Real-time payment systems continue to see strong usage worldwide. One of the most significant developments is the European Council’s new rule to enable instant payments across the European Union and European Economic Area. Under this regulation, instant credit transfers must arrive in recipients’ accounts within 10 seconds, regardless of the date or time of day. …
The Reserve Bank of India (RBI) asked the National Payments Corporation of India (NPCI) to consider One97 Communications’ request to become a Third-Party Application Provider (TPAP) for the Unified Payments Interface (UPI) channel. The move is meant to enable continued operation of the Paytm app after RBI placed business restrictions on Paytm Payments Bank, RBI …
Modi posted on X saying, âThe launch of India’s UPI services in Sri Lanka and Mauritius underscores the robust linkages between our countries.â Here’s a list of the countries that have started accepting payments through UPI: 1 – Bhutan (UPI) NPCI International Payments Ltd (NIPL), the international arm of National Payment Corporation of India (NPCI) …
Unified Payment Interface (UPI) has become one of the most popular ways for transactions in India. To improve convenience in payments, the governor of the Reserve Bank of India (RBI) recently launched a new feature called UPI Lite X. This feature will allow users to send and receive money while being completely offline. RBI governor …
Unified Payments Interface (UPI) is the real-time payment mechanism. The instant payment system allows users to instantly transfer money to any bank account. Run by the National Payments Corporation of India (NPCI), UPI recently achieved a new milestone. UPI transactions in the month of August crossed 10 billion. Data from NPCI shows that 10.5 billion …
After establishing its presence in Singapore, UAE, Nepal, Bhutan, and France, Sri Lanka has now become the latest country to adopt India’s Unified Payments Interface (UPI) payment service. Prime Minister Narendra Modi and Sri Lanka President Ranil Wickremesinghe have signed an agreement to enable Sri Lanka to accept UPI payments. This agreement was made during …