Dive into the tech & future
Online payments through unified payment interface (UPI) have become increasingly popular. The extent of popularity is such that Prime Minister Narendra Modi said that digital transactions will soon surpass with UPI becoming the most preferred payment mechanism in the country. While the digital payments are being used by people in transactions, the threats from cybercriminals … Read more
There was much to celebrate on the tech policymaking circuit this week when Singapore integrated the Unified Payments Interface (UPI). The system moved one more step to challenge the hegemony of Mastercard and Visa as a global payment system. But this narrative went untold in the political optics of it all. “The closest analogy I … Read more
India’s homegrown Paytm Payments Bank is currently the only platform to exclusively offer UPI Lite payments, which enables faster real-time transactions with a single tap on the Paytm app. Paytm UPI Lite will never fail even during peak transaction hours, even when banks have success rate issues, according to a Paytm’s statement released on Friday. Paytm UPI … Read more
India and Singapore have linked their respective digital payments systems, Unified Payments Interface (UPI) and PayNow, respectively. This linkage will enable those living in India to quickly send money to people living in Singapore. Here’s all you need to know about the collaboration.UPI and PayNow announcementThe announcement of linkage between UPI and PayNow was announced … Read more
In a push to make cross-border payments easy, India and Singapore have linked their respective digital payments systems, Unified Payments Interface (UPI) and PayNow. This collaboration will enable instant and low-cost fund transfers between the two nations. The linkage between the systems was announced by the Reserve Bank of India (RBI) Governor Shaktikanta Das and … Read more
The 17th India Digital Summit (IDS 2023) was inaugurated by Mr Sanjay Gupta, Country Head and VP, Google India, and Chairman, Internet and Mobile Association of India (IAMAI), on February 20-21, 2023. In his opening address, Mr Gupta noted that India presents a unique opportunity for technology solutions that can surmount the country’s vast disparities … Read more
Paytm Payments Bank Limited (PPBL) is now live with its UPI LITE, a feature enabled by National Payments Corporation of India for multiple small-value UPI transactions. The UPI LITE feature enables faster real-time transactions with a single click through Paytm as the bank aims to drive the adoption of digital payments across the country. Designed … Read more
PhonePe, Indian digital payments and financial technology company, has launched support for cross-border UPI payments, under UPI International. The apps’ users can now use their Indian bank accounts to pay at merchant outlets in the UAE, Singapore, Mauritius, Nepal and Bhutan, The Bhutan Live reported. Earlier, Indian users had to use either foreign currency in … Read more
The Reserve Bank on Friday issued instructions permitting travellers from G20 nations to use the mobile-based Unified Payments Interface (UPI) to make payments while in India. UPI is a system that bunches multiple bank accounts into a single mobile application, merging several banking features, seamless fund routing and merchant payments under a common platform. On … Read more
The government will roll out digital credit service this year which will enable even small street vendors to avail credit from large banks, Telecom and IT Minister Ashwini Vaishnaw said on Thursday. Speaking at ‘Digital Payments Utsav’, Vaishnaw said it will be rolled out like UPI service and will be a big achievement under Prime … Read more