Unified Payment Interface

UPI charges: Here is how interchange fees on wallet payments will work

From April 1, the platforms offering prepaid instruments like wallets and gift cards will have to pay interchange fees on transactions above Rs 2,000

Modi, Singapore PM to witness launch of cross-border payments interface

The launch will be done by RBI Governor Shaktikanta Das and Ravi Menon, managing director of Monetary Authority of Singapore

UPI, Singapore's PayNow integration anytime soon: Official at G20 meet

The Monetary Authority of Singapore on Monday said integration of India's Unified Payment Interface (UPI) and equivalent network in Singapore, known as PayNow, will begin anytime soon, which in turn will reduce the remittance cost by 10 per cent. There will be interoperability of the two digital payment networks, allowing seamless remittances between the two countries at a highly competitive rate. "Integration of UPI and Singapore's PayNow with India is ready and waiting for launch," Singapore central bank's chief fintech officer Sopnendu Mohanty said at the G20 meeting on financial inclusion at Kolkata. "As of now, remittance to India is at least 1 billion Singapore Dollars and India to Singapore will be 200-300 million Singapore Dollars," Mohanty said. Pramod Verma, chief architect of Aadhaar & India Stack said similar interoperability will also happen with Dubai and a few other countries soon. He said this integration will also help Indian tourists pay in Singapore using ...

Union Minister Ashwini Vaishnaw unveils digital innovation alliance for G20

The minister also launched "stay safe online" campaign, with the aim of digitally transforming the global economy in a secure cyber environment

WhatsApp Pay's India head steps down amid series of top-level departures

Vinay Choletti leaving as Meta-owned messaging platform ramps up investments in its payment service in India

GST Council's fitment panel clarifies tax levy on SUVs, UPI transactions

Defers the classification of crypto assets under GST regime

Top headlines: Twitter blue check chaos, G20 Delhi summit, and more

Business Standard brings you the top headlines this hour

This company promises to let feature phone users make UPI transactions

The Mumbai-based fintech company says by using its services, feature phone users can access their bank accounts, transfer funds, and make bill payments by giving a missed call

RuPay credit card UPI to succeed if small transactions under 10%: Asbe

'RuPay credit card UPI to see good traction if small merchant transaction stays within 10%'

UPI Lite: A payment method that allows you to pay without PIN or internet

The upper limit for payments has been set at Rs 200; wallet balance cannot exceed Rs 2,000 at any point

Dilip Asbe reappointed MD & CEO of NPCI for five years at firm's AGM

Asbe took over as MD&CEO of NPCI in Jan 2018. Prior to that, he was the firm's COO for close to 5 years

Regulating Digital India

Discriminatory algorithms will be the most complex of challenges for regulators

TerraPay, NPCI collaborate for merchant payments via UPI-enabled QR codes

/ -- In a strategic move to further strengthen its cross-border payment solutions, TerraPay, a leading global payments infrastructure group today announced its partnership with NPCI International Payments Limited (NIPL), the International arm of National Payments Corporation of India (NPCI). This association with NIPL will allow Indian customers and merchants in India with an active Unified Payments Interface Id (UPI Id) to make and accept cross-border payments seamlessly by leveraging TerraPay's agile infrastructure and the UPI network. In this intended collaboration, both companies will work together to further empower Indian customers with active UPI Ids (350 million bank accounts) to be able to transact at QR locations enabled by TerraPay, globally. Together, both companies intend to fortify UPI payments & QR solutions to extract their maximum potential. The partnership will further increase the use of UPI and QR for cross-border merchant payments. This initiative will speed ..

The case for pricing UPI transactions and what's at stake for banks

Banks pay a switching fee running into hundreds of crores every year for UPI, but have to offer the service for free

Indian fintech to have $1 tn in AUM, $200 bn revenue by 2030: Report

Fintech-facilitated lending will grow by $476 billion to reach $514.6 billion in book size by 2030

What are on-device wallet for small UPI transactions?

Following the RBI's guidelines, India's payments processor has designed an on-device wallet for Unified Payments Interface transactions up to Rs 200. What is it? How can it make our life easier?

TMS Ep137: Rupee-ruble trade, Sri Lanka, FMCG stocks, payment gateway

How's the rupee-ruble trade mechanism shaping up? How is Sri Lanka's economic crisis affecting India? More pain ahead for FMCG stocks? What is a payment gateway? Find all answers here

What is a payment gateway?

Most merchants today use payment gateways to accept purchases from customers. Let us know more about this technology which is making our transactions safe and quick

RBI to have on-device wallets in UPI apps for small-ticket transactions

RBI proposed an "on-device" wallet in UPI apps aiming to conserve banking systems' resources without changing the transaction experience for the user.

UPI records 3.65 bn transactions worth Rs 6.54 trillion in September

On a month-on-month (MoM) basis, UPI's volume of transactions was up 3 per cent, and the value of transactions was up 2.35 per cent