Page 2 - Digital Transactions

Digital transaction volume grew at 50% in four years, shows data

Around 368,000 candidates have signed up for The FutureSkills PRIME ecosystem that aims to reskill or upskill 412,000 professionals

Insufficient balance, wrong PIN top reasons for failed digital transactions

Only 1.7 per cent of transactions are declined due to technical reasons such as connectivity issues.

Average value of UPI, RuPay transactions below Rs 2000, marking stagnancy

Digital transactions have increased many times, but their average ticket size is not growing for the domestic payments card.

Govt announces scheme for digital transactions using UPI, RuPay debit cards

Financial outlay for one year is Rs1,300 cr

RBI enforces 20-digit LEI for cross-border deals above Rs 50 crore

The Legal Entity Identifier (LEI) number is used to uniquely identify parties to financial deals worldwide to improve quality and accuracy of financial data systems

Digital transactions up 52% in festival season, says report

PayU registered a record high of 8 million transactions on a single day on October 3

Pity Indian policymakers who don't know which data to go by for economy

Designing policies meant for a smaller economy that is actually larger is sure to have unintended side effects.

Buy now, pay later set to surge over ten-fold in India within four years

Redseer estimates India's BNPL market will rocket to $45-50 billion by 2026 from $3-3.5 billion now

New recurring payment norms: 20 days later, people still face disruptions

Many banks, merchants not fully compliant yet despite extension of deadline

NPCI looks at $1 trillion worth of transactions through UPI on annual basis

The National Payments Corporation of India (NPCI) is looking at $1 trillion worth of transactions through UPI on an annual basis, as digital payments are progressing in the country

Data privacy, safeguarding client details important: FM Sitharaman

Sitharaman added that safeguard of client data is the backbone to bringing trust

Indians embrace digital: Over 300 mn smartphone users use digital payments

From 'tankhwa' and 'kiraya', for 'shagun' and 'jugaad', digital payment is a pan-India habit

Processing about 1.5 bn transactions a month: PhonePe CEO Sameer Nigam

Nigam said that the fintech firm is aiming to reach 900 million people in the next 8-10 years

Processing about $1.5 billion transactions a month, says PhonePe

Fintech major PhonePe on Thursday said it is processing almost $1.5 billion transactions a month, and about 80 per cent of its users are from tier-II cities and beyond

Auto-debit bounces dip in July as financial stress eases for borrowers

According to the NACH data, of the 86.4-million transactions initiated in July, 33.23 per cent, or 28.7 million transactions, failed, while 57.7 million were successful.

Square deal vaults Afterpay founders to nearly $1.8 billion fortunes

After the deal is completed, Molnar and Eisen will help lead Afterpay's merchant and consumer businesses as part of Square's Seller and Cash App divisions

Paytm's gross merchant volume growing at over 100% in a year: DRHP

In Q1FY22, Paytm's GMV hit Rs 1,46,900 crore, from Rs 69,700 crore in the same period last year

How the Mastercard incident highlights need for regulating digital trade

The Indian central bank pulled the plug on the US payments network for alleged noncompliance with its controversial local data storage rules introduced three years ago

BharatPe aims $6 bn in annualised transaction processed value from POS biz

BharatPe on Thursday said it is planning to scale up its POS business by three times and has set a target of $6 bn in annualised transaction processed value by the end of 2021-22.

UPI logs phenomenal growth, other nations keen to learn from India: Panda

Several countries have shown interest to learn from Indian experience so that they could replicate the model: Financial Services Secretary Debasish Panda