Page 5 - Upi

Paytm expects blended payment margin to stabilise at 5-7 bp on GMV

Digital financial services firm One97 Communications, which operates under Paytm brand, expects its blended net payment margin to stabilise at 5 to 7 basis points due to increase in share of UPI in the payment business, according to company's founder and CEO Vijay Shekhar Sharma. Net payment margin or net contribution profit is defined as payment revenues less payment processing charges. According to a presentation made before analysts, One97 Communications (OCL) said the company at present, earns net payment margin of 7 to 9 basis points (bps) of gross merchandise value (GMV) on processing. "Of which UPI gives us 3 to 4 bps and other instruments give us 15 to 18 bps. Since UPI is growing faster than other instruments, we expect blended margin to stabilize at 5 to 7 bps," Sharma said during the presentation. Paytm's payment charges will trend lower as percentage of GMV because of higher UPI in mix and routing and rate optimisations, the company explained. During the September 2022

Why this is India's decade

From being the 'office to the world', India is set to become its factory too

CBDC more anonymous than traditional e-transactions: IDFC First Bank CEO

In CBDC, the core banking will have a one-time debit for currency purchase, but all subsequent transactions, which move from wallet to wallet

NPCI holds talks with RBI on proposed December 31 volume cap deadline

National Payments Corporation of India (NPCI), which runs the UPI digital pipeline, is in talks with the Reserve Bank on implementation of its proposed December 31 deadline for limiting the volume cap of players to 30 per cent. At present, there is no volume cap. So, two players -- Google Pay and PhonePe -- account for a market share of about 80 per cent. NPCI in November 2022 had proposed a 30 per cent volume cap for third-party app providers (TPAP) in a bid to avoid concentration risk. In this regard, sources said, a meeting was convened to comprehensively look at all aspects. Besides NPCI officials, senior officials of the finance ministry and RBI also participated in this. At the moment, NPCI is evaluating all the possibilities and no final decision has been taken to extend the December 31 deadline, the sources said. NPCI has also received representations from industry stakeholders to extend the deadline and they are being examined, they added. According to the sources, NPCI

Six years after demonetisation, deployment of ATMs set for biggest spike

ATM deployments had hovered between 225,000 and 235,500 units, before sniffing the 260,000-mark recently

Future of technology going to be driven by India: UAE's AI minister

Though technology is driven from places such as Bengaluru, Al Olama said it is coming from the rest of the world as well

Google adds UPI's auto payment feature on Play Store for app subscriptions

Google has added UPI's auto payment system to the Play Store in India to enable users make recurring payment for apps subscription with one-time permission, the company said in a blog on Tuesday. "Today we're pleased to extend this convenience to subscription-based purchases by introducing UPI Autopay on Google Play in India. Introduced under UPI 2.0 by NPCI, UPI Autopay helps people make recurring payments using any UPI (Unified Payments Interface) application that supports the feature," Head of Google Play Retail & Payments Activation - India, Vietnam, Australia & New Zealand, Saurabh Agarwal, said in a blog. The money will be automatically deducted on every billing cycle of the app from user's bank account with activation of the feature.

A step-by-step guide on withdrawing cash from ATM using UPI apps

Withdrawing without debit or credit cards reduces chances of transaction failure due to wrong PINs, or lost or stolen cards; note, however, that very few banks offer UPI-based withdrawals currently

A step-to-step guide to transferring Amazon Pay balance to bank account

Note, however, that you can only do this if you have completed your KYC

G20 Delhi summit likely to have dedicated vertical for digital public goods

Open-source Aadhaar and UPI will be two top digital public goods offered; govt trying to take QR-based authentication and payment services global following success of DBT, payment digitisation

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

Top headlines: Adani to build plants in SL, active Indian firms near 1.5 mn

Business Standard brings you the top headlines this hour

NPCI likely to extend volume cap deadline for existing UPI apps

PhonePe, and Google Pay likely to be the beneficiaries

Walmart-owned PhonePe to enable UPI activation on Aadhaar-based OTP

The Walmart-owned firm said this will now enable several millions of Indians to become a part of the UPI ecosystem seamlessly

We do much more than just enable payments: PayNearby CEO Anand K Bajaj

'We want to make India a more inclusive and empowered nation'

For first time in decades, cash in circulation dips in Diwali week: Study

Technology changing how Indians make payments; trend will help monetary transmission: SBI Research

Centre to not intervene in deciding deadline for payment platforms' 30% cap

PhonePe and Google Pay approached the National Payments Corporation of India (NPCI) asking for an extension to the December 2022 deadline for at least three years

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%'

NPCI CEO pitches UPI autopay after Musk demands fee for blue ticks

Even as a debate rages about Twitter's decision to charge users for 'blue ticks', the NPCI has pitched its UPI autopay offering to take care of the monthly payments. National Payments Corporation of India (NPCI) managing director and chief executive Dilip Asbe replied to a tweet by billionaire Musk, saying the UPI's recurring payments offering already has 7 million users. "No worries, India has UPI AutoPay (7 Mn new approved collection mandates/month) to collect every anytime/month/quarter or yearly as you wish dear Twitter," Asbe wrote in response to Musk's tweet, tagging the microblogging site as well. "To all complainers, please continue complaining, but it will cost USD 8," Musk said in a tweet. It can be noted that the NPCI operated Unified Payments Interface (UPI) has been at the centre of the Indian digital payments story and taken the electronic alternative to newer highs. Twitter has been giving the 'blue tick' for public figures and known figures for many years now. The

Commonwealth Secretary General welcomes India's offer to share UPI tech

Commonwealth Secretary General Patricia Scotland has welcomed India's offer to share its path-breaking Unified Payments Interface (UPI) technology with other members of the Commonwealth of Nations, hailing the move as potentially transformational. UPI is an instant real-time payment system which facilitates inter-bank peer-to-peer (P2P) transactions. The transaction is done through mobile in easy steps. Besides, there are no charges applicable for the UPI transaction so far. Moreover, it has played a key role in the country making a transition to a cashless economy. The inexpensive medium for cashless transactions has been gaining traction month-on-month basis. Payment through UPI has crossed a milestone of Rs 11 lakh crore in September, as per the data released by National Payments Corporation of India. An offer was made by India at the Commonwealth Bank of Governors meeting on October 12. This generosity is very welcome, Scotland told PTI in an interview. India's willingness t