Page 13 - Digital Payments

Focus on technology

Banks must invest in improving customer interface

After outage, Trai puts on hold regulation on pesky SMS for one week

Users failed to receive text messages including one time passwords for online transactions , and banks attributed the glitches to Trai's new regulations which came into effect on Monday

New e-payment norms likely to block auto-subscriber route: Experts

Avoid exposing your data; use a virtual card instead

NPCI, SBI Payments join hands to launch "RuPay SoftPoS" for merchants

It will enable the merchants to turn their smartphones into a PoS machine

Facebook, Amazon, Google vie for piece of India's digital payment markets

The contest is fierce as regulator Reserve Bank of India is expected to give just one or two licenses, as implied in its notification inviting bids

Explained: What is NUE licence for retail payments and who's interested?

Customer retention, gains from float money and product innovation are the key reasons for banks to jump on the new for-profit platform for retail payments

Amazon, Google, Facebook vie for a piece of India's digital payments market

The companies are part of four consortia preparing to apply for licenses to operate retail payments and settlement systems in the country

Several big businesses are in fray for setting up NUE. What is it?

Reliance Industries, the Tata Group and digital payments major Paytm are reportedly in fray for setting up New Umbrella Entity (NUE) for retail payments

UPI registers 2.29 billion transactions worth Rs 4.25 trillion in Feb

This is up 73% by volume and 90% by value YoY; FASTag touches all-time high by both volume and value

Paytm crosses 1.2 bn monthly transactions, maintains leadership position

Financial services firm sees 15% month-on-month growth in offline merchant payments

RBI issues master direction to ensure security of digital payments

The Reserve Bank on Thursday came out with a Master Direction for banks and card-issuing entities laying down common minimum standards to ensure security of digital payments.

BS Technology Round Table: Covid-19 pandemic sends digital payments soaring

At the Business Standard Unlock BFSI 2.0, leading minds of the payments industry and fintech players discuss the opportunities and challenges thrown up by Covid

Tyler to buy NIC for $2.3 billion as Covid-19 speeds online payment shift

Under the terms of the deal, NIC shareholders will get $34 per share in cash, a premium of about 14% to its last closing price

Razorpay posts 3-fold growth in payment volume, eyes 5 mn new businesses

Razorpay plans to invest heavily in strengthening the security and fraud analytics infrastructure

PayPal says US consumer watchdog investigating payment app Venmo

The demand from the US Consumer Financial Protection Bureau was made last month, the digital payment processor said in a regulatory filing

PhonePe distributes ESOPs worth Rs 1,500 crore among all employees

The digital payments firm has rolled out the compensation to all its employees ranging from software engineers, product managers to customer experience and on-ground sales agents

UPI Jan volume up 77% to 2.3 bn year-on-year, value doubles to Rs 4.3 trn

Deals up 3% by both, value and volume, over December 2020 figures

Airtel Safe Pay provides three-layer safety for a fraud-proof future

With Airtel Safe Pay transactions, money gets debited only after subscriber's nod

Pine Labs launches AllTap app to turn phone into payment acceptance device

With AllTap, small merchants who aren't ready to invest in a traditional point-of-sale terminal can immediately start accepting digital payments on their NFC-enabled smartphone

Migration from cash-based economy to digital is a work in progress: RBI

Still a long road ahead, especially across Tier III-VI) and societal cross-sections (senior citizens, migrant workers), apex bank in booklet on Payment Systems