Page 2 - Payment

Changes in rules from August 1: LPG cylinder price, BoB payment scheme

August will be full of shocks and surprises as there will be some changes in rules, banks closed for 18 days, a change in the Bank of Baroda cheque payment system and the introduction of PPS

Our cost of funds is the lowest in the industry: Mintifi CEO Anup Agarwal

In a Q&A, Minitifi's co-founder and CEO Anup Agarwal talks about how it has enabled distributors and retailers to increase sales

RBI clears payment aggregator licence for Razorpay, PineLabs & Stripe

Payment aggregators enable e-commerce sites and merchants to accept payment instruments from customers without the need for merchants to create their own payment integration system

Airtel opts to defer payment of Rs 3,000-cr AGR dues up to FY19 by 4 years

Telecom companies were offered a four-year moratorium on their AGR dues spectrum dues up to FY17, in line with a Supreme Court order

Visa creates 100 mn card-on-file tokens following RBI norms last week

The landmark has been achieved in line with RBI's guidelines focusing on security and enhanced checkout experience, said Visa

HC quashes order on taxing Flipkart payment to Walmart for deputed staff

Court says assessing officer's stand on employer-employee relationship based on a wrong premise

RBI's credit line norms: Card-based fintech players may have to stop offers

Some of the players expected to take a hit due to the RBI's diktat are Slice, Uni Cards, Jupiter, EarlySalary, etc

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.

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

Over 11.8 mn payment devices deployed across country till April : RBI data

More than 4.11 lakh PoS, mobile PoS and other physical devices were deployed across the country under the Payments Infrastructure Development Fund (PIDF) scheme as on April 30, 2022, the RBI said

UPI most preferred payment mode among consumers with 56% share: study

That said, cards are still dominating the merchant acceptance payments ecosystem, with 26% market share by volume, 53% by value

'Return of advance to foreign buyer after 12 months requires RBI nod'

Therefore, please send a suitable request to RBI, through your bank, explaining the reasons for the failure to export and the delay in sending back the advance within one year.

'Buy now pay later' in lifestyle purchases showing non-payments: Report

Micro businesses in states like Bihar, Rajasthan and Madhya Pradesh have the highest non-performing assets, while the UT of Jammu and Kashmir is the best performer, the report by OkCredit said

Pay revision: Hundreds of Andhra Pradesh employees take to streets

Hundreds of employees and teachers marched on streets across Andhra Pradesh on Tuesday demanding that the orders on pay revision be withdrawn forthwith

Cabinet okays disbursement of additional compound interest waiver claims

238 million borrowers got waiver of interest-on-interest on loans up to Rs 2 crore

Bounce rates in December fall to their lowest since Covid-19 pandemic

December data indicates a good third quarter for banks on asset quality front

Ola to show drop location, payment mode to drivers before they accept ride

'Enabling drivers is key to reducing cancelations,' tweeted Ola co-founder and CEO Bhavish Aggarwal

FSS launches UPI e-voucher to advance financial inclusion

The UPI e-voucher enables customers to transfer funds for a specific purpose in real-time to any mobile number, regardless of whether the beneficiary has a bank account

Auto debit bounce rates drop further in October to touch pre-Covid levels

NACH data shows that of 86.6 mn transactions in October, 27 mn or 31.24% failed while 59.52 mn went through; In value terms, 24.83% of the transactions declined in October, lowest since Jan 2020