Page 9 - Upi Transactions

In a first, UPI transactions exceed ATM cash withdrawals, courtesy pandemic

But while cash withdrawals and dealings are declining, there has been a 20% YoY spike in the quantum os notes and coins help with the public

Currency with public rises 22.5% YoY to Rs 26.09 trillion as on Oct 9

Latest data showed that in the first 15 days of October, UPI transactions crossed 1 billion, experts say in the festive season this could breach 2 billion

UPI transactions cross 1 billion in first 15 days of October: RBI data

The transactions were worth Rs 1.92 trillion and broke previous records

SBI Card: Analysts see more upside given distribution network, biz model

As SBI Card is the largest pure credit-card issuer in India, analysts expect the company to grow faster than the sector average

India leads world, processes 41 mn real-time transactions a day: Report

Real-time payments doubled this year and transaction value increased by 80 per cent, says FIS Global.

Cash-to-GDP ratio could hit 14-15%, the highest since independence

This is assuming 10% contraction in India's nominal GDP; currency with public crossed Rs 26 trillion in mid September

From tax collection to car sales, India's economic recovery picks up pace

GST mop-up at 7-month high, manufacturing PMI at 8-year high, but new projects down 81% in Q2

UPI hits Rs 3.3-trillion transactions in September, shows RBI data

The value of transactions reached Rs 3.3 trillion, from Rs 2.98 trillion a month ago

UPI transactions stood at Rs 3.29 trillion in September, shows NPCI data

The Unified Payments Interface (UPI) transactions stood at Rs 3.29 lakh crore in September with number of transactions at 1.8 billion, NPCI data showed

UPI transaction volume tops 1.7 bn in Sept, crosses Rs 3 trn by value

The coronavirus (Covid-19) pandemic has resulted in massive adoption of UPI in the offline and online segments

We've been trying to shift firms to B2B payments: SBI Card MD & CEO

Since June, we have been on an upward trajectory, however, we are still not at pre-Covid levels. But we are getting there, said MD Tewari

UPI volumes at new high; digital transactions almost at pre-Covid levels

In August, UPI volumes touched 1.61 billion transactions worth Rs 2.98 trillion, compared to 1.49 billion transactions in July worth Rs 2.9 trillion

PhonePe to expand business, digitise 25 mn small merchants, create 10K jobs

The company plans to reach 5,500 talukas via its merchant acquisition team that will lead to over 10,000 jobs being created in semi-urban and rural areas

Refund charges taken since Jan 1 on UPI, RuPay payments: Tax dept to banks

To encourage digital transactions and move towards a less-cash economy, the government inserted a new provision, Section 269SU, in the Finance Act, 2019

Pvt banks charging fee on more than 20 P2P UPI transfers in a month: Report

Defending the move, bankers said that the charges have been introduced in a bid to prevent frivolous transactions from putting a load on the system

UPI transactions hit all-time high of 1.49 billion in July: NPCI data

During the April-July period of 2020-21, the cumulative transactions on UPI reached 6.31 billion. The value transacted stood at Rs 6.31 trillion

Digital payments see good growth in Jul; UPI transactions up 11% to 1.49 bn

While there was a blip in the transactions in April due to the nation-wide lockdown, digital payment transactions soon recovered as the nation opened up

Customers, merchants can use UPI Autopay facility for recurring payments

UPI transactions hit an all-time high of 1.34 billion in June, with transactions of over Rs 2.61 trillion clocked in June alone

India likely to have UPI-type architecture for instant credit disbursement

"The payment architecture OCEN can truly democratise credit flow, making the process hassle-free," said Nandan Nilekani

NPCI updates UPI with auto pay feature for smoother recurring transactions

The feature needs customer mandates for these recurring payments to be made. Mandates can be set up with a frequency of user's choice such as daily weekly, monthly or annually