Payment Systems

Speaking about India's central bank digital currency (CBDC, also known as e-rupee), Sankar said the RBI was looking to expand the use cases for wholesale CBDC

Public sector Indian Bank on Sunday said it has unveiled QR code bill payment system for Chamundeshwari Electricity Supply Corporation Ltd (CESC) making it as the first power distribution company to offer such an initiative to customers in Mysuru. By using the dynamic QR code linked to the unified payments interface (UPI) on printed electricity bill, customers would be able to make their payments without visiting any online portal or physically going to any payment centre. Instant acknowledgement is issued and the QR code is disabled once the transaction is completed, the Chennai-headquartered bank said in a statement here. Karnataka Minister of Energy V Sunil Kumar formally unveiled the QR code solution in the presence of senior government officials including CESC managing director Jayavibhava Swamy. The CESC is in the process of introducing a new type of bill generation and payment system in coordination with Indian Bank besides a facility to make RTGS-NEFT payments for bulk ...

The central bank had released a discussion paper in August that outlined existing rules for charges, while presenting other options through which these could be levied

Open-source Aadhaar and UPI will be two top digital public goods offered; govt trying to take QR-based authentication and payment services global following success of DBT, payment digitisation

Pinelabs, MSwipe, Ezetap, FSS, Hitachi payments, Worldline, etc. are some offline payment aggregators

Roughly 350 million tokens have been created so far, Rabi Sankar said in the post-monetary policy press conference.

The ED has frozen Rs 9.82 crore worth funds kept in merchant IDs with certain online payment gateways as part of an ongoing money laundering investigation against a "Chinese-controlled" investment token app. This is the second time that the ED has frozen funds kept in merchant IDs with certain online payment gateways. "Various Chinese-controlled entities like Comein Network Technology Private Limited and others, in service agreements with various NBFCs (non banking financial companies) were also operating multiple suspicious loan/other apps such as Cashhome, Cashmart, Easyloan etc. and they indulge in receiving funds from public on pretext of operating these apps (mobile applications)," the federal agency said in a statement. The app-based token under investigation in this case is HPZ and the entities whose funds have been frozen under the anti-money laundering law include Comein Network Technology Private Ltd, Mobicred Technology Private Ltd, Magic Data Technology Private Ltd, Bait

Sebi's planned move could upend Rs 30,000-crore broking industry

Tokenisation is the replacement of an actual or clear card number with an alternative code called the "token"

Russia's disconnection from the SWIFT international payment system could result in unexpected consequences, as several countries are now considering the development of alternative instruments

They overtake debit cards for e-commerce and bill payments but remain a minuscule portion of personal loans

The documents are open for public consultation and the comments would be accepted till September 21

Payment system participants will be provided access to this registry for near-real time fraud monitoring. The aggregated fraud data will be published to educate customers on emerging risks

Charges for payment services should be reasonable and competitively determined for users while also providing optimal revenue stream for the intermediaries, states the discussion paper

Bharat Bill Payment System (BBPS), under the aegis of the RBI, allows recurring utility bill payments through an integrated platform

Understand all the attendant costs of this facility; delayed repayment will hit your credit score

NPCI will come up with the guidelines in consultation with the ecosystem. It will send a formal proposal to the RBI, and after the apex bank's nod, it will be operationalised.

The world's most popular internet search engine said the fee cut applies only to European consumers

The Reserve Bank of India and Bank Indonesia on Saturday entered into an agreement to expand cooperation in payment systems, digital financial innovation

In a Q&A, Minitifi's co-founder and CEO Anup Agarwal talks about how it has enabled distributors and retailers to increase sales