Page 22 - Digital Payments

Finding solutions to digital payment problems

In case of incorrect transactions, banks and mobile wallets give some assistance. Things get tougher when there is a payment failure

Digital payment fast replacing cash as predominant way: Jaitley

He said that technology has changed the entire dynamics the way the banking is done in the country

Modi govt's card payment push may cause annual loss of Rs 3,800 cr to banks

After note ban, govt pushed banks into deploying millions of points-of-sale machines to encourage online payments

Post-demonetisation digital payments up, debit card use declines: Report

NEFT volumes have grown upwards of 30% with a further around 10% improvement in per-transaction size

Pay via debit card: Govt wants RBI to cap MDR on digital payments at Rs 200

Has your grocer asked you to pay extra because you wanted to pay using a card?

Digital payments bound to pick up with new technology like Tez: Jaitley

He said high denomination currency circulation has come down in terms of volume after demonetisation

You can pay power bills through BharatQR in Andhra: How it works

BS ReporterHyderabad, 22 August:The two state-owned power distribution companies in Andhra Pradesh have started accepting payments through BharatQR, the first interoperable quick response code acceptance solution launched by the Reserve Bank of India(RBI). Bharat QR is a secure, network-agnostic interface that enables customers to use their smartphones to make payments without divulging information like card numbers and CVV.Global payment technology company Visa and Andhra Pradesh government collaborated to enable this digital payment initiative for the customers of the Eastern Power Distribution Company of AP Limited(EPDCL) and the Southern Power Distribution Company of AP Limited(SPDCL).Stating that the move was aimed at making Vizag city as the first less-cash city in the country, AP IT minister Nara Lokesh informed that the government was exploring the possibility of abolishing surcharge levied on digital payments." Digitisation of transactions will ultimately lead to a reduction .

IIT professors apprise par panel of cyber threats on digital payments

The IIT faculty made presentation on cyber risks associated with digital payments

Govt to soon release digital payment fee policy: Niti Aayog official

Govt will release a policy on the fee being charged for different modes of digital payments

Life insurance companies see high growth in non-cash premium payment

People in rural areas, small towns are swtiching to cashless modes of payment, says industry

Note ban fuels digital payments

Much to the surprise of critics, sectors such as petroleum saw twofold jump in digital transactions

Govt offices in Odisha to switch to digital payments

Government offices in Odisha are preparing for a shift to digital payments. The state government has kicked off the process for procurement and installation of Point of Sale (PoS) devices like mobile PoS and Aadhaar based payments. Apart from government offices, state controlled PSUs and societies would also be enabled for receiving digital payments. The switch to the digital payment mode is expected to be fully ready by the end of this financial year.Tuhin K Pandey, principal secretary (finance), Odisha has urged all government departments and district collectors to issue necessary instructions to agencies under their control to install PoS devices for facilitating digital payments. The finance department has formulated a set of guidelines to enable government departments for installation of PoS devices.The heads of the state government agencies are required to assess the requirement of PoS devices in their counters and make an indent with any of the two banks authorized to handle ..

Central Bank of India customer wins Rs 1 cr under Modi's cashless scheme

6 winners under the two promotion schemes were given their prizes by President Pranab Mukherjee

Digital payments: Central Bank of India customer wins Rs 1 cr

President congratulated the six winners of Lucky Grahak Yojana and Digi Dhan Vyapar Yojana

Ambiguity persists on petro digital payment discounts

The three government-owned oil marketing companies (OMC)s were unclear on what was to happen after the Friday midnight deadline for the discounts they were offering on digital payments at retail motor fuel stations."We are yet to receive a communication from the (petroleum) ministry (on this). We cannot decide without a directive," said a top marketing official from of the three. To promote digital payments after last November's currency demonetisation, Bharat Petroleum Corporation, Hindustan Petroleum Corporation and Indian Oil Corporation were directed to offer 0.75 per cent discounts as cash-back for such payments at fuel pumps. These were to be offered till end-March.However, they've also have informed pump dealers that they will not be debited by banks for these discounts beyond Friday. "The OMCs sent a letter to dealers three to four days before that this would not happen, as banks are now able to directly deal with the OMC. The required software is being put in place," said ...

Govt partners with Google to boost security in digital payments

The Ministry of Electronics and Information Technology (MeitY) and Google India have come together to boost the security of India's fast growing digital payments ecosystem at a time when data breaches and fraudulent transactions are becoming more commonplace in the country.The partnership will support the formation of a 'Digital Payments Security Alliance' in collaboration with the Data Security Council of India (DSCI) that will include stakeholders such as banks, FinTech companies and the government. It will look to create awareness of the best security practices for mobile and digital payments in the country."We are delighted to support Honourable PM Modi's vision of creating a 'New india' where technology unleashes a wave of new opportunities. We are committed to and look forward to working with MEITY across these broad range of initiatives and help every Indian to leverage the power of the Internet," said Rajan Anandan, Vice President of Southeast Asia and India at Google.The ...

BharatQR, UPI, BHIM, NUUP: How these digital payment apps, services work

The growth of digital payment services is fueled by introduction of apps and services by the NPCI

Understanding QR code payments: Here's the lowdown on Bharat QR

There is a huge disconnect in India when it comes to digital payments

Over 7 lakh citizens receive Rs 117 cr for making digital payment

Majority of the winners are in the age group of 21-30 years

IT ministry framing guidelines for digital payments

At present, there are no specific guidelines on digital payments to ensure fair play in the segment