Page 8 - Upi

UPI records 6 billion transactions in July, highest ever since 2016

UPI crossed 1 billion transactions for the first time in October 2019, almost three years after its launch

Linking RuPay credit cards with UPI a game-changer, but pain points remain

It could well be argued that had UPI been profitable for banks, they may have been able to settle for a lower MDR on RuPay credit cards

Explained: How 2% MDR on RuPay-UPI may affect credit card industry

According to analysts, SBI Card and Paytm stand to gain the most if RBI agrees to levy 2% merchant discount rate (MDR) on RuPay-based credit cards linked to UPI

TMS Ep224: UPI-credit card link, monkeypox, auto firms' results, DESH Bill

Will UPI on credit cards take off? Should India be worried about monkeypox? Will easing chip shortage perk up auto firms' Q1 commentary? What is the DESH Bill? All answers here

Top Headlines: India working on monkeypox test kit; IDBI Bank divestment

Pakistan ramped up its imports from India despite Islamabad's ban on trade with its eastern neighbour in the April-May period. Read more on this in our top headlines

Merchant discount rate on UPI-RuPay credit cards likely to be 2%

NPCI set to seek RBI nod for scheme; free swipes at smaller outlets

RuPay credit card-UPI linkage to be operational in 2 months, says NPCI CEO

NPCI will come up with the guidelines in consultation with the ecosystem. It will send a formal proposal to the RBI, and after the apex bank's nod, it will be operationalised.

Prepping for tokenisation deadline, UPI transaction failures decline

Payment failures rose only marginally after RBI implemented its mandate on recurring payments, suggesting that the system should be able to handle the transition to tokenisation too

Wary of foreign duopoly in UPI, MPs to raise issue in Parliament

With the payments through various UPI apps fast becoming the norm of the day, regulators and even lawmakers are becoming wary of a strong duopoly in the market and that too of foreign-owned entities. As per the latest data from the National Payments Corporation of India (NPCI), which is pushing for capping the market share of each player at 30 per cent, there were more than five dozen UPI (Unified Payments Interface) apps registered in the country at the end of June 2022 and together they accounted for 5.8 billion transactions with a total value of over Rs 10 lakh crore during the month. However, the top-two players -- Walmart-owned PhonePe and Google's G-Pay -- accounted for more than 81 per cent of the total volume and nearly 84 per cent of the value. Adding PayTM, the share of the top-three players rose even further to 96 per cent. Amazon Pay, another foreign player, which generally figures in the top five, has also been seeking to expand its market aggressively but it commands

Startups should think of credit solution for small businesses: Vaishnaw

Vaishnaw urged consumer tech companies to leverage Open Network for Digital Commerce (ONDC), India's alternative in its e-commerce market

UPI transactions remain above Rs 10 trillion in June, shows NPCI data

However, it was down by nearly 3 per cent from the previous month

As RBI rings in changes, here is why SBI Cards is the darling of analysts

SBI Cards' market share in terms of the number of credit cards has moderated by around 10 basis points to 19.1 per cent

PhonePe prepping for IPO; seeks valuation of $8 bn-$10 bn: Report

Also, the company has initiated plans to move its registered holding entity from Singapore to India, underlining its 'made in India' credentials.

Top Headlines: India's tough talk at WTO, IPL media rights auction & more

Piyush Goyal in his remarks at the WTO ministerial meet talked about the spiralling food inflation and the need for the agreement on food stockholding

How credit card route to UPI may come at a price for merchants

Smaller merchants can be subsidised to make it work

Credit card linkage to UPI: Uncertainty over pricing leaves players in dark

There is no clarity on whether linking to UPI facility will be extended to credit cards of other card networks, such as Visa, Mastercard, American Express, etc

Over 4.5-million IPO mandates created via UPI in May, shows data

In May, 4.5 million IPO mandates were created through UPI and a record 2.4 million mandates got executed, data shows

RBI allows credit cards to be linked to UPI; marks shift from 'pay now'

Initially, home-grown card network Rupay Credit cards will be linked with UPI

Digital payments in India projected to reach $10 trn by 2026: Report

Smaller cities have recorded high acceptance of such transactions as cash use declines in country.

UPI processed nearly 6 billion transactions worth Rs 10 trillion in May

NPCI sets its eyes on processing a billion UPI transactions a day on its platform within the next 3-5 years