[ad_1] The National Payments Corporation of India (NPCI) has announced that a new set of regulations on Unified Payment Interface (UPI) system will be in effect from August 1. The new Application Programming Interface (API) usage rules for all banks and payment apps, including changes to AutoPay, and checking account balance will begin from the […]
Continue Reading
[ad_1] UPI has transformed the digital payments landscape in India, the IMF paper said. Photo: X/@UPI_NPCI A new paper published by the International Monetary Fund has lauded the impact of the Unified Payments Interface (UPI) system in India and has said those looking to move from cash to digital payments should also carry out the […]
Continue Reading
[ad_1] Image used for representational purpose only. | Photo Credit: Kamal Narang Starting April 1, merchant transactions exceeding ₹2,000 in value done using Prepaid Payment Instruments (PPI Wallets) on UPI will attract an interchange charge of 1.1%. However, “the new interchange charges are only applicable for the PPI merchant transactions and there is no charge to […]
Continue Reading
[ad_1] “Amrit Kaal Budget lays the roadmap of an all inclusive financial sector for India’s growthm”, PM Modi said during a webinar on Tuesday, March 7, 2023. | Photo Credit: Twitter@narendramodi Prime Minister Narendra Modi on Tuesday, March 7, 2023, urged India Inc to increase investment and take advantage of the opportunities unveiled in the […]
Continue Reading
[ad_1] Commerce and Industry Minister Piyush Goyal. | Photo Credit: MURALI KUMAR K. The Open Network for Digital Commerce (ONDC), a unified payments interface-type protocol, will help small retailers survive the onslaught of large tech-based e-commerce companies, Commerce and Industry Minister Piyush Goyal said on March 6. ONDC is an initiative of the Ministry to […]
Continue Reading
[ad_1] Cashless transactions: A customer paying through UPI to avoid cash transactions at a medical store in Visakhapatnam | Photo Credit: K.R. Deepak On Tuesday, the cross-border connectivity between India’s Unified Payments Interface (UPI) and Singapore’s PayNow was launched. UPI is a popular mobile payment service which allows instant credit transfer from one bank account […]
Continue Reading
[ad_1] Prime Minister Narendra Modi and his Singapore counterpart Lee Hsien Loong witness the launch of cross-border connectivity between the UPI of India and PayNow of Singapore via video conferencing. | Photo Credit: ANI India’s Unified Payments Interface — better known as UPI — and Singapore’s PayNow were officially connected on Tuesday, allow for a “real-time payment […]
Continue Reading
[ad_1] Prime Minister Narendra Modi. Prime Minister Narendra Modi, along with Singapore counterpart Lee Hsien Loong, on February 21 launched the cross-border connectivity of real-time digital payment systems via video conferencing. Now, the easy linkage between India’s Unified Payments Interface (UPI) and Singapore’s PayNow will allow residents across the two regions to undertake faster and […]
Continue Reading
[ad_1] Reserve Bank of India governor Shaktikanta Das, at a press conference at the RBI head office, in Mumbai, on December 7, 2022. | Photo Credit: AP Asserting that the newly-introduced Central bank digital currency (CBDC) does not leave any trail with a bank, RBI governor Shaktikanta Das on December 7 said there is no […]
Continue Reading
[ad_1] RBI governor Shaktikanta Das announced an additional function for Unified Payments Interface (UPI) platforms that would allow multiple debits. Mr. Das was effusive in his praise for the digital payment system in his address at the conclusion of the three-day Monetary Policy Committee’s (MPC) meeting. “UPI has emerged as the best payment system anywhere […]
Continue Reading