Page 2 - Digital Payment

PhonePe revenue up 138% to Rs 1,646 cr; losses narrow to Rs 671 cr in FY22

Better revenue was primarily driven by robust growth across all businesses; contribution margin grew to 88% from 84% the previous year

Travelling to Europe? Now make hassle-free payments using UPI on your phone

Those visiting Europe will be able to make payments through UPI as the NPCI International Payments Ltd (NIPL) has entered into a partnership with European payment services facilitator Worldline. NIPL is the global arm of the National Payments Corporation of India (NPCI). The partnership between NIPL and Worldline is aimed at expanding acceptance of Indian payment means across Europe, according to a joint release issued on Tuesday. Under the partnership, Worldline's QR code-based mechanism will allow merchants' Point-of-Sale (PoS) systems in Europe to accept UPI payments from Indians using their mobile phones. Later on, the Indian customers will also be able to use their RuPay debit or credit cards to make payments in Europe. This will result in a multitude of customer-related merchant benefits due to an increase in footfall and spending from Indian tourists, NPCI and Worldline said in the release. Currently, Indian customers pay through international card networks when they trav

No break-up fee from Prosus after termination of deal with BillDesk

PayU's expansion plans which it had charted out based on the acquisition have been put on hold for over a year

PhonePe completes process to move domicile from Singapore to India

All businesses, and entities now owned by and consolidated under PhonePe Pvt Ltd-India

NPCI sets Oct 31 as deadline to activate offline payments on RuPay cards

The move will breathe life into the RBI's January 3 framework which sought to give a fillip to offline payments and lead to the activation of the One Nation, One Card for on-the-go payments

UPI Lite: A payment method that allows you to pay without PIN or internet

The upper limit for payments has been set at Rs 200; wallet balance cannot exceed Rs 2,000 at any point

Amazon Seller Services reports Rs 3.6K-crore loss; revenue up 32%

E-commerce firm's units for digital payments and selling cloud service report losses too for FY22

India leading globally in digital payments, says Rajeev Chandrasekhar

Under PM Kisan Samman Nidhi Yojana, up to Rs 19,000 crore were transferred directly into bank accounts of 95 million beneficiaries in a single day, he added

The case for pricing UPI transactions and what's at stake for banks

Banks pay a switching fee running into hundreds of crores every year for UPI, but have to offer the service for free

Easebuzz gets RBI's in-principle nod for Payment Aggregation Authorisation

In March 2020, RBI issued guidelines to regulate the Payment Aggregators and Payment Gateways that facilitate payments in the online space

Fintech firm Twid raises $12 mn to expand reward points-based service

Company has more than 40 million registered users and it works with 50,000 merchants

UPI-type protocol ONDC to be gradually expanded to more cities: Goyal

The presence of open network for digital commerce, a Unified Payments Interface-type protocol, will be gradually expanded to more cities after the successful launch of its pilot phase

BharatPe back on track after Ashneer controversy, records 112% growth

BharatPe said it also reached an all-time high of $18.5 billion in annualised total payment value (TPV) -- a growth of 50 per cent over the last quarter

Phishing in troubled waters? Take cover in cyber liability, say experts

Protect family's data, finances; consider floater cover as well

India saw 9.36 bn transactions worth Rs 10.2 trn in Q1 2022, UPI leads

India saw 9.36 billion transactions amounting to Rs 10.25 trillion in the first quarter (January-March period) via various payment modes led by UPI, a new report showed

As RBI rings in changes, here is why SBI Cards is the darling of analysts

SBI Cards' market share in terms of the number of credit cards has moderated by around 10 basis points to 19.1 per cent

Payments Vision 2025: RBI aims to regulate BigTech, FinTechs, BNPL services

Other goals in RBI's vision document include launch of CBDC, linking credit cards and credit components of banking products to UPI

Is India ready for tokenization this time?

Last year, the RBI directed merchants not to store customer card details on their servers. And the revised implementation date is drawing close now. Is India ready for this big payment system reform?

TCS to take decade-long relationship with SBI Cards to a new level

The tech firm will expand the next leg of digital transformation at SBI Cards

PPI rapidly catching on as a bottom-of-the-pyramid transaction system

These PPI options are fast becoming the cards of choice for the vast majority of Indians as per capita income creeps upwards.