Unified Payments Interface

In a Q&A, the company's CEO dwells on the huge opportunity the payments business provides in India and why there is a sudden rush to acquire an aggregator licence

There are more than 7 billion transactions every month using the payment system - more than five transactions for every man, woman and child in the country

As NPCI seeks to integrate digital wallets on the UPI platform is expected to be positive for Paytm, which has a 60 per cent share in wallets

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

These vending machines will dispense coins against a debit to the customer's account. The process will use Unified Payments Interface (UPI) instead of physical tendering of notes

In the calendar year 2022, UPI processed over 74 billion transactions, worth Rs 125.94 trillion, NPCI data showed

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

The unified payments interface (UPI) transactions witnessed a meteoric 650 per cent rise at the semi-urban and rural stores in India this year, a report showed on Tuesday

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In CBDC, the core banking will have a one-time debit for currency purchase, but all subsequent transactions, which move from wallet to wallet

Though technology is driven from places such as Bengaluru, Al Olama said it is coming from the rest of the world as well

Separately on Thursday, at the G-20 meeting, Sitharaman called on her counterparts to work together from the current geopolitical risks from worsening

The National Payments Corporation of India's international unit has signed a string of deals over the past two years with foreign companies and central banks. Can the UPI become a global service?

G-20 member nations must discuss all these issues irrespective of the conflict and arrive at certain principles to take the world forward

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On a year-on-year (YoY) basis, volume of transactions was up 85.55 per cent and value of transactions was up 70.61 per cent during the same period.

Asbe took over as MD&CEO of NPCI in Jan 2018. Prior to that, he was the firm's COO for close to 5 years

Defying the after-effects of pandemic-related pay cuts and job losses, the credit cards business is booming like never before

'Unbridled mushrooming of digital lending apps is a material concern'