The National Payments Corporation of India (NPCI), the government-owned body that governs the Unified Payments Interface (UPI), reportedly held a meeting to discuss ways to empower new players in the UPI ecosystem. According to a report in Economic Times, several new third-party payments apps on UPI are being nudged by NPCI to invest and incentivise …
Image Credits: Nasir Kachroo / NurPhoto / Getty Images The National Payments Corporation of India (NPCI), the governing body overseeing the country’s widely used Unified Payments Interface (UPI) mobile payment system, is set to engage with various fintech startups this month to develop a strategy to address the growing market dominance of PhonePe and Google …
Indian citizens visiting or working in the United Arab Emirates can now use the PhonePe app to make payments using the United Payments Interface (UPI) at Mashreq’s Neopay terminals. These transactions are facilitated by UPI, and the account debit will occur in Indian rupees, with the terminals showing the currency exchange rate, PhonePe said in a Thursday (March 28) press release. Non-resident …
Paytm’s regulatory troubles appear to have pushed Indian consumers to Walmart and Google-owned payments operations. Data released Wednesday (March 5) by the National Payments Council of India (NPCI) showed that the value of Paytm payments made using the country’s Unified Payments Interface (UPI) system fell 14% between January and February. Meanwhile, PhonePe, owned by Walmart and Google’s GPay, saw a respective 7% and 6% …
Google is rolling out the SoundPod — the company’s wireless speaker that can verify payments received over the Unified Payments Interface (UPI) instant payment system — to small merchants in India, the company announced on Thursday. The company started testing the device as part of a limited trial last year and has revealed that the rollout …
MUMBAI: As Paytm battles a regulatory crisis, its fintech peers are attempting to capitalise on the opportunity and gain market share. While bigger players like PhonePe certainly have the advantage of deeper pockets, wider reach and resources, other firms like BharatPe and MobiKwik also seem to be benefitting. Industry sources said that BharatPe has seen …
Paytm Trust Issues: A ripple of panic spread through India’s vibrant Kirana stores after the Reserve Bank of India’s decision to stop Paytm Payments Bank’s operations after February 29. For many, Paytm’s QR code had become synonymous with digital payments, but with its sudden halt looming, Kirana owners faced a crucial decision: adapt or be …
Image Credits: Aparna Jayakumar / Bloomberg / Getty Images India is facing a quandary in enforcing long-delayed rules to curb the dominance of PhonePe and Google Pay in the country’s ubiquitous UPI payments network. The National Payments Corporation of India (NPCI), a special unit of the central bank, wants to cap market share of any …
The National Payments Corporation of India (NPCI) has an important message for third-party UPI apps like Google Pay, Paytm, PhonePe etc. and others. In a circular issued recently, NPCI has asked third-party apps and banks to deactivate the UPIIDs and numbers that have been inactive for more than a year. For those unaware, NPCI is …
Digital transactions in India have been revolutionised through the introduction of Unified Payments Interface (UPI). It offers unmatched convenience and speed when it comes to transferring money or making payments. However, there may be instances when you need to reverse a UPI transaction due to reasons such as accidental transfers, incorrect recipients, or unauthorised payments. …