Page 4 - Digital Transactions

How to make marketplace lending safe

RBI needs to handle fintechs with care, so that innovation, necessary for inclusion and cost-effective, fast transactions, is not stymied

Best of BS Opinion: Digital payments and the pandemic, AGR dues, and more

Here's a selection of Business Standard opinion pieces for the day

Banker as Covid warrior

After demonetisation, Covid-19 is giving a big push to digital banking

Lockdown impact: Digital transactions nosedive in April, shows NPCI data

The value of IMPS (Immediate Payment Service) transactions in April fell to about Rs 1.21 trillion in April, from about Rs 2.02 trillion in March

Allow digital onboarding of customers for NBFCs, others: Industry body

The non banking entities are capable of doing minimum know your customer (KYC) for merchant transactions successfully without face- to- face physical interaction with the customer only

Paytm looks to focus on merchant base to drive next phase of growth

An area which is a big focus for serving merchants is IoT-enabled devices such as Sound Box

Bengaluru, Delhi, Hyderabad lead e-merchant payments in 2019: Razorpay

Owing to the growth of UPI, share of wallets continue to decline despite the increase in the number of transactions, the report said.

MDR waiver: RBI may pay Rs 1,800 cr to banks to fund free transactions

Finance Minister Nirmala Sitharaman last month said no Merchant Discount Rate (MDR) charges will be applicable on transactions through homegrown RuPay and UPI platforms

Mastercard, Federal Bank join hands to make digital transactions safer

Mastercard has entered into a partnership with Federal Bank to offer identity check to the bank's cardholders, it said in an announcement

No issue with India's data localisation, but will protect US firms: Mnuchin

US Treasury Secretary Steven Mnuchin also insisted that America has no problem if countries want to have local data for regulatory purposes as long as they do not eliminate it outside the country

RBI proposes new prepaid card for digital transactions of up to Rs 10,000

PPIs have been playing an important role in promoting digital payments and bringing in the new PPI will further facilitate its usage, as per an RBI statement

Over 21 billion digital transactions carried out in FY20 till Nov 13: Govt

Prasad noted that in 2018-19, 3,134 crore digital transactions were recorded, translating into y-o-y increase of 51%

In a first, Mastercard enables one-time password-less transactions

A new mobile-first authentication solution rolled out by the payments major allows such transactions only for deals below Rs 2,000

Digital transaction volumes up 51% in 2018-19 to Rs 3,133.5 crore: Govt

Transaction volumes in the first month of the current financial year alone stood at about 313 crore, says Ravi Shankar Prasad.

Digital transactions to grow as cash usage attracts more compliance

Digital transactions to become cheaper and more merchants to accept electronic payments

India lags on per capita digital transactions, but is on the track

The Nandan Nilekani report on Deepening of Digital Payments says this metric can grow by a factor of 10 in three years

RuPay, UPI poised to pip global competitors in retail transactions

Analysis shows value of UPI, RuPay retail transactions constitute 65% of debit, credit card transactions

Fintech brands lose billions as consumers drop out of transactions: Report

Financial brands are losing consumers by not fixing the friction points in their digital purchase journeys

PNB ranked as top PSU bank in online transactions in India: FinMin report

The bank is rated as 'Good' by the government with a score of 71 which is the highest category of performance

India's digital lending market represents a $1 trillion opportunity

Fintechs, banks and even large Internet companies are working frantically to solve problems that stand in the way of disbursing credit quickly, safely and more efficiently