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UPI transactions may touch 25 billion a month towards 2025 end The mega success story of Unified Payments Interface (UPI) continues, and it would be no surprise if the number of UPI transactions touches 25 billion a month towards the end of 2025, industry experts said on Monday.  After reaching a record high in October 2024 of 16.58 billion transactions and a value of Rs 23.50 lakh crore, UPI transactions in November stood at 15.48 billion transactions (38 per cent year-on-year growth) with a value of Rs 21.55 lakh crore (24 per cent YoY growth)....
UPI transactions may touch 25 billion a month towards 2025 end
UPI transactions may touch 25 billion a month towards 2025 end
Source: IANS
2024-12-02 11:13:33 am
UPI transactions see 38 pc YoY growth in November  After touching an all-time high in October, the unified payments interface (UPI)-based transactions stood at 15.48 billion last month which is a 38 per cent year-on-year growth, along with Rs 21.55 lakh crore in total transaction amount — a 24 per cent YoY growth, the National Payments Corporation of India (NPCI) data showed on Sunday.  In October, UPI recorded 16.58 billion transactions worth Rs 23.5 lakh crore, the highest since the UPI became operational in April 2016. ...
UPI transactions see 38 pc YoY growth in November
UPI transactions see 38 pc YoY growth in November
Source: IANS
2024-12-02 08:57:19 am
Phi Commerce`s UPI Switch gets a go ahead from NPCI Digital payments fintech Phi Commerce has received National Payment Corporation of India (NPCI) certification to offer UPI Switch for its enterprise customers, primarily to sustain high transaction volumes. Considered as the next revolutionary innovation in the digital payments space, the UPI Switch enables fintechs like Phi Commerce to onboard enterprise customers instantly, reducing substantial turnaround time associated with the existing bank-driven process to induct new customers. This, i...
Phi Commerce`s UPI Switch gets a go ahead from NPCI
Phi Commerce`s UPI Switch gets a go ahead from NPCI
Source: PR Agency
2024-11-22 09:22:23 am
Paytm goes live with onboarding of new users for UPI; link your bank account on Paytm app to get a new UPI ID, for super fast payments One97 Communications Limited (OCL) that owns the brand Paytm, India’s leading payments and financial services distribution company and the pioneer of QR, Soundbox and mobile payments, has gone live with the onboarding of new UPI users on the Paytm app. This comes after the Company received approval from the National Payments Corporation of India (NPCI) on October 22, to onboard new UPI users. Paytm spokesperson said, “As the pioneers of mobile payments in India and a homeg...
Paytm goes live with onboarding of new users for UPI; link your bank account on Paytm app to get a new UPI ID, for super fast payments
Paytm goes live with onboarding of new users for UPI; link your bank account on Paytm app to get a new UPI ID, for super fast payments
Source: PR Agency
2024-10-24 05:29:29 pm
Paytm gets NPCI nod to onboard new UPI users One97 Communications (OCL), the company that operates Paytm, said on Tuesday that it received a nod from the National Payments Corporation of India (NPCI) to onboard new UPI users.  The permission was granted by NPCI Managing Director and Chief Executive Officer (CEO) Dilip Asbe following a request made by OCL on August 1. In a letter to OCL founder and CEO Vijay Shekhar Sharma, the NPCI chief stated: "Upon examination of your request, we hereby accord our approval and permit ...
Paytm gets NPCI nod to onboard new UPI users
Paytm gets NPCI nod to onboard new UPI users
Source: IANS
2024-10-23 10:23:28 am
Increasing UPI 123Pay, UPI Lite limits to benefit more users The Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday announced an increase in pre-transaction limits for UPI 123Pay and UPI Lite payment mechanisms.  With new guidelines, the users will soon be able to do low-value UPI transactions of up to Rs 1,000 without entering the PIN. Earlier, the limit was Rs 500. The limit for UPI Lite balance has also been raised to Rs 5,000 from Rs 2,000. UPI Lite is available on Paytm, BHIM App, Google Pay and other such payments apps. ...
Increasing UPI 123Pay, UPI Lite limits to benefit more users
Increasing UPI 123Pay, UPI Lite limits to benefit more users
Source: IANS
2024-10-09 02:51:24 pm
UPI surges to Rs 20.64 lakh cr in value in Sep, transactions jump to 15.04 billion The Unified Payments Interface (UPI) surged to Rs 20.64 lakh crore in value in the month of September -- a 31 per cent growth (year-on-year) -- while the number of transactions jumped to 15.04 billion, a growth of 42 per cent YoY, the National Payments Corporation of India (NPCI) data showed on Tuesday.  The average daily transaction amount stood at 501 million (up from 483 million in August) and average daily transaction amount reached Rs 68,800 crore (from Rs 66,475 crore in August)...
UPI surges to Rs 20.64 lakh cr in value in Sep, transactions jump to 15.04 billion
UPI surges to Rs 20.64 lakh cr in value in Sep, transactions jump to 15.04 billion
Source: IANS
2024-10-01 01:43:56 pm
India payments authority inks deal to develop payments system for Trinidad and Tobago The overseas arm of India's National Payments Corporation of India (NPCI) will build a digital payments system for Trinidad and Tobago, modelled after India's United Payments Interface (UPI), according to a statement on Friday. The NPCI International Payments Limited (NIPL) said its deal with the Ministry of Digital Transformation of Trinidad and Tobago is to build a payments platform for both person-to-person and person-to-merchant transactions. The NPCI, a quasi-regulator unde...
India payments authority inks deal to develop payments system for Trinidad and Tobago
India payments authority inks deal to develop payments system for Trinidad and Tobago
Source: Reuters
2024-09-27 04:41:14 pm
UPI transactions rise 41 pc to touch record 14.96 billion in August: NPCI  The Unified Payments Interface (UPI) saw 41 per cent growth (year-on-year) at record 14.96 billion transactions in the month of August, as total transaction amount touched Rs 20.61 lakh crore -- a 31 per cent YoY growth, the National Payments Corporation of India (NPCI) data showed on Sunday.  The average daily transaction amount stood at 483 million last month, as average daily transaction amount reached Rs 66,475 crore. The value of UPI transactions processed has remained a...
UPI transactions rise 41 pc to touch record 14.96 billion in August: NPCI
UPI transactions rise 41 pc to touch record 14.96 billion in August: NPCI
Source: IANS
2024-09-01 11:25:12 am
AePS-based transactions touch 100 million in August, IMPS sees 12 pc growth The Aadhaar Enabled Payment System (AePS) based financial transactions touched 100 million in the month of August, with transaction amount stood at Rs 24,676 crore, the National Payments Corporation of India (NPCI) data showed on Sunday.  According to the data, average daily transaction count was 3.21 million, with Rs 796 crore as average daily transaction count. In July, the AePS-based interoperable financial transactions were 97 million, at Rs 24,218 crore. While the average dail...
AePS-based transactions touch 100 million in August, IMPS sees 12 pc growth
AePS-based transactions touch 100 million in August, IMPS sees 12 pc growth
Source: IANS
2024-09-01 11:10:25 am
UPI processed Rs 81 lakh cr worth transactions in April-July, up 37 pc YoY Surpassing world’s leading digital payments platforms, India’s Unified Payments Interface (UPI) processed nearly Rs 81 lakh crore transactions in the April-July period this year, which is a staggering 37 per cent increase (year-on-year).  According to latest data by global payments hub Paysecure, UPI processed 3,729.1 transactions per second — a 58 per cent surge over the?2,348 transactions every second registered in 2022— surpassing China’s Alipay, Paypa...
UPI processed Rs 81 lakh cr worth transactions in April-July, up 37 pc YoY
UPI processed Rs 81 lakh cr worth transactions in April-July, up 37 pc YoY
Source: IANS
2024-08-31 10:08:48 am
India`s fintech industry received record $31 bn investment in last 10 years: PM NarendraModi  India's fintech revolution is improving financial inclusion as well as driving innovation and in the last 10 years, the industry has received a record investment of more than $31 billion, along with witnessing a startup growth of 500 per cent, Prime Minister Narendra Modi said on Friday.   Addressing the 'Global Fintech Fest (GFF) 2024' in the country's financial capital, PM Modi highlighted affordable mobile phones, inexpensive data, and Jan Dhan Bank accounts, ...
India`s fintech industry received record $31 bn investment in last 10 years: PM NarendraModi
India`s fintech industry received record $31 bn investment in last 10 years: PM NarendraModi
Source: IANS
2024-08-30 03:31:17 pm
NPCI working on model to identify mule accounts: Ajay Kumar Choudhary  As financial crime and fraud surge in the country, the National Payments Corporation of India (NPCI) is working on advanced technologies to identify and curb "money mule" accounts and a pilot run is underway, Ajay Kumar Choudhary, non-executive chairman and independent director of NPCI, said on Thursday.  Mule accounts are owned by people who are duped by fraudsters into laundering stolen/illegal money via their bank accounts. When such incidents are reported, the &quo...
NPCI working on model to identify mule accounts: Ajay Kumar Choudhary
NPCI working on model to identify mule accounts: Ajay Kumar Choudhary
Source: IANS
2024-08-29 04:26:00 pm
UPI transactions likely to touch 100 billion mark in next 10 years: NPCI chief The country's Unified Payments Interface (UPI) has the potential to touch 100 billion transactions in the next 10-15 years backed by credit growth, according to Dilip Asbe, CEO of National Payments Corporation of India (NPCI).  "We are looking at 100 billion transactions in the next 10-15 years which is a fairly achievable number. And, credit is going to be the backbone of this growth," Asbe said at the Global Fintech Fest here. He pointed out that credit has already ...
UPI transactions likely to touch 100 billion mark in next 10 years: NPCI chief
UPI transactions likely to touch 100 billion mark in next 10 years: NPCI chief
Source: IANS
2024-08-29 12:21:29 pm
Private US banks can embrace UPI for faster digital payments: Fed Reserve Governor  As the Unified Payments Interface (UPI) goes global, the US private banks might explore connecting with India’s unique digital payments solution, Federal Reserve Governor Christopher Waller said here on Wednesday, adding that cross-border payment interlinking is one of the key areas outlined in the G20 roadmap.  Speaking at the 'Global Fintech Fest' in the financial capital, he said the US does not have enough banks connected to make a full-service product but &ldq...
Private US banks can embrace UPI for faster digital payments: Fed Reserve Governor
Private US banks can embrace UPI for faster digital payments: Fed Reserve Governor
Source: IANS
2024-08-28 02:14:05 pm
UPI booster: Now withdraw money instantly from stock market on INDmoney Money management startup INDmoney on Thursday announced UPI-based instant withdrawals for investors from their stock trading accounts on its platform.  The feature enables users to withdraw their funds into their savings accounts instantly, even if they are trading on the same day, addressing a key problem for stock investors while boosting liquidity by ensuring real-time trade settlements. The feature allows investors to withdraw money up to Rs 1 lakh on the same day. Investors wi...
UPI booster: Now withdraw money instantly from stock market on INDmoney
UPI booster: Now withdraw money instantly from stock market on INDmoney
Source: IANS
2024-08-22 02:27:21 pm
Swiggy integrates UPI for in-app payment in 5 seconds Online food delivery platform Swiggy on Wednesday announced the launch of 'Swiggy UPI', integrating National Payments Corporation of India’s (NPCI) digital payments solution to deliver faster in-app experience for customers.  Users can now complete UPI transactions without leaving the Swiggy app, reducing the payment process from five steps to just one, the food aggregator said in a statement. “This feature aligns with Swiggy’s mission to enable unparallel...
Swiggy integrates UPI for in-app payment in 5 seconds
Swiggy integrates UPI for in-app payment in 5 seconds
Source: IANS
2024-08-14 02:03:21 pm
Karnataka Bank rises on launching Credit Line on UPI The Karnataka Bank is currently trading at Rs. 217.80, up by 1.60 points or 0.74% from its previous closing of Rs. 216.20 on the BSE. The scrip opened at Rs. 217.00 and has touched a high and low of Rs. 218.65 and Rs. 215.80 respectively. So far 23795 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 286.35 on 20-Jan-2024 and a 52 week low of Rs. 192.25 on 04-Jun-2024. Last one week high and low of the scrip stoo...
Karnataka Bank rises on launching Credit Line on UPI
Karnataka Bank rises on launching Credit Line on UPI
Source: Accord Fintech
2024-08-14 10:00:25 am
Indian fintech industry to reach $420 billion by 2029, target 1 billion UPI transactions per day: NPCI The Indian fintech industry is projected to reach $420 billion by 2029, at a cumulative annual growth rate of 31 per cent from around $110 billion this year, Ajay Kumar Choudhary, non-executive chairman and independent director, the National Payments Corporation of India (NPCI) said on Thursday.  Speaking to IANS on the sidelines of Assocham's second 'India International Fintech Festival' in the national capital, Choudhary said the Unified Payments Interface (UPI) has gone...
Indian fintech industry to reach $420 billion by 2029, target 1 billion UPI transactions per day: NPCI
Indian fintech industry to reach $420 billion by 2029, target 1 billion UPI transactions per day: NPCI
Source: IANS
2024-07-18 04:59:24 pm
Indians travelling to Qatar will soon be able to make UPI payments NPCI International Payments Ltd (NIPL), the international arm of the National Payments Corporation of India (NPCI), on Thursday signed an agreement with QNB, the largest financial institution in the Middle East and Africa, headquartered in Qatar, to launch QR code-based Unified Payments Interface (UPI) payments across the Gulf nation.  This will enable UPI payment acceptance in Qatar through the QNB merchant network, benefiting Indian travellers visiting and transiting through the cou...
Indians travelling to Qatar will soon be able to make UPI payments
Indians travelling to Qatar will soon be able to make UPI payments
Source: IANS
2024-07-12 09:52:16 am
Users will be able to make UPI payments to UAE merchants now The Indian Government has been pushing UPI globally for faster digital payments. Now, UPI will be available in the Middle East country UAE as well.  NPCI International Payments Limited has partnered with Network International, a large digital commerce company in the Middle East and Africa for this. Now Indian travelers or NRIs in UAE will make Unified Payments Interface (UPI) payments through QR code through Point of Sale machines. NPCI International CEO Ritesh Shukla said that ...
Users will be able to make UPI payments to UAE merchants now
Users will be able to make UPI payments to UAE merchants now
Source: IANS
2024-07-04 12:23:06 pm
UPI transactions surge 49 per cent YoY at 13.89 billion in June The Unified Payments Interface (UPI)-based transactions reached 13.89 billion in June, surging 49 per cent on a year-on-year (YoY) basis, data by the National Payments Corporation of India (NPCI) showed on Monday.  The transaction volume in June stood at Rs 20.07 lakh crore, 1.9 per cent lower than Rs 20.45 lakh crore in May. On a YoY basis, the transaction volume surged 36 per cent. The average daily transaction amount reached Rs 66,903 crore while the average daily transaction...
UPI transactions surge 49 per cent YoY at 13.89 billion in June
UPI transactions surge 49 per cent YoY at 13.89 billion in June
Source: IANS
2024-07-02 09:56:43 am
RBI Governor discusses ways to scale up UPI ecosystem with stakeholders Reserve Bank of India (RBI) has said that its Governor Shaktikanta Das has discussed with banks and other stakeholders ways to scale up the UPI ecosystem, expand products and foster innovative payment solutions. UPI (Unified Payments Interface) is an instant real-time payment system developed by the National Payments Corporation of India (NPCI) to facilitate inter-bank transactions through mobile phones. It stated he held a meeting with major stakeholders in the UPI ecosystem - banks, NPCI...
RBI Governor discusses ways to scale up UPI ecosystem with stakeholders
RBI Governor discusses ways to scale up UPI ecosystem with stakeholders
Source: Accord Fintech
2024-05-09 10:51:17 am
ICICI Bank now lets NRIs use international numbers for UPI payments in India  ICICI Bank on Monday announced that it has enabled NRI (Non-Resident Indian) customers to use their international mobile number to make UPI payments instantly in India. This will allow the bank's NRI customers to make payments for their utility bills, merchant and e-commerce transactions with their international mobile number registered with their NRE/NRO bank account held with ICICI Bank in the country. "This launch reinforces our commitment to provide our NRI customers ...
ICICI Bank now lets NRIs use international numbers for UPI payments in India
ICICI Bank now lets NRIs use international numbers for UPI payments in India
Source: IANS
2024-05-07 09:59:22 am
NPCI partners Bank of Namibia to develop UPI-like payment system NPCI International Payments Limited (NIPL), the international arm of the National Payments Corporation of India (NPCI), on Thursday said that it partnered with the Bank of Namibia (BoN) to support them in developing a Unified Payment Interface (UPI)-like instant payment system for the country. The partnership aims to assist Namibia modernise its financial ecosystem by leveraging India's UPI technology and experience. This includes improving accessibility, affordability, connectivity wi...
NPCI partners Bank of Namibia to develop UPI-like payment system
NPCI partners Bank of Namibia to develop UPI-like payment system
Source: IANS
2024-05-02 05:42:46 pm
RuPay Unveils 'Link it, Forget it' Campaign at IPL 2024 to Promote RuPay Credit Card on UPI National Payments Corporation of India (NPCI) unveils ‘RuPay – Link it, Forget it’ campaign at Indian Premier League (IPL). Conceptualized by DDB Mudra Group, the campaign aims at increasing awareness about RuPay Credit cards which can be linked to a UPI ID, thus directly enabling safe, and secure payments. With the introduction of RuPay Credit Card on UPI, the concept of purposely leaving the physical wallet isn't just a convenience; it's becoming a lifestyl...
RuPay Unveils 'Link it, Forget it' Campaign at IPL 2024 to Promote RuPay Credit Card on UPI
RuPay Unveils 'Link it, Forget it' Campaign at IPL 2024 to Promote RuPay Credit Card on UPI
Source: PR Agency
2024-04-19 08:46:03 am
Paytm accelerates user migration to PSP Banks with NPCI approval One 97 Communications Limited (OCL) which owns the brand Paytm, India’s leading payments and financial services company and the pioneer of QR, soundbox and mobile payments, received go ahead, on Tuesday from the National Payment Corporation of India (NPCI) to start the user migration to new Payment System Provider (PSP) bank handles immediately. Following NPCI's approval on March 14, 2024, to onboard OCL as a Third Party Application Provider (TPAP) on the Multi Payment Service Pr...
Paytm accelerates user migration to PSP Banks with NPCI approval
Paytm accelerates user migration to PSP Banks with NPCI approval
Source: IANS
2024-04-18 09:40:38 am
Former Paytm, NPCI, and UIDAI CXO Sanjay Saxena Joins CIFDAQ as Co-Founder and CEO, India and South East Asia (SEA) Operations CIFDAQ Blockchain Ecosystem Ind Limited, a Fintech New Age Blockchain company dedicated to transforming the blockchain landscape through its pioneering approach to crafting a scalable, comprehensive artificial. Intelligence-powered blockchain ecosystem for enhanced security in exchanges and MPC wallets, we proudly welcome Sanjay Saxena as Co-Founder and CEO, India and South East Asia (SEA) Operations.   Sanjay Saxena brings with him a wealth of expertise an...
Former Paytm, NPCI, and UIDAI CXO Sanjay Saxena Joins CIFDAQ as Co-Founder and CEO, India and South East Asia (SEA) Operations
Former Paytm, NPCI, and UIDAI CXO Sanjay Saxena Joins CIFDAQ as Co-Founder and CEO, India and South East Asia (SEA) Operations
Source: PR Agency
2024-04-16 03:16:54 pm
NPCI grants approval to One97 Communications Limited to participate in UPI as a Third-Party Application Provider under multi-bank model National Payments Corporation of India (NPCI) has today granted approval to One97 Communications Limited (OCL) to participate in UPI as a Third-Party Application Provider (TPAP) under multi-bank model. Four banks (Axis Bank, HDFC Bank, State Bank of India, YES Bank) shall act as PSP (Payment System Provider) banks to OCL. YES Bank shall also be acting as merchant acquiring bank for existing and new UPI merchants for OCL. “@Paytm” handle shall be redirected to YES Bank. This wil...
NPCI grants approval to One97 Communications Limited to participate in UPI as a Third-Party Application Provider under multi-bank model
NPCI grants approval to One97 Communications Limited to participate in UPI as a Third-Party Application Provider under multi-bank model
Source: PR Agency
2024-03-15 12:36:30 pm