Page 2 - Payment Systems

India's payment systems improve standing in global benchmarking exercise

The number of indicators describing the country as "weak" declined to eight from 12 in 2019

RBI warns of risks from cross-border outsourcing of IT services

The RBI's observations come at a time when it is considering a mandate for domestic processing of payment transactions in order to ring-fence India's local payment systems.

Decoded: The tizzy over RBI's ban on loading PPIs from credit lines

PPIs are instruments that facilitate the purchase of goods and services, conduct of financial services, enable remittance facilities, etc., against the value stored in them

Amid geo-political risks, RBI mulls domestic processing of transactions

In its Payments Vision Document released last week, the RBI said keeping in view the emerging geo-political risks, options would be explored to ring-fence domestic payment systems

HDFC Bank to shift payments from core banking, ensure minimal downtime

This would pave way for minimal payments downtime

RBI aims to make India a powerhouse of payments globally by 2025: Experts

The RBI came out with its 'Payments Vision 2025' document which also talks about ring-fencing of domestic payment systems, including the need to mandate domestic processing of payment transactions

MobiKwik announces launch of 'AutoBill Pay' feature for its 25 mn ZIP users

This feature is designed to help ZIP users pay multiple bills such as electricity, water, gas, mobile, DTH, etc. automatically every month using the BNPL credit line

Mastercard's 'smile to pay' raises concerns around face recognition systems

The company argues touch-less technology will help speed up transaction times, shorten lines in shops, heighten security and improve hygiene in businesses

Pine Labs makes majority investment in payment solution provider Mosambee

The leadership team at Mosambee will continue to operate independently.

RBI directs banks and non-banks to geotag payment touch points

Geo-tagging refers to capturing the geographical coordinates (latitude and longitude) of payment touch points deployed by merchants to receive payments from their customers

RBI releases framework for geo-tagging of payment system touch points

Geo-tagging refers to capturing the geographical coordinates (latitude and longitude) of payment touch points deployed by merchants to receive payments from their customers

Google to begin testing 3rd party billing systems with Spotify

The programme will allow a small number of participating developers to offer an additional billing option next to Google Play's billing system

Banks, fintech firms need to collaborate to reach the unserved population

There is a clear need for both banks and bankers, say experts

What is RTGS funds transfer system?

Real Time Gross Settlement or RTGS system has cut short the risk to high-value payment settlements among financial institutions. It is used by central banks worldwide. Find out more about the system

What is the SWIFT payment system?

Following Russia's attack on Ukraine, the EU and the US announced measures to block selected Russian banks from the SWIFT payments system. What is SWIFT? Watch this report to know more about it

Facebook Messenger rolls out 'Split Payments' feature in US

Meta-owned Facebook Messenger is also introducing voice message recording controls and a mode for sending disappearing messages

Payment service provider PayU's SMB vertical sees 70% jump in revenues

In September last year, PayU agreed to acquire payments gateway BillDesk in an all-cash transaction of $4.7 billion

Reserve Bank may rationalise some payment charges, says industry

Others say central bank may relook zero merchant discount rate on RuPay, UPI

UPI registers record 4.21 bn transactions worth Rs 7.71 trn in October

IMPS & FASTag also see record transactions in October

RBI fines five payment system cos for breach of escrow, KYC and other norms

While Transaction Analysts (India) takes Rs 3 cr hit, four white label ATM operators suffer Rs 1-2 cr penalties