Page 3 - Payments

Super apps, super challenges: Who and what's in play to hook customers

No super app in Asia has entered the health sector in a big way. In India, the Tata 1mg health care tie-up has broken into the space

Persistent Systems makes strategic acquisitions, announces payments unit

SCI will help enhance Persistent's capabilities and will serve as the foundation of a dedicated Payments business unit.

New recurring payment norms from Oct 1: Banks, card issuers in a tizzy

Customers are being notified about changes, and alternative methods of payments

Evergrande bondholders don't expect coupon payment on Thursday: Report

Evergrande is due to pay $83.5 million in interest on a $2 billion offshore bond on Thursday and also has a $47.5 million dollar-bond interest payment next week.

US trade official called India's Mastercard ban 'draconian' - emails

The Reserve Bank of India accuses it of breaking local data-storage rules

We're looking to onboard 20-25 mn wallets by March 2023: Bajaj Finance MD

In an analyst call held by Morgan Stanley, Rajeev Jain says his firm is on course to apply for various licenses that are needed to be a full-service payments player

India and Singapore sign pact for instant flow of retail payments

RBI, MAS ink pact to link UPI and PayNow; may operationalise by July 2022

Axis Bank ties up with BharatPe to expand its merchant acquiring business

With 600,000 terminals, the bank is the third-largest PoS acquiring bank in the payments space

UPI forms 10% of overall retail payments in FY21, says Macquarie report

UPI saw its FY21 annual throughput value at Rs 41 trillion, almost 2.8x that of credit and debit card at Point of Sale combined, and almost 20x that of prepaid payment instruments.

NPCI appoints Noopur Chaturvedi as CEO of Bharat Bill Pay Ltd

Prior to joining NPCI, Chaturvedi was country head at PayU and chief-corporate business alliances at Airtel Payments Bank

Four sugar firms on UP govt's radar for not clearing cane dues to farmers

Recovery certificates to the groups, strict action against them on the cards

Walmart's PhonePe crosses 300 mn registered users, merchant network grows

The service now has over 20 million offline merchants across 11,000 towns and talukas in India

Behavioural science can help in reparations for slavery, colonial abuses

Germany agrees to pay more than €1.1 billion to Nambia for reparations for slavery and colonial abuses.

NPCI onboards Turkish firm PayCore to develop softPoS solutions for RuPay

The idea behind SoftPoS is merchants can use their NFC-enabled smartphones as point of sale (PoS) machines to accept contactless payments

Automatic recurring payment to comply with RBI direction from April 1

As part of risk mitigation measure, RBI announced this step to bolster safety and security of card transactions

Corporate affairs ministry facilitates tracking down of payments to MSMEs

From the next month, companies are required to disclose trade payables according to their ageing - less than one year, 1-2 years, 2-3 years, and more than three years - in their financial statements

Gujarat HC serves notice on Centre over interest on delayed payments

Earlier, the GST Council had decided that interest up to 18 per cent would be levied only on delayed payment through cash ledger and not via input tax credit

Card networks to make recurring payments to PIDF, support initial corpus

RBI's payment infrastructure development fund to be valid for three years, effective January 1, can be extended by two more years

Khatabook rolls out app for micro-entrepreneurs to manage staff, payments

Khatabook is looking at leveraging its user-base to push the new app as it targets 1 million users over the next two months.

NPCI diversifies its ownership with share allotment to 19 new entities

Completes private placement of 4.63 per cent equity shares worth Rs 82 cr; number of shareholders rises to 67