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Perspective on UPI transactions for August crossing the 10 billion mark by Mr. Sunil Rongala, Worldline India Below The Perspective on UPI transactions for August crossing the 10 billion mark by Mr. Sunil Rongala, Senior Vice President, Head – Strategy, Innovation & Analytics, Worldline India At 10 billion, there is still a lot of room for UPI transactions to grow. The data shows that UPI P2M transactions are growing at a pace of over 100% on a YoY basis and have a higher share than P2P transactions. Over time, P2M transactions will drive UPI transactions growth and it will be ...
Perspective on UPI transactions for August crossing the 10 billion mark by Mr. Sunil Rongala, Worldline India
Perspective on UPI transactions for August crossing the 10 billion mark by Mr. Sunil Rongala, Worldline India
Source: PR Agency
1/09/2023 11:35:33 AM
Germany`s Minister Volker Wissing makes mobile payment via Paytm; Embassy hails its simplicity and speed The Minister who is in Bengaluru for a G20 meeting scanned the Paytm QR code and was easily able to make the payment within seconds Paytm has revolutionised India's payment landscape with its pioneering QR code. Empowering street vendors by giving them the solution to their payment needs, the company has taken QR code to every nook and corner of the country. The German Embassy in India has also hailed India's digital infrastructure and has highlighted how seamlessly UPI transaction...
Germany`s Minister Volker Wissing makes mobile payment via Paytm; Embassy hails its simplicity and speed
Germany`s Minister Volker Wissing makes mobile payment via Paytm; Embassy hails its simplicity and speed
Source: PR Agency
22/08/2023 12:09:38 PM
Pioneered by India, QR payments to grow 590% in Southeast Asia by 2028   Pioneered by India, QR Code payments to grow more than 590 per cent in the leading Southeast Asian market by 2028, a new report said on Monday. According to Juniper Research, the volume of QR code payments in the Southeast Asian market will increase from 13 billion in 2023 to 90 billion in 2028.  "High growth in Southeast Asia and other developing markets is largely down to the financial inclusivity that QR payments offer; enabling unbanked users to access digital pa...
Pioneered by India, QR payments to grow 590% in Southeast Asia by 2028
Pioneered by India, QR payments to grow 590% in Southeast Asia by 2028
Source: IANS
21/08/2023 1:49:22 PM
India, US discuss G20 cross-border payments, global debt challenges India and the US have held wide-ranging discussions on cross-border payments issues including G20 payments roadmap, India’s United Payments Interface (UPI) platform, and the Federal Reserve’s implementation of the FedNow payments system. The meeting was held on August 3 between senior Finance Ministry officials led by Chief Economic Adviser V. Anantha Nageswaran and the US Treasury Department representatives in New Delhi, as part of their second sub-ministerial meeting followin...
India, US discuss G20 cross-border payments, global debt challenges
India, US discuss G20 cross-border payments, global debt challenges
Source: IANS
8/08/2023 9:22:59 AM
E-commerce growth in India to hit $150 bn by 2026 The e-commerce transaction value in India is likely to rise from $83 billion in 2022 to nearly $150 billion in 2026 at a 16 per cent compound annual growth rate, a report showed on Wednesday. The Philippines, Indonesia, India, Malaysia and Vietnam are projected to lead e-commerce growth in APAC through 2026, according to the FIS Global Payments Report 2023. “India has emerged as a global payments leader, developing the next generation of real-time payments infrastructure with the ...
E-commerce growth in India to hit $150 bn by 2026
E-commerce growth in India to hit $150 bn by 2026
Source: IANS
5/07/2023 4:01:19 PM
Apple Pay on course to arrive in India soon after initial talks with NPCI Apple Pay is likely to arrive soon in India and the tech giant, which has had preliminary discussions with the National Payments Corporation of India (NPCI) to launch a localised version of its digital payments app in the country, is once again firming up on the talks. Sources told IANS on Friday that initial talks were done and the Cupertino-based iPhone maker may soon launch its Apple Pay services in India, a country which now sits at the top on the company's global map. The iPhon...
Apple Pay on course to arrive in India soon after initial talks with NPCI
Apple Pay on course to arrive in India soon after initial talks with NPCI
Source: IANS
24/06/2023 9:14:53 AM
Paytm enables digital donations and VIP Darshan at Puri Jagannath temple during Rath Yatra One97 Communications Limited (OCL) that owns the brand Paytm, India’s leading payments and financial services company and the pioneer of QR and mobile payments, today announced that it is enabling devotees visiting Puri’s Jagannath temple to make donations using Paytm UPI and Paytm UPI Lite by scanning its QR code.   On the auspicious occasion of the Rath Yatra, the company is offering a VIP Darshan to select devotees making donations through the Paytm app until June 25...
Paytm enables digital donations and VIP Darshan at Puri Jagannath temple during Rath Yatra
Paytm enables digital donations and VIP Darshan at Puri Jagannath temple during Rath Yatra
Source: PR Agency
21/06/2023 3:11:44 PM
55% of MSMEs use mobile hotspots to connect to the internet for day-to-day business operations: PayNearby Study The MSME sector in India is on an ambitious growth curve and in recent years, there has been a progressive change in the mindsets of small business owners towards technology adoption. In an interesting insight, PayNearby, India’s leading branchless banking and digital network, today said that more than 71% Micro, Small and Medium Enterprises (MSMEs) in retail, use some form of digital technology for their day-to-day business operations. The report further highlighted that more...
55% of MSMEs use mobile hotspots to connect to the internet for day-to-day business operations: PayNearby Study
55% of MSMEs use mobile hotspots to connect to the internet for day-to-day business operations: PayNearby Study
Source: PR Agency
11/05/2023 5:15:19 PM
Paytm logs Rs 7,990 cr revenue in FY23, becomes India`s highest earning new-age firm Leading payments and financial services company Paytm on Friday announced an impressive growth in its fourth quarter of FY23, ending the financial year on a high note. In Q4 FY23, the company's revenue surged by 51 per cent (year-on-year) to reach Rs 2,334 crore, while the full-year revenue increased by 61 per cent YoY to Rs 7,990 crore, making it the highest earning new-age company. In Q4, Paytm further grew its operating profit by Rs 234 crore. In Q4, Paytm's EBITDA before ESO...
Paytm logs Rs 7,990 cr revenue in FY23, becomes India`s highest earning new-age firm
Paytm logs Rs 7,990 cr revenue in FY23, becomes India`s highest earning new-age firm
Source: IANS
6/05/2023 9:41:43 AM
India to become 50% non-cash economy in consumption in 3 years India is expected to become a 50 per cent non-cash economy in consumption in the next three years, with person-to-merchant digital transactions reaching over $1.5 trillion by FY26, a report showed on Thursday. India's household consumption is expected to reach more than $3 trillion by FY26, largely propelled by the upper-middle and high-income segments, with UPI payments likely making up a significant portion at around $1 trillion person-to-merchant (P2M) payments, according to the rep...
India to become 50% non-cash economy in consumption in 3 years
India to become 50% non-cash economy in consumption in 3 years
Source: IANS
4/05/2023 12:43:01 PM
PHDCCI-IIPP Hosted a Roundtable Discussion on India`s G20 Presidency: Opportunity to Scale Up Bilateral and Subregional Cooperation for Inclusive Growth`  With India's G20 Presidency this year, new opportunities have opened up and that should significantly help scaling up bilateral and subregional cooperation in South Asia as well. Under the aegis of its Think Tank "India-Nepal Centre" and in association with the Indian Institute of Public Policy (IIPP), PHDCCI organised a Roundtable Discussion on the central theme, "India's G20 Presidency: Opportunity to Scale Up Bilateral and Subregional Cooperation for Inclusive ...
PHDCCI-IIPP Hosted a Roundtable Discussion on India`s G20 Presidency: Opportunity to Scale Up Bilateral and Subregional Cooperation for Inclusive Growth`
PHDCCI-IIPP Hosted a Roundtable Discussion on India`s G20 Presidency: Opportunity to Scale Up Bilateral and Subregional Cooperation for Inclusive Growth`
Source: PR Agency
27/04/2023 2:18:48 PM
Paytm enables digital donations at Kedarnath temple via Paytm QR One97 Communications Ltd (OCL), that owns leading digital payments brand Paytm, on Wednesday enabled devotees visiting the Kedarnath shrine to make donations using Paytm UPI or Wallet by scanning Paytm QR code. Devotees from across India can make donations at the holy temple, situated in Rudraprayag district of Uttarakhand, from the comfort of their homes through Paytm Super App. "As the pioneer of QR and mobile payments in India, we have enabled digital donations at the doors of t...
Paytm enables digital donations at Kedarnath temple via Paytm QR
Paytm enables digital donations at Kedarnath temple via Paytm QR
Source: IANS
27/04/2023 9:30:21 AM
Worldline`s India Digital Payments Annual Report 2022 Mumbai, 17 April 2023 – Worldline, a global leader in payment services, has published the -‘India Digital Payments Annual Report' for 2022 today. The report encapsulates important payment trends of the industry for the calendar year 2022 and has derived some unique insights How India Pays? In 2022, payment modes like UPI, Debit and Credit cards, Prepaid Payment Instruments – Mobile and Prepaid cards processed 87.92 billion transactions wort...
Worldline`s India Digital Payments Annual Report 2022
Worldline`s India Digital Payments Annual Report 2022
Source: PR Agency
17/04/2023 1:58:10 PM
India saw 88 bn payment transactions worth Rs 150 tn in 2022, UPI leads Led by Unified payments interface (UPI), payment modes like debit and credit cards, prepaid payment instruments - mobile and prepaid cards processed 87.92 billion transactions worth Rs 149.5 trillion in 2022, a report showed on Monday. The UPI Person-to-Merchant (P2M) and Person-to-Person (P2P) are the most preferred payment modes among consumers with a market share of 40 per cent and 44 per cent, respectively, in terms of transaction volume (UPI was 84 per cent in total). In 2022, UPI ...
India saw 88 bn payment transactions worth Rs 150 tn in 2022, UPI leads
India saw 88 bn payment transactions worth Rs 150 tn in 2022, UPI leads
Source: IANS
17/04/2023 1:43:52 PM
Pre-sanctioned credit lines at banks through UPI: Reserve Bank of India Expanding the scope of Unified Payments Interface (UPI), the Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said pre-sanctioned credit lines at banks through the former will be allowed. "It is now proposed to expand the scope of UPI by permitting operation of pre-sanctioned credit lines at banks through the UPI. This initiative will further encourage innovation," Das said. According to him, the UPI has transformed retail payments in India and its robustness h...
Pre-sanctioned credit lines at banks through UPI: Reserve Bank of India
Pre-sanctioned credit lines at banks through UPI: Reserve Bank of India
Source: IANS
6/04/2023 12:48:34 PM
Paytm UPI Lite crosses 4 mn users with 10 mn transactions to date Homegrown Paytm Payments Bank has now over 4.3 million users on Paytm UPI Lite with more than over 10 million transactions so far through the Paytm Super App, the company said on Tuesday. Paytm UPI Lite continues to gain rapid popularity among the masses to carry out small-value transactions of up to Rs 200 in a single tap. Currently, 10 banks support Paytm UPI Lite -- Paytm Payments Bank, Canara Bank, Central Bank of India, HDFC Bank, Indian Bank, Kotak Mahindra Bank, Punjab National B...
Paytm UPI Lite crosses 4 mn users with 10 mn transactions to date
Paytm UPI Lite crosses 4 mn users with 10 mn transactions to date
Source: IANS
4/04/2023 5:59:26 PM
ONDC to foster hyperlocal ecommerce business model in India: Nandan Nilekani The government's Open Network for Digital Commerce (ONDC) platform will democratise ecommerce for millions of small retailers in India, paving the way for the rise of more dedicated distribution and logistics companies, Infosys Chairman and Co-founder Nandan Nilekani said on Tuesday. According to him, ONDC will not be limited to a few players but everyone in India -- a person owning a small grocery store, a small electronics retailer or a restaurant owner -- bringing millions of such p...
ONDC to foster hyperlocal ecommerce business model in India: Nandan Nilekani
ONDC to foster hyperlocal ecommerce business model in India: Nandan Nilekani
Source: IANS
4/04/2023 4:17:35 PM
UPI is free, fast, secure and seamless In the recent times, UPI has emerged as preferred mode of digital payment by offering free, fast, secure and seamless experience. Traditionally, the most preferred method of UPI transactions is linking the Bank account in any UPI enabled app for making payments which contributes over 99.9% of total UPI transactions. These Bank account-to-account transactions continue to remain free for Customers and Merchants. Recent regulatory guidelines, the Prepaid Payment Instruments (PPI Wallets) have...
UPI is free, fast, secure and seamless
UPI is free, fast, secure and seamless
Source: PR Agency
29/03/2023 3:08:43 PM
NPCI statement on recent media articles on `KYC scams` “With reference to recent media/social media articles on 'KYC scams' - The connection to UPI is misleading and incorrect. We assure all users that any payment through UPI does not expose the sender’s KYC details and neither does it lead to a user’s mobile or App getting hacked.   UPI works on the principle of payment using a Virtual Payment address or UPI ID – using secure method of device binding and UPI PIN to transfer money. KYC details are not us...
NPCI statement on recent media articles on `KYC scams`
NPCI statement on recent media articles on `KYC scams`
Source: PR Agency
29/03/2023 11:07:07 AM
Paytm Wallet now universally acceptable on all UPI QRs, online merchants Homegrown Paytm Payments Bank (PPBL), the largest issuer of KYC wallets (prepaid instruments) with over 100 million users, on Monday announced that its full KYC wallet customers will be able to make payments on every UPI QR codes and online merchant where UPI payments are accepted. The National Payments Corporation of India (NPCI) announced Wallet interoperability guidelines on March 24. "As the pioneer of mobile payments and QR based payments, this move presents incredible growth ...
Paytm Wallet now universally acceptable on all UPI QRs, online merchants
Paytm Wallet now universally acceptable on all UPI QRs, online merchants
Source: IANS
28/03/2023 9:07:47 AM
Cash use decline as UPI to drive India's e-com market to reach $150 bn in 2026 As unified payments interface (UPI)-based transactions continue to break all records, India's e-commerce market is projected to grow from $83 billion in 2022 to $150 billion in 2026, as cash transactions decline further, a report showed on Thursday. UPI recorded the biggest year-on-year growth of 74.1 per cent in transaction volume as of January 2023 and digital wallets grew from 5 per cent in 2019 to 35 per cent of POS value in 2022 stimulated by UPI, according to the '2023 Global...
Cash use decline as UPI to drive India's e-com market to reach $150 bn in 2026
Cash use decline as UPI to drive India's e-com market to reach $150 bn in 2026
Source: IANS
23/03/2023 1:46:38 PM
Paytm empowers users to get 100% refund on cancellation of train tickets with `Cancel Protect`, provides instant refund with no questions asked policy * Offers no questions asked 100% refund of fare amount credited instantly into the source account * Provides most convenient train ticketing experience with features like PNR confirmation prediction, check PNR and live train running status   One97 Communications Limited (OCL) that owns the brand Paytm, India’s leading payments and financial services company and the pioneer of QR and mobile payments, today announced that it has empowered Paytm Super App users to a...
Paytm empowers users to get 100% refund on cancellation of train tickets with `Cancel Protect`, provides instant refund with no questions asked policy
Paytm empowers users to get 100% refund on cancellation of train tickets with `Cancel Protect`, provides instant refund with no questions asked policy
Source: PR Agency
21/03/2023 3:33:15 PM
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 UPI LITE crosses 2 mn users with over half a million daily transactions Homegrown Paytm Payments Bank on Wednesday announced it now has over 2 million users on Paytm UPI LITE. The Bank recorded over half a million daily transactions for Paytm UPI LITE through the Paytm app, it said in a statement. "We have seen great adoption of Paytm UPI LITE, having crossed the milestone mark of over 2 million users within a short span of time," said a Paytm Payments Bank spokesperson. "With Paytm UPI, we bring lightning-fast payments that never fail, po...
Paytm UPI LITE crosses 2 mn users with over half a million daily transactions
Paytm UPI LITE crosses 2 mn users with over half a million daily transactions
Source: IANS
15/03/2023 12:33:53 PM
Paytm enables lightning fast payments that never fail for its users; offers up to ?100 cashback on UPI LITE activation Paytm is offering assured welcome cashback of up to ?100 on activation of Paytm UPI LITE balance for the first time. On the Paytm App, UPI LITE enables lightning fast real-time transactions with a single click without using the UPI PIN.   With UPI LITE, users can carry out a large number of small value UPI payments without worrying about a cap on the number of bank transactions. This makes way for a hassle-free payments experience. The secure on-device balance, UPI LITE makes daily...
Paytm enables lightning fast payments that never fail for its users; offers up to ?100 cashback on UPI LITE activation
Paytm enables lightning fast payments that never fail for its users; offers up to ?100 cashback on UPI LITE activation
Source: PR Agency
7/03/2023 5:30:28 PM
Make UPI payments of up to Rs 200 without pin Paytm makes single click payments possible with UPI LITE Paytm UPI LITE enables users with quick and seamless transactions at a lightning fast speed on Paytm Super App. Users can carry out multiple transactions of smaller values of up to Rs 200 at one point. It allows users to add a maximum of Rs 2,000 twice a day, resulting in a total daily usage of up to Rs 4,000, at a single tap. Paytm UPI LITE offers faster real-time transactions as no 4-6 digit PIN is required to make any payment. Owing to the ease, convenience, superior user experience, se...
Make UPI payments of up to Rs 200 without pin Paytm makes single click payments possible with UPI LITE
Make UPI payments of up to Rs 200 without pin Paytm makes single click payments possible with UPI LITE
Source: PR Agency
1/03/2023 4:33:09 PM
Paytm now offers lightning fast UPI payments that never fail in peak hours Paytm Payments Bank has become the only platform to exclusively offer UPI LITE payments, which enables faster real-time transactions with a single tap on the Paytm app. Paytm UPI LITE will never fail even during peak transaction hours, even when banks have success rate issues, the company said in a statement on Friday. Paytm UPI LITE aims to make digital payments more accessible to people across the country. UPI LITE, enabled by National Payments Corporation of India (NPCI), aids use...
Paytm now offers lightning fast UPI payments that never fail in peak hours
Paytm now offers lightning fast UPI payments that never fail in peak hours
Source: IANS
24/02/2023 2:30:20 PM
PayU launches 3DS 2.0 SDK authentication service for Indian merchants  New Delhi : PayU, India's leading online payments solution provider, announced the launch of 3D Secure 2.0 SDK, offering a full native checkout and superior customer experience for all card transactions. PayU merchants can provide optimized customer experience? while complying with major card network upgrades - including Visa and Mastercard while gaining better security and fraud protection. PayU’s lightweight 3DS 2.0 SDK provides lowered latency and a 40% reduc...
PayU launches 3DS 2.0 SDK authentication service for Indian merchants
PayU launches 3DS 2.0 SDK authentication service for Indian merchants
Source: PR Agency
24/02/2023 2:13:22 PM
Crest raises over Rs. 6.5 crores from IAN, IPV and founders of Delhivery, Pickrr, Shiprocket amongst others The funds will be used to expand Crest’s product offerings, scale operations and onboard more brands faster. Bangalore based Automated Inventory Planning SaaS startup Crest raised 800K USD in its pre-seed funding round, led by IAN and IPV. The round also saw participation from 888vc, Faad Network, PointOne Capital and notable founders of companies viz. Delhivery, Shiprocket, Pickrr, Smytten, Samosa Party, and Sirona among others. “Crest is built for D2C e-commerce and is foc...
Crest raises over Rs. 6.5 crores from IAN, IPV and founders of Delhivery, Pickrr, Shiprocket amongst others
Crest raises over Rs. 6.5 crores from IAN, IPV and founders of Delhivery, Pickrr, Shiprocket amongst others
Source: PR Agency
23/02/2023 3:04:28 PM
Pine Labs & Thomas Cook India partner to enable UPI payments to merchants for foreign nationals from G20 nations * Collaborated with NPCI for UPI enabled Indian Rupee payments for foreign nationals from G20 nations * Successfully completed first UPI-PPI wallet transaction for a G20 foreign national at Bengaluru Airport on February 21, 2023 * To go live at all Thomas Cook airport counters * Pine Labs launches FaveMoneyto enable the payment process Pine Labs, a leading merchant commerce omnichannel platform and Thomas Cook (India) Limited, India’s leading foreign exchange service pr...
Pine Labs & Thomas Cook India partner to enable UPI payments to merchants for foreign nationals from G20 nations
Pine Labs & Thomas Cook India partner to enable UPI payments to merchants for foreign nationals from G20 nations
Source: PR Agency
23/02/2023 2:38:32 PM
Axis Bank enables settlement of cross border transaction in real-time through the UPI network * Providing a real-time and cost-effective cross-border payment solution between India and Singapore * Axis Bank will currently settle transactions to beneficiaries holding an account with or are registered on the UPI App of SBI, IOB, Indian Bank, ICICI, DBS, and Axis Bank   Axis Bank, India’s third largest private sector bank, has successfully enabled cross-border transactions in real-time via the UPI Network. This initiative is a part of the joint initiative between the ...
Axis Bank enables settlement of cross border transaction in real-time through the UPI network
Axis Bank enables settlement of cross border transaction in real-time through the UPI network
Source: PR Agency
22/02/2023 12:03:12 PM
PM Narendra Modi, Singapore PM witness launch of payment interface linkage Prime Minister Narendra Modi and his Singaporean counterpart Lee Hsien Loong on Tuesday witnessed the launch of a cross-border linkage between the two nations using their respective fast payment systems namely Unified Payments Interface (UPI) and PayNow. The facility was launched through token transactions by Reserve Bank of India (RBI) governor Shaktikanta Das and Managing Director of Monetary Authority of Singapore (MAS), Ravi Menon using the UPI-PayNow linkage. The UPI-PayNow linkage...
PM Narendra Modi, Singapore PM witness launch of payment interface linkage
PM Narendra Modi, Singapore PM witness launch of payment interface linkage
Source: IANS
21/02/2023 2:06:15 PM
Narendra Modi, Singapore PM to witness launch of cross-border connectivity of payments interface  Prime Minister Narendra Modi and his Singaporean counterpart Lee Hsien Loong will witness the launch of cross-border connectivity between the unified payments interface (UPI) of India and PayNow of Singapore on Tuesday via video conferencing. The launch will be done by RBI Governor Shaktikanta Das and Ravi Menon, managing director of Monetary Authority of Singapore. India has emerged as one of the fastest-growing ecosystems for fintech innovation. The linkage of these two payme...
Narendra Modi, Singapore PM to witness launch of cross-border connectivity of payments interface
Narendra Modi, Singapore PM to witness launch of cross-border connectivity of payments interface
Source: IANS
20/02/2023 2:34:21 PM
Paytm Payments Bank goes live with UPI LITE to boost small-value UPI transactions Homegrown Paytm Payments Bank Limited (PPBL) on Wednesday said it has gone live with UPI LITE, a feature enabled by the National Payments Corporation of India (NPCI) for multiple small-value UPI transactions. It will enable faster real-time transactions with a single click through Paytm. With UPI LITE, the Bank aims to drive the adoption of digital payments across the country. Once loaded, a UPI LITE wallet allows a user to do instant transactions of up to Rs 200 in a seamless way. A...
Paytm Payments Bank goes live with UPI LITE to boost small-value UPI transactions
Paytm Payments Bank goes live with UPI LITE to boost small-value UPI transactions
Source: IANS
15/02/2023 12:25:01 PM
UPI transactions registered in FY 21-22 were 45 b, show 8 times growth in last 3 yrs The number of UPI transactions in the country has witnessed a spike in the last couple of years. UPI transactions registered in FY 21-22 were 45 billion, showing an 8 times growth in the last 3 years and 50 times growth in the last 4 years. For promotion of digital payments, the Ministry of Electronics and Information Technology (MeitY) has introduced the Incentive Scheme for promotion of RuPay Debit Cards and low-value BHIM-UPI transactions for the current financial year. This was stated ...
UPI transactions registered in FY 21-22 were 45 b, show 8 times growth in last 3 yrs
UPI transactions registered in FY 21-22 were 45 b, show 8 times growth in last 3 yrs
Source: IANS
14/02/2023 11:08:29 AM
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
Paytm's sooner than promised profitability impresses analysts, Brokerages issue Buy calls Paytm, India's leading digital and mobile payments and the pioneer of QR code, has received positive commentary from the global brokerages' analysts after the fintech company achieved operating profitability with EBITDA before ESOP cost at Rs 31 crore, ahead of its guided timeline of September 2023. Global firms such as Goldman Sachs, Bank of America, CLSA and Citic have raised their price target on Paytm by up to 119 per cent. Citi, CLSA, and Goldman Sachs have recommended to b...
Paytm's sooner than promised profitability impresses analysts, Brokerages issue Buy calls
Paytm's sooner than promised profitability impresses analysts, Brokerages issue Buy calls
Source: IANS
6/02/2023 3:38:47 PM
India's Paytm jumps 7.4% after surprise Q3 operating profit BENGALURU  - Shares of India's Paytm rose as much as 7.4% in early trading on Monday after the fintech company unexpectedly posted its first-ever quarterly operating profit as a listed firm.
India's Paytm jumps 7.4% after surprise Q3 operating profit
India's Paytm jumps 7.4% after surprise Q3 operating profit
Source: Reuters
6/02/2023 9:31:52 AM
Paytm Founder announces operating profitability, says free cash flow generation is next  Paytm, leading payments and financial services company, on Friday said it has achieved operating profitability with EBITDA before ESOP cost at Rs 31 crore, much ahead of its September 2023 guidance. Paytm's revenue from operations increased to Rs 2,062 crore (no UPI incentive recorded this quarter), a growth of 42 per cent YoY and 8 per cent QoQ. The growth was driven by increased adoption by consumers and subscription services by merchant partners along with sustained growth ...
Paytm Founder announces operating profitability, says free cash flow generation is next
Paytm Founder announces operating profitability, says free cash flow generation is next
Source: IANS
4/02/2023 10:14:34 AM
UPI-based transactions hit record 8.03 bn in Jan at Rs 13 tn in value The Unified Payments Interface (UPI)-based transactions hit 8.03 billion in January, a substantial increase from the 7.82 billion transactions recorded in December 2022. According to the data by the National Payments Corporation of India (NPCI), the value of transactions hit nearly Rs 13 trillion in January. The volume of transactions was 7.8 billion, and value was Rs 12.8 trillion in December. This milestone proves that the country is now firmly on the path to becoming a digital-first ...
UPI-based transactions hit record 8.03 bn in Jan at Rs 13 tn in value
UPI-based transactions hit record 8.03 bn in Jan at Rs 13 tn in value
Source: IANS
3/02/2023 2:50:21 PM
Piyush Goyal calls for creation of network to strengthen global startup ecosystem Union Minister for Commerce and Industry, Piyush Goyal on Saturday called for creation of an international network of mentors, investors and entrepreneurs to strengthen the global startup ecosystem. The Minister said that this network must support and inspire startups, act as a team to facilitate exchange of ideas, best practices and funding mechanisms and promote collaborations in Research and Development. The Union Minister was addressing the inaugural session of the Inception Meeting...
Piyush Goyal calls for creation of network to strengthen global startup ecosystem
Piyush Goyal calls for creation of network to strengthen global startup ecosystem
Source: IANS
28/01/2023 5:33:15 PM
India's PhonePe raises $350 million at $12 billion valuation Walmart-owned Indian digital payments app said on phone pay Thursday it has raised $350 million at a valuation of $12 billion in a funding round led by private-equity firm General Atlantic. Funding rounds backed by venture capital firms have slowed down, with Indian startups having raised a third lesser last year than in 2021, according to Venture Intelligence. Under pressure to cut costs and turn profitable, startups have removed thousands of employees in the recent months. Pho...
India's PhonePe raises $350 million at $12 billion valuation
India's PhonePe raises $350 million at $12 billion valuation
Source: Reuters
19/01/2023 12:08:44 PM
Paytm will be key beneficiary of India`s UPI incentive scheme: Morgan Stanley India's leading digital payments and financial services company Paytm will be a key beneficiary of India's Unified Payments Interface (UPI) incentive scheme, brokerage firm Morgan Stanley said on Thursday. The Union Cabinet on Wednesday approved the incentive scheme of Rs 26 billion for promotion of RuPay Debit Cards and low-value BHIM-UPI transactions (P2M) for FY23, compared with Rs 15 billion in FY22. "Apart from banks, Paytm should be a key beneficiary of the above. On ...
Paytm will be key beneficiary of India`s UPI incentive scheme: Morgan Stanley
Paytm will be key beneficiary of India`s UPI incentive scheme: Morgan Stanley
Source: IANS
12/01/2023 2:13:00 PM
PhonePe fully separates from parent company Flipkart E-commerce giant Flipkart on Friday announced the full ownership separation of digital payments platform PhonePe. Following the partial separation announced in December 2020, Flipkart and PhonePe are now established as separate entities, the company said in a statement. The PhonePe Group was acquired by the Flipkart Group in 2016. "We are confident PhonePe will continue to scale and achieve its vision of providing financial inclusion to millions of Indians," said Kalyan Kri...
PhonePe fully separates from parent company Flipkart
PhonePe fully separates from parent company Flipkart
Source: IANS
23/12/2022 11:27:19 AM
India has 350 mn online transacting users, set to grow 2X by 2030 India currently has around 350 million online transacting users across e-commerce, shopping, travel and hospitality, and OTT and the number is set to double by 2030, a new report showed on Wednesday. There are about 40-45 million mature users who spend a considerable share of their wallet online (more than 50 per cent). "We expect online transactors to become 2X by 2030, with mature users being the faster-growing cohort," said Mukesh Kumar, Engagement Manager, Redseer Strategy...
India has 350 mn online transacting users, set to grow 2X by 2030
India has 350 mn online transacting users, set to grow 2X by 2030
Source: IANS
14/12/2022 1:59:59 PM
Kerala bankers welcome outcome of RBI's MPC meet  Leading bankers in Kerala on Wednesday hailed the outcome of the Reserve Bank India's Monetary Policy Committee (MPC) meet, stating that its decisions will keep inflationary expectations anchored while keep economic growth on track. On Wednesday, the MPC decided to increase policy repo rate by a modest 35 bps while keeping the inflation forecast steady but cutting economic growth to 6.8 per cent. Most of the bankers feel that the rate action by MPC is in sync with industry exp...
Kerala bankers welcome outcome of RBI's MPC meet
Kerala bankers welcome outcome of RBI's MPC meet
Source: IANS
7/12/2022 6:23:05 PM
NPCI defers UPI market cap rules till December 31, 2024 In a major relief for some third-party digital payments players, the National Payments Corporation of India (NPCI) on Friday said it is extending the Unified Payments Interface (UPI) volume cap rules deadline till December 31, 2024. The NPCI initially planned to enforce the UPI market cap rules in January 2021, but delayed it several times. "In view of significant potential of digital payments and the need for multi-fold penetration from its current state, it is imperative that oth...
NPCI defers UPI market cap rules till December 31, 2024
NPCI defers UPI market cap rules till December 31, 2024
Source: IANS
3/12/2022 9:52:17 AM
Paytm Payments Bank supports UPI market cap - maintains its leadership as a PSP and Issuer Bank * The Bank being certified PSP (Payment Service Provider) and Issuer Bank for UPI transactions won’t come under the purview of NPCI’s market cap * Continues to lead UPI payments as the largest beneficiary bank and a leading remitter bank India’s homegrown Paytm Payments Bank Limited (PPBL) today shared that it supports and welcomes the proposed implementation of National Payments Council of India’s (NPCI) UPI market cap. With this, the UPI ecosystem in India will...
Paytm Payments Bank supports UPI market cap - maintains its leadership as a PSP and Issuer Bank
Paytm Payments Bank supports UPI market cap - maintains its leadership as a PSP and Issuer Bank
Source: PR Agency
24/11/2022 3:17:23 PM