Online Transaction

PoS terminals and the future of digital payments

The offline unorganised segment will drive merchant payment digitisation with QR codes and sound boxes - devices with speakers that display alerts for merchants when transactions are processed

Govt expects 5-7 countries to sign up for India's tech stack by March

The government expects five to seven countries to sign up for adopting India-developed technology platforms like UPI and Aadhaar by March for accelerating digitisation, according to Union minister Rajeev Chandrasekhar. While speaking at India Stack Developer Conference, the minister said that the Prime Minister has decided to offer India technology platforms to countries to help them accelerate digitisation. "I expect by February-March, about 5-7 countries around the world to sign up (for adopting platforms)," Chandrasekhar said. The government plans to reach out to several countries to offer them technology stack (Aadhaar, UPI, Digi Locker, Co-Win, GeM, GSTN etc) as part of its responsibility as G20 Presidency and expects Indian startups and system integrators to gain from the exercise.

Nearly 80% reserved Railway tickets are sold online: Ashwini Vaishnaw

Minister of Railways, Communications and Electronic & Information Technology, Ashwini Vaishnaw in a written reply to a question in Lok Sabha said that about 80 per cent of railway reserved tickets are booked online.Vaishnaw said, "mobile application on various platforms is also available for booking reserved and unreserved tickets as well as provision of other railway services."The digitalisation of railway services and databases is an ongoing process."The information technology applications of Indian railways cater to transportation services (passenger and freight), fixed infrastructure (project, operations and maintenance), rolling stock (manufacture, operations and maintenance) and resource management (finance, materials and human resources)," he further added.Vaishnaw said that the digital initiatives and on-ground services are seamlessly integrated through well-documented instructions and manuals.

India has 350 mn digital payment users, count set to double by 2030: Report

India currently has around 350 million online transacting users across e-commerce, shopping, travel and hospitality, and OTT and the number is set to double by 2030, a new report showed on Wednesday

UPI transactions see 650% rise at semi-urban, rural stores: Report

The unified payments interface (UPI) transactions witnessed a meteoric 650 per cent rise at the semi-urban and rural stores in India this year, a report showed on Tuesday

A step-to-step guide to transferring Amazon Pay balance to bank account

Note, however, that you can only do this if you have completed your KYC

UPI processes over 7 bn transactions in Oct, record high since inception

Transactions on UPI amounted to Rs 12 trillion in October, a record high for the platform

Everything you want to know about tokenisation

For consumers, nothing has changed as token is just replacing the card details. Merchants do not have card details anymore and hence, if their sites are hacked, at best the hacker gets only the token

India saw 20.5 billion online transactions worth Rs 36 trillion in Q2FY22

India saw 20.57 billion online transactions worth Rs 36.08 trillion in the second quarter (Q2) this year, a report showed on Tuesday

Card-on-file tokenisation kicks in from Oct 1: Here's all you need to know

A tokenised card transaction is considered safer as the actual details of the card will not be shared with the merchant during transaction processing

Probe into Chinese loan apps: ED freezes Rs 46 cr kept in payment gateways

Easebuzz, Razorpay, Cashfree and Paytm impacted

Consumers dislike convenience fees for digital payment of services: Survey

People prefer making transactions online but regard service charges as unjustified and costly

Internet usage grows faster in rural India; knowhow still a deterrent

346 million make online transactions for e-commerce and digital payments, with coronavirus boosting practice

BharatPe co-founder & MD Ashneer Grover not granted reliefs by SIAC

Grover had filed an arbitration plea to stop a probe into alleged financial mismanagement in the company, and had also sought indemnity

RBI's rules on online transactions mean for consumers and merchants

To make online transactions secure, the RBI has asked merchants & payment gateways to remove customer data on cards saved with them and use encrypted tokens. Here's how it will impact digital commerce

TMS Ep69: RBI tokenisation, Abhijit Bhave, unicorn boom, net-zero

What's RBI rule on online transactions mean for consumers and merchants? When will FPIs turn to India again? What explains India's unicorn boom in 2021? How can the world achieve net-zero targets?

Razorpay Launches 'TokenHQ' to help businesses comply with RBI guidelines

Almost the entire base of 5 million businesses using Razorpay's services will be ready to support tokenised card transactions.

Explained: What tokenisation means and how it will affect card users

Transactions will be smooth after one-time tokenisation

Only card firms, banks to keep card details, others must purge data: RBI

Tokenisation is used in online transactions where the actual card details keyed in are replaced by random digits

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