UPI Payment Without Internet, Smartphone: RBI to Launch UPI for Feature Phones Today
2 years, 9 months ago

UPI Payment Without Internet, Smartphone: RBI to Launch UPI for Feature Phones Today

News 18  

You don’t need a smartphone or internet connection to do Unified Payments Interface payments anymore. To enable thousands of feature phone users with the digital payment ecosystem in the country, the Reserve Bank of India is all set to launch UPI123Pay on Tuesday. Why UPI Payment for Feature Phones RBI governor Shaktikanta Das announced to launch a UPI-based payment system for feature phones on November 8, 2021.”In order to further deepen digital payments and make them more inclusive, ease transactions for consumers, facilitate greater participation of retail customers in various segments of the financial markets and enhance the capacity of service providers, it is proposed to launch UPI-based payment products for feature phone users leveraging on the Reserve Bank’s regulatory Sandbox on Retail Payments,” said Das. This process will make the small-value transactions simpler than ever “through a mechanism of ‘on-device’ wallet in UPI applications.” “India has a large mobile phone consumer base of about 118 crore mobile users 1 of which about 74 crore have smart phones indicating that there is a significant number of feature phone users in the country. These products, coupled with other complimentary solutions, will facilitate UPI-based digital payment solutions on feature phones to promote wider digitisation,” mentioned a statement released by the Reserve Bank of India.

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History of this topic

From new limits to new features: All changes made in UPI in 2024
5 days, 12 hours ago

From new limits to new features: All changes made in UPI in 2024

India TV News  

The number of people making online payments through UPI is growing rapidly, doubling during the day and quadrupling at night. According to NPCI data released in November, there were approximately 15.48 million UPI transactions, amounting to an impressive Rs 21.55 lakh crore. Previously capped at Rs 5,000, the new daily limit is now Rs 10,000, allowing these users to conduct …

NPCI's International Arm Plans To Expand UPI To 4-6 New Countries In 2025
5 days, 14 hours ago

NPCI's International Arm Plans To Expand UPI To 4-6 New Countries In 2025

ABP News  

NPCI International Payments, the entity tasked with expanding NPCI’s homegrown payment products globally, is working to extend the reach of the Unified Payments Interface to four to six additional countries in 2025, up from the current seven, according to Ritesh Shukla, CEO of NIPL. NIPL, a wholly-owned subsidiary of the National Payments Corporation of India, aims to launch UPI in …

RBI Allows Small Finance Banks to Give Credit on UPI
2 weeks, 3 days ago

RBI Allows Small Finance Banks to Give Credit on UPI

Deccan Chronicle  

Mumbai: The Reserve Bank of India on Friday allowed small finance banks to offer pre-sanctioned credit lines through Unified Payments Interface. Till now, only scheduled commercial banks were allowed to offer pre-sanctioned credit lines on the flagship payments platform. The central bank in its monetary policy also made several positive announcements for banks such as raising the FCNR deposit rates, …

Credit Lines on UPI: RBI Governor Shaktikanta Das says small finance banks to now offer facility
2 weeks, 3 days ago

Credit Lines on UPI: RBI Governor Shaktikanta Das says small finance banks to now offer facility

Live Mint  

Reserve Bank of India Governor Shaktikanta Das, during the Monetary Policy Committee meeting announcement on December 6, said the bank's facility of providing credit lines through Unified Payments Interface will now be expanded. RBI MPC keeps policy rate unchanged — Details The RBI MPC today decided to keep the policy rate unchanged for the 11th consecutive time, but sharply lowered …

RBI to allow small finance banks to extend pre-sanctioned credit lines through UPI, check details
2 weeks, 4 days ago

RBI to allow small finance banks to extend pre-sanctioned credit lines through UPI, check details

India TV News  

In a latest development, the Reserve Bank of India on Friday proposed to allow small finance banks to extend pre-sanctioned credit lines through Unified Payments Interface. Credit line on UPI has the potential to make available low-ticket, low-tenor products to "new-to-credit" customers, RBI Governor Shaktikanta Das said. The scope of UPI was in September 2023 expanded by enabling pre-sanctioned credit …

UPI 123 Pay: Key changes to come into effect before January 1
1 month ago

UPI 123 Pay: Key changes to come into effect before January 1

Live Mint  

The Reserve Bank of India had extended the transaction limit from ₹5,000 to ₹10,000 for UPI 123Pay on October 9. Those who are unaware, UPI 123PAY enables digital payments on feature phones to access UPI services without internet connection. The members will collectively identify and tag UPI 123Pay transactions as per the rules given below: A.) C.) Initiation channel On …

How to make UPI payments without using internet? An easy guide
3 months, 2 weeks ago

How to make UPI payments without using internet? An easy guide

India TV News  

Many users often face poor internet connection while making UPI payments. To address this issue, NPCI has recently introduced a feature that allows users to make UPI payments without internet access. If you find this feature interesting and want to learn how to make UPI payments without using the Internet, here is a step-by-step guide. A step-by-step guide on how …

Google Pay adding UPI Circle to help add secondary user in payment app
3 months, 3 weeks ago

Google Pay adding UPI Circle to help add secondary user in payment app

The Hindu  

Google Pay, during the Global Fintech Fest 2024, shared that it is adding UPI Circle feature in the Pay app to enable your family or close and trusted friends to make UPI payments without adding their own bank accounts. As an existing UPI user on Google Pay, you can add your family members or friends as secondary users to your …

Swiggy integrates UPI for 5-second in-app payments: How does it work?
4 months, 1 week ago

Swiggy integrates UPI for 5-second in-app payments: How does it work?

India TV News  

Swiggy, a popular online food delivery platform has recently announced the launch of 'Swiggy UPI', a new integration of National Payments Corporation of India’s digital payments solution. Users could complete UPI transactions without leaving the Swiggy app, which will reduce the payment process from five steps to just one, the food aggregator stated in a statement. Anurag Panganamamula, Head of …

RBI’s Digital Rupee: Google, PhonePe, Amazon Pay, Cred, and Mobikwik To join digital currency pilot project
4 months, 2 weeks ago

RBI’s Digital Rupee: Google, PhonePe, Amazon Pay, Cred, and Mobikwik To join digital currency pilot project

The Hindu  

Google, PhonePe, Amazon Pay, Cred and Mobikwik are looking to join Indian central bank’s digital currency project by offering transactions in e-rupee, a digital alternative to the physical currency. The news comes as transactions using the digital currency reached over a million a day last year, however, they have declined ever since, to about 100,000-200,000 a day. However, in April …

In Bengaluru’s IT Hub, Paytm’s NFC Card Soundbox Sets New Standards for Digital Payments
4 months, 3 weeks ago

In Bengaluru’s IT Hub, Paytm’s NFC Card Soundbox Sets New Standards for Digital Payments

Hindustan Times  

Bengaluru, India's tech capital, continues to lead the way in technological advancements. The recent launch of Paytm’s NFC Card Soundbox is further reinforcing this trend. During a live event marking the launch of Paytm NFC Card Soundbox, Founder and CEO Vijay Shekhar Sharma engaged with prominent local merchants nationwide, including Gaurav from the renowned Rameshwaram Cafe in Bengaluru. The NFC …

Indian Banks Want Customers, But No Smartphones Please
4 months, 3 weeks ago

Indian Banks Want Customers, But No Smartphones Please

Live Mint  

-- In the past year, more than 600 Indian banks moved $2.5 trillion, or 80% of gross domestic product, between customer accounts. “Banks shall assign an additional 5% run-off factor for retail deposits which are enabled with internet and mobile banking,” the monetary authority said in a circular last week on liquidity standards. A bigger slice of low-risk, low-return assets …

Telangana electricity bills cannot be paid directly on UPI apps, online through TG discom websites only: TGSPDL clarifies
5 months, 3 weeks ago

Telangana electricity bills cannot be paid directly on UPI apps, online through TG discom websites only: TGSPDL clarifies

The Hindu  

In a move that is likely to cause inconvenience in payment of monthly energy bills, the power utilities in Telangana – TGSPDCL and TGNPDCL – has asked all their consumers to make the payments through their official website or mobile app since payment through all payment gateways and banks has been stopped from Monday, July 1. End to use of …

PhonePe offers money to businesses who can do THIS: Details here
6 months ago

PhonePe offers money to businesses who can do THIS: Details here

India TV News  

The PhonePe Payment Gateway has announced the launch of its referral program called the 'PhonePe PG Partner Programme'. "With the launch of the PhonePe PG Partner Programme, we are reaffirming our dedication to empowering businesses through cutting-edge payment solutions and rewarding partnerships," said Ankit Gaur, Head PhonePe Payment Gateway and Online Merchants. This move will allow Indian travellers to make …

RBI’s digital rupee must leap over many hurdles for wider adoption
6 months, 1 week ago

RBI’s digital rupee must leap over many hurdles for wider adoption

Live Mint  

The Reserve Bank of India has been striving to boost the adoption of its Retail-Central Bank Digital Currency or e-rupee. RBI is also aiming to onboard more non-bank payment service operators and make the e-rupee inter-operable with India’s Unified Payments Interface. Despite having clearly defined use-cases for their country-specific CBDCs, these pilot projects suffered from weak internet connectivity and poor …

Adani Group to enter UPI, digital payment, credit card business to compete Google and Reliance: Report
6 months, 3 weeks ago

Adani Group to enter UPI, digital payment, credit card business to compete Google and Reliance: Report

Live Mint  

Adani Group is in discussions to enter the e-commerce and payments space as the conglomerate develops a digital company to rival Google and Reliance Industries, owned by Mukesh Ambani, in the world’s most populous country, according to the Financial Times, which cited sources. As per the news report, it is also negotiating to provide online shopping via the Open Network …

PhonePe launches UPI services in Sri Lanka in collaboration with LankaPay
7 months, 1 week ago

PhonePe launches UPI services in Sri Lanka in collaboration with LankaPay

Op India  

India’s fintech company PhonePe Unified Payments Interface has been launched in Sri Lanka. Central Bank of Sri Lanka Governor Nandalal Weerasinghe and India’s High Commissioner to Sri Lanka Santosh Jha attended the launch event in Sri Lanka. @PhonePe UPI payments goes live in Sri Lanka with HC @santjha & @CBSL Governor Dr. Nandalal Weerasinghe gracing the launch event. @PhonePe UPI …

Tech Tonic | The gaps in India’s digital payments ecosystem need plugging
7 months, 4 weeks ago

Tech Tonic | The gaps in India’s digital payments ecosystem need plugging

Hindustan Times  

There is little doubt that Indians are spending more than ever before. You cannot use your credit card or debit card for subscriptions and recurring payments on the Apple App Store or the Google Play Store, be it for any app or service. Then there was a pursuit of getting RuPay credit cards aboard the UPI or unified payments interface. …

PhonePe, Razorpay rival PayU Payments cleared by RBI to operate as payment aggregator
7 months, 4 weeks ago

PhonePe, Razorpay rival PayU Payments cleared by RBI to operate as payment aggregator

Hindustan Times  

PayU Payments has received the Reserve Bank of India's in-principle nod to operate as a payment aggregator. PayU has received RBI's nod to operate as a payment aggregator. Notably, the central bank had returned PayU’s application to operate as a payment aggregator and even stopped it from onboarding new merchants. PayU India revenue was reported at $400 million in FY23 …

HDFC Bank NetBanking down: What mobile alternatives can you use?
8 months ago

HDFC Bank NetBanking down: What mobile alternatives can you use?

Hindustan Times  

HDFC Bank NetBanking down: On Monday, April 22, HDFC Bank customers encountered difficulties accessing NetBanking services in India. {{^usCountry}} {{/usCountry}} For many consumers, especially those who undertake larger transactions or need functionality not found in mobile apps currently, NetBanking is still their preferred platform. {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} Offering a wide range of benefits like convenience, availability, speed, cost-effectiveness, security, …

HDFC Bank NetBanking down: What mobile alternatives can you use?
8 months ago

HDFC Bank NetBanking down: What mobile alternatives can you use?

Hindustan Times  

HDFC Bank NetBanking down: On Monday, April 22, HDFC Bank customers encountered difficulties accessing NetBanking services in India. The bank posted on X, stating, "A few customers may experience issues while accessing NetBanking. For many consumers, especially those who undertake larger transactions or need functionality not found in mobile apps currently, NetBanking is still their preferred platform. Offering a wide …

Paytm starts migrating users to new UPI IDs: What changes for you?
8 months ago

Paytm starts migrating users to new UPI IDs: What changes for you?

Hindustan Times  

One97 Communications Limited, Paytm's parent company, began migrating customers to partner payment service provider banks Axis Bank, HDFC Bank, SBI and Yes Bank. Until now, Paytm UPI customers were using Paytm Payments Bank Limited which was barred by the Reserve Bank of India from conducting several business operations. Paytm roped in Axis Bank, Yes Bank, SBI and HDFC Bank as …

India plans to curb Google, PhonePe’s dominance in mobile payments: Report
8 months ago

India plans to curb Google, PhonePe’s dominance in mobile payments: Report

The Hindu  

India’s governing body overseeing the country’s Unified Payments Interface mobile payments system is set to engage with fintech startups to develop a strategy to address the growing market dominance of companies including PhonePe and Google pay in the UPI ecosystem. The National Payments Corporation of India plans to meet executives from companies including CRED, Flipkart, Fampay, and Amazon to discuss …

E-rupee boost: RBI to enhance role of digital currency, allow non-bank operators to offer CBDC wallets
8 months, 2 weeks ago

E-rupee boost: RBI to enhance role of digital currency, allow non-bank operators to offer CBDC wallets

Hindustan Times  

In his statement released today, the Reserve Bank of India Governor, Shaktikanta Das, has indicated the central bank’s interest in enhancing the scope of digital currency in India. The RBI Governor said the central bank was looking to promote CBDC and that too by enhacing its scope through Non-bank Payment System Operators and thereby boost retail use. It is proposed …

Yes Bank, Axis Bank go live on Paytm's UPI platform: What you need to do
9 months, 1 week ago

Yes Bank, Axis Bank go live on Paytm's UPI platform: What you need to do

Hindustan Times  

Paytm UPI: National Payments Corporation of India gave One97 Communications Limited- Paytm's parent company- approval to be a third-party app on UPI platform. Following this, Yes Bank and Axis Bank went live on Paytm app using which users can create new handles. Paytm UPI: RBI's deadline for Paytm Payments Bank Limited to stop all banking operations ends today. New users …

Paytm Gets TPAP License from NPCI for UPI Payments
9 months, 1 week ago

Paytm Gets TPAP License from NPCI for UPI Payments

Deccan Chronicle  

Mumbai: The National Payments Corporation of India has granted approval to One97 Communications Limited the parent of Paytm to participate in UPI as a Third-Party Application Provider under the multi-bank model. YES Bank shall also be acting as merchant acquiring bank for existing and new UPI merchants for OCL. OCL has been advised to complete migration for all existing handles …

Paytm gets third-party app license from NPCI to perform UPI transactions
9 months, 1 week ago

Paytm gets third-party app license from NPCI to perform UPI transactions

India TV News  

Paytm, the leading digital payments platform in India, has been granted a third-party application provider license by the country's payments authority. License to ensure seamless payments The newly acquired license enabled Paytm to serve as a third-party application provider, allowing customers to conduct transactions through India's unified payment interface. Partnerships with leading banks Axis Bank, HDFC Bank, State Bank of …

Flipkart brings new UPI handle to drive digital economy in India
9 months, 3 weeks ago

Flipkart brings new UPI handle to drive digital economy in India

India TV News  

Flipkart, an e-commerce marketplace launched its Unified Payments Interface handle to enhance further its digital payment which will offer all the customers, including its 500+ million customers. In its first phase, Flipkart has partnered with Axis Bank, wherein users can register for UPI with @fkaxis handle for their digital transactions using the Flipkart app. Dheeraj Aneja, Senior Vice President - …

NPCI to examine Paytm's third-party app request for UPI: RBI
10 months ago

NPCI to examine Paytm's third-party app request for UPI: RBI

Hindustan Times  

The Reserve Bank of India on Friday said it has advised National Payments Corporation of India to examine One97 Communication Limited's request seeking approval for the Third-Party Application Provider route for continuation of Paytm's Unified Payments Interface services. Paytm Payments Bank cannot onboard new customers after March 15 One97 Communication Limited is the parent firm of fintech major Paytm. On …

Beyond OTP: RBI looking for other authentication methods
10 months, 1 week ago

Beyond OTP: RBI looking for other authentication methods

New Indian Express  

Also, the central bank’s strict measures for authentication make it easier for customers who are afraid of being defrauded during an internet use to conduct their businesses without fear. This has played an important role in financial inclusion by enabling customers to make digital payment transactions through service providers such as business correspondents. Mandatory due diligence for AePS service providers …

UPI Services Will Begin in Sri Lanka and Mauritius
10 months, 1 week ago

UPI Services Will Begin in Sri Lanka and Mauritius

Deccan Chronicle  

Prime Minister Narendra Modi, along with Sri Lankan President Ranil Wickremesinghe and Prime Minister of Mauritius Pravind Jugnauth, will witness the launch of the Unified Payment Interface services in Sri Lanka and Mauritius and also the RuPay card services in Mauritius on Monday afternoon via video conferencing, New Delhi announced on Sunday. The launch of the service in India's southern …

Sri Lanka, Mauritius will get UPI services, PM Modi to be virtually present
10 months, 1 week ago

Sri Lanka, Mauritius will get UPI services, PM Modi to be virtually present

Hindustan Times  

Prime Minister Narendra Modi will be present at the launch of Unified Payment Interface services in Sri Lanka and Mauritius, and also RuPay card services in Mauritius, on 12 February, 2024 at 1pm via video conferencing, the ministry of external affairs said in a press release on Sunday. Prime Minister Narendra Modi will witness the launch of Unified Payment Interface …

Paytm set to operate as third-party app for UPI: Report
10 months, 2 weeks ago

Paytm set to operate as third-party app for UPI: Report

Hindustan Times  

One97 Communications Limited, the parent firm of crisis-hit Paytm, is focusing on the third-party payment app route to ensure that the fintech major's Unified Payments Interface remains available to its users, according to an Economic Times report. “Since Paytm Payments Bank will stop offering payment services, Paytm will become a third-party app going forward, integrating UPI through other lenders,” the …

RBI to introduce offline eRupee transactions soon: Shaktikanta Das
10 months, 2 weeks ago

RBI to introduce offline eRupee transactions soon: Shaktikanta Das

The Hindu  

Digital Rupee users will soon be able to execute transactions in areas with limited internet connectivity as the Reserve Bank of India on February 8 announced that offline capability will be introduced on the Central bank digital currency pilot project. RBI Governor Shaktikanta Das said that programmability-based additional use cases will be introduced as part of the pilot project. "It …

Will UPI service continue on Paytm? Company's response
10 months, 2 weeks ago

Will UPI service continue on Paytm? Company's response

Hindustan Times  

Paytm said that UPI service on Paytm will continue to work as normal as the company is working with other banks to make changes. Paytm UPI service falls under the Paytm Payments Bank, which was barred by the Reserve Bank of India from taking money from customers after February 29. Customers made 144.25 crore transactions on the Paytm Payment Bank …

UPI will continue to operate as normal, working with other banks for continuity of service: Paytm
10 months, 2 weeks ago

UPI will continue to operate as normal, working with other banks for continuity of service: Paytm

India TV News  

UPI service on Paytm will continue to work as normal as the company is working with other banks to make changes in the back-end for continuity of its services, the company said on Monday. While PPBL, the entity overseeing Paytm's UPI services, faces constraints on accepting money from customers after February 29, the company is working to connect with other …

From Kirana Stores To Chai Shops, Paytm Credit Card On UPI Is A Gamechanger For Payments
11 months, 1 week ago

From Kirana Stores To Chai Shops, Paytm Credit Card On UPI Is A Gamechanger For Payments

ABP News  

The convenience of digital transactions have become a fundamental aspect of our daily lives in today’s fast paced world. One such transformative force in the digital payment landscape is the integration of UPI payments through credit cards on the Paytm app. With just a smartphone, users can easily make UPI payments via credit cards on the Paytm app, powered by …

India’s Growth Story is Linked to Progress Made on Digitisation and Its Access
1 year ago

India’s Growth Story is Linked to Progress Made on Digitisation and Its Access

The Quint  

The committee on Deepening Digital Payments constituted by the RBI in 2019 under the chairmanship of Nandan Nilekani had recommended that market forces should drive transaction prices for the inclusion of small startups and incentivising innovation. It underlined that while banks have a role in contributing to the payment system, the government and the RBI should also share the cost …

RBI raises UPI transaction limits, e-mandate bar; check all announcements
1 year ago

RBI raises UPI transaction limits, e-mandate bar; check all announcements

Hindustan Times  

Reserve Bank of India Governor Shaktikanata Das on Friday announced several decisions on the Unified Payments Interface, including raising the Unified Payments Interface payment limit to hospitals and educational institutions to ₹5 lakh from ₹1 lakh. The UPI, India's mobile-based fast payment system, enables users to make instantaneous, round-the-clock payments via Virtual Payment Address UPI limits increased: While unveiling the …

Google to assemble Pixel phones in India from 2024
1 year, 2 months ago

Google to assemble Pixel phones in India from 2024

The Hindu  

Google, Inc. set a 2024 target to assemble its Pixel line of smartphones in India, the firm announced at its annual Google for India event on Thursday. The company said that it was firming up protections against financial frauds, saying it was engaged with the Reserve Bank of India and the National Payments Corporation of India on the issue. Saikat …

SBI launches ‘Mobile Handheld Device’ for financial inclusion customers
1 year, 2 months ago

SBI launches ‘Mobile Handheld Device’ for financial inclusion customers

Live Mint  

The State Bank of India has on October 4 launched a 'Mobile Handheld Device’ for its financial inclusion customers in a bid to enhance accessibility and convenience. Chairman Dinesh Khara in a statement said the initiative "aims to empower financial inclusion and extend essential banking services to the masses." The release added that the Mobile Handheld Device will "revolutionalise banking …

UPI crosses 10 bn transactions second time in September
1 year, 2 months ago

UPI crosses 10 bn transactions second time in September

Deccan Chronicle  

Chennai: With Unified Payments Interface crossing 10 billion transactions for the second straight month, this seems to have become the new normal for the payment interface. UPI recorded 10.56 billion transactions worth Rs 15.8 lakh crore in September, according to the National Payments Corporation of India. While the transaction volume marginally increased from Rs 15.76 lakh crore in August to …

UPI now, pay later: 2 banks have rolled out this facility
1 year, 3 months ago

UPI now, pay later: 2 banks have rolled out this facility

Live Mint  

Soon after the Reserve Bank of India expanded the scope of Unified Payments Interface by enabling transfer from credit lines, a few banks have rolled out this facility for ardent UPI users. HDFC Bank offers PayLater facility wherein a new account gets created when you activate PayLater on your UPI app. ICICI Bank also offers PayLater to offer instant digital …

Innovative partnership aims to extend offline CBDC Payments in India via feature phones
1 year, 3 months ago

Innovative partnership aims to extend offline CBDC Payments in India via feature phones

India TV News  

IDEMIA, a global leader in identity technology and biometric solutions, has joined forces with Airtel Payments Bank, a subsidiary of Bharti Airtel, and HMD Global, known for Nokia Phones, in order to reach the offline Central Bank Digital Currency payments in the country. Offline CBDC Payments This strategic partnership aims to introduce an advanced offline payment system enabling the use …

NPCI unveils a suite of digital-payment products
1 year, 3 months ago

NPCI unveils a suite of digital-payment products

The Hindu  

National Payments Corporation of India, the developer of UPI, has unveiled several new products — Credit Line on UPI, UPI LITE X and Tap & Pay, Hello! UPI - Conversational Payments on UPI, BillPay Connect - Conversational Bill Payments — with an aim to create an inclusive, resilient, and sustainable digital payments ecosystem. While Credit Line on UPI would enable …

India in talks with countries in LatAm, Africa for UPI, RuPay
1 year, 3 months ago

India in talks with countries in LatAm, Africa for UPI, RuPay

Live Mint  

New Delhi: India is in talks with several South American and African nations for introducing Unified Payment Interface and RuPay cards, in its efforts to establish the payment platforms internationally, a senior government official said. “The discussions are primarily on with high commissions embassies, and are at various stages of negotiations, as India looks to internationalise these platforms,” the official …

Digital Rupee CBDC RBI Governor Shaktikanta Das Can Prove To Be Game Changer For Cross-Border Payments:
1 year, 3 months ago

Digital Rupee CBDC RBI Governor Shaktikanta Das Can Prove To Be Game Changer For Cross-Border Payments:

ABP News  

In a recent keynote address at the G20 TechSprint Finale, Reserve Bank of India Governor Shaktikanta Das drew attention to the challenges surrounding cross-border payments, emphasising the issues of high costs and slow transaction speeds. Das indicated that the central bank digital currency — dubbed Digital Rupee — instant-settlement feature could offer a viable solution to these challenges. Despite advancements …

Know how to use UPI Lite on GPay, Paytm, and PhonePe: A quick guide
1 year, 3 months ago

Know how to use UPI Lite on GPay, Paytm, and PhonePe: A quick guide

India TV News  

In a move to cater to the needs of users making low-value transactions, popular payment gateways like Google Pay, PhonePe, and Paytm have introduced UPI Lite. Once you've added money to your UPI Lite balance, you can make payments of up to Rs 200 without entering your UPI PIN. It offers flexibility and convenience, allowing users to add up to …

Google Pay, PhonePe, Paytm users alert! Yes Bank has this good news for you
1 year, 4 months ago

Google Pay, PhonePe, Paytm users alert! Yes Bank has this good news for you

Live Mint  

YES BANK has launched UPI payments through RuPay Credit Cards. With this, customers can now link their YES BANK RuPay Credit Card with UPI-enabled apps such as BHIM, PhonePe, Paytm, Google Pay, Slice, MobiKwik, PayZapp, among others, making credit card-based transactions easier with enhanced security. “We are delighted to onboard YES BANK RuPay Credit Card customers to experience this cutting-edge …

Explained | RBI’s proposal for interoperability of credit and debit cards
1 year, 4 months ago

Explained | RBI’s proposal for interoperability of credit and debit cards

The Hindu  

The story so far: On July 5, apex banking regulator Reserve Bank of India floated a draft circular seeking comments from stakeholders about mandating that card issuers provide their customers with the choice of multiple card networks. The regulator has also proposed that cards be issued across more than one network, with issuers not enteringinto any arrangement or agreement with …

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