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Articles for Mdr, search results for transactions

Explained | India’s UPI push
1 year, 10 months ago

Explained | India’s UPI push

The Hindu  

The story so far: On January 10, the National Payments Corporation of India paved the way for international numbers to be able to transact using UPI. Addressing theinfrastructural and technological changes required to support such payments, he said, “Currently, all the internal systems as well as ecosystem players such as banks, NPCI, etc only understand India-based mobile numbers for UPI …

Payments Digital Payments Payment Accounts Transactions Upi Rupay
Making UPI Viable For Both The Public And The Facilitators
2 years, 1 month ago

Making UPI Viable For Both The Public And The Facilitators

Live Law  

Unified Payments System was launched by the National Payments Corporation of India with the aim of integrating the payment mechanisms of India. However, this lack of a transaction fee on UPI platforms has become a bone of contention between the Finance Ministry and the Payment Council of India, which represents the digital payment aggregators operating in India. For the same, …

India Digital Payment Cost Public Fee Rbi
UPI payments to be charged? Finance ministry responds
2 years, 4 months ago

UPI payments to be charged? Finance ministry responds

India Today  

The central government has clarified its position on reports claiming that it may levy additional charges on UPI payments. The tweet also said that the cost of recovery has to be met through other means, and the government has provided financial support for the digital payments ecosystem in the country. Although the paper did not only relate to UPI transactions, …

Payments Digital Payments Digital Upi Mdr Upi Transactions
UPI: the dawn of digital fintech nirvana
2 years, 5 months ago

UPI: the dawn of digital fintech nirvana

The Hindu  

If you own a smartphone, you have most probably done UPI-based payments using BHIM or some other mobile application. Secondly, a Payment Service Provider takes care of the to-and-fro transactions to this VPA and finally, the UPI software orchestrates the fund movement from a customer’s VPA to a target VPA and completes the transaction. A ubiquitous payment system The popularity …

India Payments Mobile Indian Bank Payment Transaction
2020 in review: Digital payments policy initiatives in 2020 that could have a lasting impact
3 years, 1 month ago

2020 in review: Digital payments policy initiatives in 2020 that could have a lasting impact

Firstpost  

Globally, the pandemic has had a transformative impact on digital payments in terms of adoption and growth. The RBI’s persistent steps furthering digital payments have supported last year’s challenges and forced wide-spread digitization. Avenues emerging last year to further UPI include recurring payments via UPI AutoPay, UPI based remittances and cross-border payments, NPCI’s international subsidiary) and offline PoS payments via …

Innovation Infrastructure Payments Digital Payments Digital Focus Payment Systems