Page 3 - Npci

Walmart-backed PhonePe asks NPCI to extend the volume cap deadline

With this move, NPCI was aiming to reduce the concentration risk in the system and potentially curb the dominance of two large players while ensuring other players also get a chance to grow

Large corporates request RBI for customers' UPI data, says Dy Guv Sankar

Large corporates, including fintech, have requested the RBI on how they could access the data from UPI

Players ready for migration as card-on-file tokenisation deadline nears

Tokenisation is the replacement of an actual or clear card number with an alternative code called the "token"

PhonePe tokenises 14 mn cards ahead of RBI's deadline of Sept 30

PhonePe said it is working with three major card networks, Visa, Mastercard, and RuPay, to meet the regulator's tokenisation deadline of September 30.

Banks in talks with Singapore's DBS to begin real-time remittance system

At least five Indian banks, including the State Bank of India and ICICI Bank, are in discussions with Singapore's DBS Bank to start a real-time remittance system using UPI as the backbone

NRIs can make bill payments for family members via BBPS soon: CEO

'I feel UPMS will change the way BBPS operates today', said Noopur Chaturvedi

Stop charging platform fee on BBPS payments: NPCI directs payment apps

NPCI's directive comes days after a discussion paper was released by the Reserve Bank of India (RBI) related to such charges

Statsguru: Six charts explain the rise of UPI transaction volumes

Smaller transactions dominate the system. Nearly seven out of every 10 transactions initiated via UPI are for less than Rs 500

India leads the world in real-time digital payments, says PM Modi

Success shows 'innovation prowess' of indigenous payment structure and fintech companies, he says

EnKash: Powering India's SMEs and start-ups with a suite of corporate cards

The firm currently has a user base of 100,000 enterprises and processes transactions worth about Rs 28,000 cr a year

BBPS inward payments to deepen cross-border payment ecosystem in India

Bharat Bill Payment System (BBPS), under the aegis of the RBI, allows recurring utility bill payments through an integrated platform

UPI records 6 billion transactions in July, highest ever since 2016

UPI crossed 1 billion transactions for the first time in October 2019, almost three years after its launch

Explained: How 2% MDR on RuPay-UPI may affect credit card industry

According to analysts, SBI Card and Paytm stand to gain the most if RBI agrees to levy 2% merchant discount rate (MDR) on RuPay-based credit cards linked to UPI

Mastercard enables 200,000 merchants for card-on-file tokenisation

Mastercard said it worked with 45,000 merchants, 34 issuing banks, 10 acquiring banks, and 30-plus token requestors (including all major payment aggregators) to create 90 million tokens

Merchant discount rate on UPI-RuPay credit cards likely to be 2%

NPCI set to seek RBI nod for scheme; free swipes at smaller outlets

RuPay credit card-UPI linkage to be operational in 2 months, says NPCI CEO

NPCI will come up with the guidelines in consultation with the ecosystem. It will send a formal proposal to the RBI, and after the apex bank's nod, it will be operationalised.

Alternative to SWIFT: NPCI plans to take the UPI system to 32 million NRIs

Indians overseas remitted $87 billion last year, the biggest inflow for any country tracked by the World Bank

UPI transactions remain above Rs 10 trillion in June, shows NPCI data

However, it was down by nearly 3 per cent from the previous month

Over 4.5-million IPO mandates created via UPI in May, shows data

In May, 4.5 million IPO mandates were created through UPI and a record 2.4 million mandates got executed, data shows

UPI processed nearly 6 billion transactions worth Rs 10 trillion in May

NPCI sets its eyes on processing a billion UPI transactions a day on its platform within the next 3-5 years