI Payments can be…
Ever since the launch of UPI, speculations have been rife that we will see more such experiments in the coming times. One of these is Aadhaar Payments (AEPS). An official announcement has been made about it and it will be rolled out soon. With its help, users will be able to send and receive money…
Bhim App has been developed by National Payments Corporation of India (NPCI). With its help, people can receive and send money through Unified Payments Interface. This app is currently available only on Android platform and now a new feature called Aadhaar Payments has been added to it. With its help, you will be able to…
UPI based ‘WhatsApp Payment’ has arrived in India. Although this feature is still undergoing testing, according to news agency IANS, it will soon reach 20 crore WhatsApp users in the country. ‘WhatsApp Payment’ will directly compete with services like ‘Paytm’ and ‘Google Tez’ which are already providing digital payment services. Now through WhatsApp, you can…
If transaction charges are implemented, most of India’s Unified Payment Interface (UPI) users may stop using it. According to the survey, 38 percent of users said that they use UPI for more than half of their payment transactions. Similarly, 37 percent said that more than half of their payments are managed through UPI. This shows…
Mobile wallet companies were the biggest beneficiaries of Prime Minister Narendra Modi’s demonetisation decision. The government-backed Unified Payments Interface (UPI) was not in the news initially. But now the government has started marketing this platform. Despite being an excellent platform, UPI was not liked by many people during demonetisation. Through UPI, you can make payments…