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Digital transactions see 178% rise in volume in 3 years There has been an exponential increase of 178 per cent in the volume of digital payment transactions in the last three years with the rise of several platforms like Bharat interface for money-unified payments interface (BHIM-UPI), immediate payment service (IMPS) and prepaid payment instruments (PPIs). among others. According to official figures, between 2019-20 and 2022-23, the volume of digital transactions rose from Rs 4,572 crore to Rs 12,735 crore, showing a rise of 178 per cent in ju...
Digital transactions see 178% rise in volume in 3 years
Digital transactions see 178% rise in volume in 3 years
Source: IANS
6/04/2023 9:40:25 AM
Canara Bank Rupay Credit Card on UPI The use of Unified Payment Interface (UPI) has been on the rise, with UPI becoming the most popular digital product of NPCI used by people of all ages and genders due to its simplicity. To leverage the reach of UPI and the strength of credit card products, Canara Bank, in collaboration with NPCI, has launched the Rupay Credit Card through UPI using the BHIM app. With this introduction, all Canara Bank customers can link their active Rupay Credit Card to UPI and make merchant payments without ...
Canara Bank Rupay Credit Card on UPI
Canara Bank Rupay Credit Card on UPI
Source: PR Agency
15/03/2023 2:43:26 PM
Paytm launches G20-theme QR Code, celebrates India's presidency One97 Communications Limited that owns leading payments and financial services company Paytm, on Friday launched a special G20-theme, QR Code to celebrate India's presidency of the inter-governmental forum and the country's leadership in mobile payments. The QR code was launched by Ashwini Vaishnaw, Union Minister for Railways and IT, during the 'Digital Payments Utsav' at the India Habitat Centre here. Paytm has played an important role in the mobile payments revolution...
Paytm launches G20-theme QR Code, celebrates India's presidency
Paytm launches G20-theme QR Code, celebrates India's presidency
Source: IANS
10/02/2023 1:58:12 PM
Number of digital payment transactions spike in FY 2021-22 The number of digital payment transactions increased significantly during the last few years -- from Rs 2,071 crore in FY 2017-18 to Rs 8,840 crore in FY 2021-22. As per a written reply by the Union Ministry of Electronics in the Lok Sabha on Wednesday, during the last five years, various easy and convenient modes of digital payments, including Bharat Interface for Money-Unified Payments Interface (BHIM-UPI), Immediate Payment Service (IMPS), and National Electronic Toll Collection (NETC),...
Number of digital payment transactions spike in FY 2021-22
Number of digital payment transactions spike in FY 2021-22
Source: IANS
8/02/2023 2:27:04 PM
People's Wishlist: Dividend linked to share price, IT exemption hike on top From allowing company dividends to be linked to the market price of shares, scrapping of income tax (IT), goods and services tax (GST) on insurance policies to increasing the IT exemption limit to Rs 5 lakh are the expectations from the upcoming budget. "There is no wish list. Just one wish. Zero tax," quipped a Tamil Nadu government employee. While that may be possible in utopia another interesting wish expressed by a chartered accountant is the linking of dividends declared ...
People's Wishlist: Dividend linked to share price, IT exemption hike on top
People's Wishlist: Dividend linked to share price, IT exemption hike on top
Source: IANS
22/01/2023 1:51:09 PM
Razorpay allows merchants to accept credit card payments via UPI Fintech platform Razorpay on Monday announced an industry-first move to enable merchants to accept credit card transactions on unified payments interface (UPI), as the digital payments landscape witnesses a stupendous growth. With RuPay credit cards being enabled on UPI, Razorpay merchants can begin accepting credit card payments on UPI, with minimal changes to their existing setup. The company said that move is made possible in partnership with Axis bank, which shares Razorpay's fo...
Razorpay allows merchants to accept credit card payments via UPI
Razorpay allows merchants to accept credit card payments via UPI
Source: IANS
5/12/2022 4:45:49 PM
NPCI launches open source BHIM app licensing model The National Payments Corporation of India (NPCI) on Wednesday announced the launch of BHIM App open source license model to regulated entities participating in the Unified Payments Interface (UPI) ecosystem. The source code of BHIM App will help those who do not have UPI app of their own, to empower them to launch their own UPI app. "Currently, several banks do not have their own mobile banking app and are missing out on extending the benefits of the country's largest retail p...
NPCI launches open source BHIM app licensing model
NPCI launches open source BHIM app licensing model
Source: IANS
10/11/2022 10:51:50 AM
Digital Payment solutions record unprecedented growth in India  India has been extremely keen on adopting digital payment system fully and has been making giant leaps towards it. During the last three years, digital payment transactions have registered unprecedented growth in India. Easy and convenient modes of digital payment, such as Bharat Interface for Money-Unified Payments Interface (BHIM-UPI); Immediate Payment Service (IMPS); pre-paid payment instruments (PPIs) and National Electronic Toll Collection (NETC) system have registered substant...
Digital Payment solutions record unprecedented growth in India
Digital Payment solutions record unprecedented growth in India
Source: IANS
12/10/2022 5:14:49 PM
With 5 bn Soundbox transactions processed in FY22, Paytm strengthens offline payment`s pioneership  The adoption of digital payments in India has skyrocketed over the past few years, and the country is now one of the leading markets in the segment, driven by rapid adoption of online payments. While the digital payments revolution started off with focus on consumer-oriented innovations, leading fintech companies are now creating solutions for merchants to further strengthen the digital payments ecosystem. Being the leading digital payments and financial services company in the co...
With 5 bn Soundbox transactions processed in FY22, Paytm strengthens offline payment`s pioneership
With 5 bn Soundbox transactions processed in FY22, Paytm strengthens offline payment`s pioneership
Source: IANS
23/09/2022 12:43:20 PM
BHIM UPI transactions more than double to 273 cr in March The number of transactions through BHIM UPI more than doubled to 273 crore in March 2021, according to the National Payments Corporation of India (NPCI) data released on Thursday. In March 2020, around 125 crore transactions took place through BHIM UPI. The value of UPI transactions during the month stood at Rs 5,04,886 crore against that of Rs 2,06,462 crore in the year-ago month. In February 2021, the number of BHIM UPI transactions were 229 crore valued at Rs 4,25,062 crore. The real time ...
BHIM UPI transactions more than double to 273 cr in March
BHIM UPI transactions more than double to 273 cr in March
Source: Dion Global Solutions Ltd
2/04/2021 11:33:42 AM