Page 17 - Digital Payments

Razorpay starts lending service for small businesses hit by Covid-19

The firm has launched a collateral-free line of credit, 'Cash Advance' for small businesses who can borrow working capital with a credit limit of Rs 50,000 to Rs 10 lakh, within 10 seconds

Need to enable payment solutions for feature phone users: RBI official

Covid-19 pandemic has inadvertently provided enormous impetus to digital payment adoption

UPI volumes at new high; digital transactions almost at pre-Covid levels

In August, UPI volumes touched 1.61 billion transactions worth Rs 2.98 trillion, compared to 1.49 billion transactions in July worth Rs 2.9 trillion

Covid-19-led digital adoption leading to rise in cyber frauds: Report

UPI transactions crossed 1.49 billion in volume and $41 billion in transaction value in July

Digital payments in India likely to grow threefold by 2025, says report

According to a report by Redseer Consulting, Rs 7,092 trillion worth of transactions are expected to be conducted by 2025, a CAGR of 27 per cent

PhonePe gears up for IPO by 2023, eyes a valuation of $7-10 billion

The company's foray into financial services is going to play a key role in the firm becoming profitable and going public

Digital payments in India likely to grow to Rs 7,092 trn by 2025: Report

By 2025, wallets are expected to have a higher penetration and lower-income would eventually drive multiple small-ticket transactions

National Payments Corp to take UPI, Rupay global through new subsidiary

It wants to take its products UPI and RuPay Card global and assist other countries in establishing a 'real time payment system' or a 'domestic card scheme'

CCI rejects petition alleging WhatsApp using clout to enter payment space

The National Payments Corporation of India (NPCI) had granted permission to WhatsApp in February to operate its payment service to 10 million users in India in the first phase

Covid-19 and the 'techtonic' shift in India Inc's journey towards digital

The pandemic has changed the way businesses across the spectrum look at technology adoption--it no longer fascinates simply because it has become a necessity

Retail payments register 28% jump in June; digital mode sees 23% rise

Total digital payments in the economy recovered to Rs 113.4 trillion in June, compared to Rs 92.03 trillion in May, up 23 per cent

RBI allows offline payments of up to Rs 200 through cards on pilot basis

The scheme is aimed at encouraging customers to opt for digital payments even in those places where the internet connectivity is poor

RBI to set up 'Innovation Hub' for financial inclusion, efficient banking

The Hub will act as a centre for ideation and incubation of new capabilities

Digital payments see good growth in Jul; UPI transactions up 11% to 1.49 bn

While there was a blip in the transactions in April due to the nation-wide lockdown, digital payment transactions soon recovered as the nation opened up

Govt document reveals cybersecurity lapses at NPCI in 2019: Report

The govt audit highlights a lack of encryption of personal data at the National Payments Corporation of India (NPCI) which forms the backbone of the country's digital payments system

Weaker fintechs face crisis to mature as Covid-19 casts shadow over funding

Signs of stress among even relatively well established fintechs are starting to emerge, say analysts

PM Modi reviews implementation of micro-credit scheme for street vendors

The PM expressed satisfaction on the use of end-to-end IT solution through a web-portal and mobile application for administration of the scheme to ensure transparency, accountability, speed

India to contribute 2.2% of world's digital payment market by 2023: Report

The Covid-19 pandemic is expected to further amplify the reach of digital payments with people terrified of using cash

Amazon India steps up insurance and credit biz, riding on its payments app

Amazon Pay has started making deep inroads in India's booming digital payments market and is competing aggressively with PhonePe, Paytm and Google Pay

Govt's Zero MDR move has hit payments industry badly, says RBI committee

Panel believes move will discourage innovation, has already led to contraction in national gross value of services