Page 2 - Payments

Google-backed Dotpe adds 55,000 merchants across country in past 20 days

Has not only managed triple-digit growth, but its retail merchants have clocked 139% spurt in orders; firm has already onboarded 7.5 million retailers across tier-1, 2 and 3 cities

There is ambiguity over what is called BNPL: Juspay Technologies CEO

'The impact of tokenisation extends to the entire payment ecosystem', said Vimal Kumar

Visa profit beats quarterly estimates on higher travel, online spending

The world's largest payments processor reported transactions rose 21% to $47.6 billion during the quarter compared with a year earlier

IPO-bound India1 Payments aims to deploy 20,000 ATMs in next 4-5 years

It is the second largest ATM brand in the semi-urban and rural areas after State Bank of India (SBI)

Our mobility card may be better than OysterPay: PayCraft's Ambarish Parekh

'We are implementing a mobile-based QR payment in offline mode in one of our upcoming Metro projects', said Parekh

Digital cash can prevent accidents on the $19 trillion FX highway

CLS is good at preventing mishaps in the foreign-exchange market. The trouble is, it handles only 18 major currencies

RBI caps upper limit of offline payment transaction at Rs 200

An offline payment means a transaction not requiring internet or telecommunication (telecom) connectivity to take effect

Insufficient balance, wrong PIN top reasons for failed digital transactions

Only 1.7 per cent of transactions are declined due to technical reasons such as connectivity issues.

Paytm Lending CEO gets additional role to lead offline payments vertical

The fintech company has elevated Bhavesh Gupta, CEO, Paytm Lending to take on leadership for the offline payments vertical in addition to his existing responsibilities

Physical, digital financial services to co-exist in India: SBI chairman

On the emergence of the co-lending model in India, he said it is an essential mechanism which was initially meant for establishing connections with the last mile

Banks want more time to meet card-on-file tokenisation norms

Tokenisation is the process of replacing the debit and credit card numbers with a set of characters or tokens

Trai proposes nil charge on USSD messages for mobile banking, payments

The Unstructured Supplementary Service Data (USSD) messages get displayed on the screen of mobile phones and are not stored like SMSes

UPI AutoPay sees 28.34% rise in recurring mandates, shows data

Records over 4 mn mandate registrations in October, as against 3 mn in September

Banks process nearly 2 mn e-mandates for auto-payment after RBI order

Industry estimates recurring transactions at 2.5% of total volume, and 1.5% in terms of value. Of these, 75% domestic transactions, and 85% international are below Rs 5,000

BharatPe enters BNPL, offers even 'golgappas' on EMI as it bets on offline

Launches new product 'postpe' towards this end, which customers can download from Play Store and avail interest-free credit limit of up to Rs 10 lakh

MobiKwik bullish on core business, buy-now-pay-later launched in May 2019

The firm currently has 22.3 mn pre-approved BNPL users and is handling over 4 mn such transactions a year. It is seeing 14x growth from a year ago

Merchants hit by revision in payment norms form an alliance

Hit by a revision in payment norms by the RBI, online merchants like Netflix, Facebook and Future Generali on Tuesday announced the formation of a grouping to take up common causes. The changes on e-mandates effected by the RBI from October 1 are intended to make the ecosystem more robust but with only six banks complying with the revised norms, the preparedness of the banking sector is questionable and there is bound to be value erosion in the merchant-customer relationships as the latter face inconveniences, as per an official statement from the body. The Merchant Payments Alliance of India (MPAI), which also has other members including Disney+Hotstar, Bookmyshow, Microsoft, Spotify, Times Internet and Zoom, will work towards such causes by addressing and constructively engaging with the payments regulator and industry. "The MPAI sees itself as a collective, using the operational experience of merchants, to engage on policy matters such as the e-mandate issue, which will help redu

Recurring pain

RBI must re-examine its auto-debit restrictions

New RBI norms kick in today, may hit 50% recurring payments

Tt would take at least three months for the entire payments system to start working smoothly, say companies and banks.

WhatsApp adds rupee symbol to chats for faster access to payment capability

Says camera icon in chat composer now lets users scan any QR code to enable paying at over 20 mn stores in India