RuPay

Credit cards can be linked to a UPI identity for secure payment transactions

The Cabinet on Wednesday approved a Rs 2,600 crore scheme for promoting RuPay debit cards and low-value BHIM-UPI transactions. Under the scheme, banks would be provided financial incentives for promoting Point of Sale (PoS) and e-commerce transactions using RuPay and UPI in the current financial year. It would help in building a robust digital payment ecosystem. The scheme would also promote UPI Lite and UPI123PAY as economical and user-friendly digital payments. "Cabinet approves the incentive scheme for promotion of RuPay Debit Cards and low-value BHIM-UPI transactions (Person-to-Merchant)," said an official tweet.

In the Union Budget for FY22, no funds were earmarked for recapitalising state-run banks. This was a decadal first, and will temper their eagerness to lend

Move likely to cause a spike in daily transaction values on this feature, see many UPI users absorbed into credit card ecosystem

'RuPay credit card UPI to see good traction if small merchant transaction stays within 10%'

Nirmala Sitharaman said that Singapore and UAE have shown interest to accept the RuPay payment system acceptable in their countries

Banking regulator flags conflict of interest concern

There will be no charge for RuPay credit card use on Unified Payments Interface (UPI) for transactions up to Rs 2,000 in line with the RBI direction, a recent NPCI circular said. RuPay credit card has been operational for the last four years, and all major banks are enabled and are issuing incremental cards for both commercial and retail segments. "During credit card on-boarding on the apps, the device binding and UPI PIN setting process shall include and be construed as customer consent for credit card enablement for all types of transactions," the circular dated October 4 said. For international transaction enablement, the existing process from the app will apply to credit cards too, the National Payments Corporation of India (NPCI) said in the circular. Nil Merchant Discount Rate (MDR) would apply for this category up to the transaction amount less than and equal to Rs 2,000, it noted. MDR is the cost paid by a merchant to a bank for accepting payment from their customers via

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

industry insiders say, the success rate of token-based transactions is higher, but inadequate testing of certain use-cases may result in some transactions not going through

PhonePe said it is working with three major card networks, Visa, Mastercard, and RuPay, to meet the regulator's tokenisation deadline of September 30.

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

Rama Mohan Rao Amara, MD & CEO, SBI Card spoke on the reasons behind record spends, the company's ideal run rate of issuance of credit cards, impact of RBI's discussion paper on payment charges.

The RBI has allowed the linking of RuPay credit cards with UPI. But it will also carry a merchant fee. Will UPI on credit cards take off? Or the merchant fee will spoil the party? Let's find out

NPCI set to seek RBI nod for scheme; free swipes at smaller outlets

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.

RuPay transaction volumes rose marginally during the pandemic, value rose 40 per cent

What to look for in Q4 FY22 corporate earnings? What are Tata Consumer Products MD Sunil D'Souza's business plans? Is the selling in Indian equities overdone? What is RuPay? Find all answers here

Chief operating officer of National Payments Corporation of India, Praveena Rai, had said the aim of RuPay was to serve the entire population. That's an ambitious goal. Let's understand what RuPay is.

Praveena Rai, chief operating officer, National Payments Corporation of India speaks to Subrata Panda about the journey of RuPay and the aim of the umbrella organisation for operating retail payments