Page 21 - Digital Payments

Swiping right on digital payments: Nilekani-led panel to revamp the system

Among others, the panel has recommended a reduction in costs for merchants, acquirers and customers and expansion of the acceptance infrastructure

Paper use, acceptance infrastructure need attention, says RBI report

The report said that the relatively high level of cash in circulation offers scope for a higher level of digitisation of payments

Number of ATMs dips, PoS centres see rise in digital payments push

While digital payments are seeing exponential growth, cash shows no signs of slowing

Unauthorised surcharge impeding e-payment system, finds IIT Mumbai study

It is banks themselves who are causing fraudulent surcharging by resorting to outsourcing of their payments' services, the study said

Payments industry recommends KYC bureau to Nilekani-led RBI committee

PCI meets Nandan Nilekani-led committee, asks for smoother access to transaction infrastructure

UPI's value grew 700% in 2018 while total digital payments fell 1%

UPI 2.0 to fast-track growth, as merchant transactions rise

RBI sets up panel under Nandan Nilekani to boost digital payments

The committee will review the state of digitisation of payments in the country, identify gaps and how to bridge these

RBI appoints Nandan Nilekani as head of panel to boost digital payments

The panel has been tasked with reviewing the existing status of digitisation of payments in the country, identifying the current gaps in the ecosystem and suggesting ways to bridge them.

High compliance costs can trip digital payments

I would like to specifically highlight the parts of the Bill, which, if implemented, urgently can drive the digital payments industry to registering three-digit growth

Use Rupay card, BHIM? You may get cashbacks for digital payments under GST

The incentives will be extended to all card-holders at a later date based on the success of this move, said Sushil Modi

Need for relook at payment norms to keep pace with tech changes: Niti Aayog

There has been a rise in digital payments following the demonetisation of higher currency notes in November 2016

Spurring digital payments in India

We need to understand that payments is a commercial activity and hence cannot be treated on par with banking. What is needed is an integrated payments institution to encourage competition

Digital payments: Sebi bars stock brokers from accepting cash from clients

Financial institutions and banks have introduced various modes of electronic payment facility

Govt slashes UPI cashback scheme limit to total of Rs 150 per person

The government has already spent Rs 1 billion in the last three months of the scheme in giving these cashbacks

Payment companies starved of govt subsidy on digital payments

In December 2017, the government issued a gazette notification agreeing to waive off fee from digital transactions up to Rs 2,000

Digital payments: RBI's paper may push for participation of smaller players

The top 10 banks handle 90% of the digital market

Payments Landscape in India: Data-rich players turn digital lenders

Increasing use of digital payments has led to critical data points for financial institutions to leverage it for credit scoring

PM to award bureaucrats for promoting key govt schemes, digital payments

Prime Minister Narendra Modi would award select bureaucrats from across the country for promoting central government's key programmes, including promotion of digital payments, on the occasion of civil services day in April, according to an official statement issued today. A total of 2,010 applications have been received from various officers for Prime Minister's awards for excellence in public administration, it said. The civil services day is celebrated on April 21, every year, where bureaucrats rededicate themselves to public service and awards for excellence in public administration are also conferred. This is preceded by one day event on April 20 where discussions are held on relevant topics of public administration and it is attended by large cross section of civil servants. Four priority programmes -- Pradhan Mantri Fasal Bima Yojana, Promoting Digital Payments, Pradhan Mantri Awas Yojana - Urban & Rural, and Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDUGKY) -- have ...

Global firms to push domestic digital payments to $1 trn over next 5 years

India has already started showing early signs in voracious consumption of data

Digital transactions likely to zoom 18 bn in FY18, says K J Alphons

The scale and value of digital transactions underscored how these new forms of payment had reached the masses, Alphons said