Page 3 - Payment Systems

Reserve Bank of India's FI-Index shows better access to financial services

The RBI had announced the introduction of such an index in its bi-monthly monetary policy statement on April 7

NUE may make India the cradle of cutting-edge global payment systems

The NUE will be a direct competitor to NPCI and develop the payments infrastructure for the country, similar to what NPCI has done

Tech giants' growth in digital financial services poses stability risk: RBI

India has seen massive interest from deep pocketed global technology players in recent years as Amazon.com Inc., Alphabet, others.

Statsguru: Seven charts explain India's tryst with cryptocurrencies

Bitcoin, which commands more than $50,000 on any exchange today, was founded anonymously in 2009

Payment system operators can't issue new proprietary QR codes, says RBI

RBI also frames guidelines for self-regulatory organisation for payment system operators

Fintech RapiPay plans to deploy 500,000 micro ATMs in next two years

Capital India Finance's fintech subsidiary RapiPay on Tuesday said it aims to deploy 5 lakh micro ATMs over the next two years in the country. RapiPay, which uses a franchised retail network to provide banking business correspondents (BCs) services, has recently launched micro ATMs (mATMs) across the country. The company said it believes that for ATM cash withdrawals, Micro ATMs are a game-changer for Indian consumers, especially the marginalised population located in tier I, II towns and rural India. "We have been able to install over 25,000 devices within a month of its launch. RapiPay Micro ATMs are revolutionary in comparison to the conventional ATMs and offers utmost ease to the consumers enabling them to withdraw cash and do other similar banking activities at any RapiPay Saathi store without having to travel kilometres in search of an ATM," RapiPay MD & CEO Yogendra Kashyap said. Availability of Micro ATMs, AePS (Aadhaar Enabled Payment System) and other services such as ...

Contactless cards may come in handy amid Covid-19, but there is risk

However, one has to be cautious, as electronic pickpocketing is catching up

Meet the techies who are building a one-stop finance shop for millennials

Their integrated financial services EpiFi platform aims to have all products on a single dashboard including savings accounts, investment opportunities, lending, fund transfer and insurance

Now, you can use RBI's prepaid card for small-ticket retail purchases

When it comes to safety, this card will be on a par or perhaps even better

BRICS nations for common payment system to reduce dollar dependence: Russia

Dmitriev said the five BRICS nations had also discussed creating a common cryptocurrency for mutual payments as the grouping was reducing the share of payments in the U.S. dollar.

Want to keep more than one credit card? Tips you should not ignore

How many credit cards you have and how you use them could impact your credit score, it's essential to make the right choice

Over 80 payments apps face an uphill battle to turn the country cashless

Many merchants, especially in rural areas, remain unable or unwilling to accept digital transactions due to network connectivity issues and reluctance to pay charges for low-value transactions

3 retail payment systems get on-tap authorization to encourage competition

According to the RBI, the move is aimed at diversification of risk and encourages innovation and competition

Too many payment systems: RBI deputy governor B P Kanungo

The market and users should encourage some consolidation in this regard -exit routes for some of these payment service providers and products should be 'actively pursued', he suggested