Page 7 - Upi

Large corporates request RBI for customers' UPI data, says Dy Guv Sankar

Large corporates, including fintech, have requested the RBI on how they could access the data from UPI

Data monetisation should have consumer consent: RBI deputy governor

Last month, the government withdrew the Personal Data Protection Bill from the Lok Sabha and IT Minister had said the Centre was hopeful of getting a new legislation passed by the next Budget Session

Financial inclusion through fintechs

By helping to eliminate information asymmetry across the user journey, fintech has made the equitable distribution of financial services easier. This ensures better inclusivity.

Banks in talks with Singapore's DBS to begin real-time remittance system

At least five Indian banks, including the State Bank of India and ICICI Bank, are in discussions with Singapore's DBS Bank to start a real-time remittance system using UPI as the backbone

National energy major IOCL enhances customer payment experience with Fiserv

Indian Oil Corporation Limited Enhances Customer Payment Experience with Fiserv

Growth in credit card spends is here to stay: Rama Mohan Rao Amara

Rama Mohan Rao Amara, MD & CEO, SBI Card spoke on the reasons behind record spends, the company's ideal run rate of issuance of credit cards, impact of RBI's discussion paper on payment charges.

UPI processes over 6.5 billion transactions in August worth Rs 10.72 trn

Digital payment transactions value through UPI rose to Rs 10.73 lakh crore in August this year, up marginally from the previous month, data showed on Thursday. In July 2022, the UPI-based digital transaction value stood at Rs 10.63 lakh crore. The value of UPI transactions during August this year relates to a total of 6.57 billion (657 crore) transactions, up from 6.28 billion (628 crore) in the preceding month, as per the data released by the National Payments Corporation of India (NPCI). In June, there were 5.86 billion transactions, valued at worth Rs 10.14 lakh crore. Of the other data sets on the NCPI framework, the instant transfer-based IMPS clocked transactions worth Rs 4.46 lakh crore in August, relating to a total of 46.69 crore transactions. In July, it stood at Rs 4.45 lakh crore in value terms through a total of 46.08 crore transactions. The NETC FASTAG for automatic toll deduction at toll plazas witnessed transactions worth Rs 4,245 crore in August, up from Rs 4,162

India leading globally in digital payments, says Rajeev Chandrasekhar

Under PM Kisan Samman Nidhi Yojana, up to Rs 19,000 crore were transferred directly into bank accounts of 95 million beneficiaries in a single day, he added

Stop charging platform fee on BBPS payments: NPCI directs payment apps

NPCI's directive comes days after a discussion paper was released by the Reserve Bank of India (RBI) related to such charges

Digital currency: The govt would do well not to get carried away on CBDC

If financial inclusion is the goal of issuing CBDCs, it might not be worth it since UPI has been fairly successful in achieving it

Statsguru: Six charts explain the rise of UPI transaction volumes

Smaller transactions dominate the system. Nearly seven out of every 10 transactions initiated via UPI are for less than Rs 500

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

State funds to popularise digital payment appropriated by banks: PCI chief

Payment aggregators have received nothing, says Vishwas Patel as RBI discussion paper starts debate

Latest news LIVE: SC terminates CoA panel running AIFF over FIFA suspension

From the CBI's probe into Delhi Excise Policy, the deposal of top Amazon, Apple, Netflix, and other firms' executive before parliamentary panel to Covid news, catch all the live news updates here

No plans to levy charges on UPI transactions, says Finance Ministry

'The concerns of the service providers for cost recovery have to be met through other means,' tweets the ministry

RBI moots 'tiered' charge on payments through UPI, seeks public feedback

The RBI has asked for feedback and suggestions before October 3

Should there be charges on UPI fund transfers?

Will you be comfortable paying for your daily UPI transactions? This is one of the many questions that the RBI has asked from the public as it wants to help make this digital ecosystem sustainable.

RBI seeks public feedback on charges in payment systems by Oct 3

Charges for payment services should be reasonable and competitively determined for users while also providing optimal revenue stream for the intermediaries, states the discussion paper

India leads the world in real-time digital payments, says PM Modi

Success shows 'innovation prowess' of indigenous payment structure and fintech companies, he says

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