Tagged: upi

December 29, 2023 @ 4:33 pm By Omar Faridi  |  

Akash Sinha, CEO & Co-Founder, Cashfree Payments, has shared key insights with CI that are focused around UPI, digital payments and the overall Fintech space. Akash Sinha from Cashfree Payments notes that even with global economic uncertainty, the fintech sector in India has “continued to… Read More

August 13, 2023 @ 5:24 am By Omar Faridi  |  

UnionPay International (UPI) and Payments Network Malaysia Sdn Bhd, or PayNet, Malaysia’s national payments network jointly signed an agreement in Shanghai in order to support “the cross-border QR code linkage and enable the full acceptance of the UnionPay App (Chinese-mainland, Hong Kong and Macao versions)… Read More

July 10, 2023 @ 7:01 pm By Omar Faridi  |  

PhonePe announced the launch of its Point-of-sale (POS) device that enables merchants to accept payments via Debit Cards, Credit Cards and UPI, providing them with a simple and seamless settlement experience. The device comes preloaded “with the PhonePe POS App and supports transactions through tap/swipe/dip and… Read More

April 29, 2023 @ 12:20 pm By Omar Faridi  |  

Alchemy Pay now supports India’s UPI domestic transfer payments for crypto purchases in India. By enabling users to pay by Unified Payments Interface, India’s domestic transfer system, it is possible for Indian bank account holders “to buy and sell cryptocurrency with the Indian rupee.” As a… Read More

April 28, 2023 @ 2:01 pm By Omar Faridi  |  

PPRO, the digital payments infrastructure provider, has signed a strategic agreement with NPCI International Payments Limited (NIPL) in order “to offer global partners access to Unified Payments Interface (UPI), India’s fastest-growing, real-time payment system, for cross-border transactions.” This latest agreement, “supported by a new framework… Read More

February 25, 2023 @ 6:35 pm By Omar Faridi  |  

Pine Labs, a merchant commerce omnichannel platform and Thomas Cook (India) Limited, India’s foreign exchange service provider, have partnered with National Payments Corporation of India (NPCI), in “a pioneering initiative to ensure safe, seamless, convenient merchant payments via UPI for foreign nationals from G20 countries.”… Read More

February 22, 2023 @ 5:31 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) and the Reserve Bank of India (RBI) launched the linkage between Singapore’s PayNow and India’s Unified Payments Interface (UPI). This will “enable customers of participating financial institutions in Singapore and India [1] to send and receive funds between bank… Read More

December 7, 2022 @ 10:51 pm By Omar Faridi  |  

What was once an innovation is today “a way of life” for millions of consumers in India. Over the last two and a half years, transactions on the UPI network have “grown by a factor of 6 as digital payments have exploded in India,” according… Read More

August 21, 2022 @ 5:27 pm By Omar Faridi  |  

NPCI International Payments Limited (NIPL), a wholly-owned subsidiary of National Payments Corporation of India (NPCI), the organization behind the largest real-time payment solution, the Unified Payments Interface (UPI) and the RuPay card Scheme, has  “signed an MoU confirming a partnership with the payments solutions provider… Read More

March 2, 2022 @ 11:47 pm By Omar Faridi  |  

Standard Chartered (LON: STAN) recently confirmed that it teamed up with the International Air Transport Association (IATA) to introduce IATA Pay in India. IATA Pay, which is available in several European markets, is an airline industry payment platform that provides optionality, convenience and an improved… Read More

December 21, 2021 @ 11:06 am By Omar Faridi  |  

UnionPay International (UPI) has introduced its SoftPOS (Point-of-Sale) solution for the first time using a payment tech that’s powered by SoftPOS provider, Soft Space. The SoftPOS solution will reportedly be launched in Malaysia and it’s expected to create various market opportunities for UPI to expand… Read More

November 1, 2021 @ 10:09 pm By Omar Faridi  |  

Unified Payment Interface, the easier way to transfer money from one bank in India to another, requires people to successfully complete the process of UPI registration. In order to do this, consumers need to create a unique UPI ID on any mobile payments app, like… Read More

September 13, 2021 @ 10:40 pm By Omar Faridi  |  

NPCI International Payments Ltd (NIPL), the global division of the National Payment Corporation of India, has teamed up with Liquid Group Pte. Ltd., a cross border payments provider, in order to support UPI QR-enabled payments acceptance in 10 different markets across North Asia and Southeast… Read More

March 23, 2021 @ 1:11 am By Omar Faridi  |  

Indian digital payments giant Paytm recently confirmed that its pleased to share that Paytm Payments Bank Ltd (PPBL) has been given approval for its @Paytm UPI handle from the Securities and Exchange Board of India (SEBI) to “enable fast and seamless payment mandates for IPO… Read More

January 18, 2021 @ 11:06 pm By Omar Faridi  |  

A third or around 33% of households in India are now using digital payments, with usage being evenly spread across different income groups, according to a survey performed by the National Payments Corporation of India (NPCI) and People Research on India’s Consumer Economy (Price). The… Read More

January 11, 2021 @ 10:23 pm By Omar Faridi  |  

Banking institutions and online payments providers in India have asked the nation’s government to bring back the Merchant Discount Rate (MDR) on RuPay, which is an international card payment service launched by the National Payments Corporation of India. Digital payments providers in the country also… Read More

November 6, 2020 @ 7:26 am By Omar Faridi  |  

Facebook (NASDAQ:FB) owned WhatsApp has reportedly received approval to introduce its digital payments services in India. The National Payments Corporation of India (NPCI), which is an umbrella organization for operating or managing retail payments and settlement systems in the country, has given WhatsApp the green… Read More

August 20, 2020 @ 10:45 pm By Omar Faridi  |  

The COVID-19 outbreak and nationwide lockdowns in India have forced many local residents to re-evaluate how they conduct business and manage their finances. An analysis performed by ETMoney reveals that the overall spend by India’s residents between March and June 2020 dropped by around 40%,… Read More

April 15, 2020 @ 11:29 am By Omar Faridi  |  

Google Pay was reportedly the most downloaded Fintech app (globally) during the month of February 2020 with 15.6 million downloads. It was closely followed by Indian digital payments firm PhonePe’s app which was downloaded 6 million times. For Google Pay, this is notably more than… Read More

March 26, 2020 @ 6:28 pm By Omar Faridi  |  

The National Payment Corporation of India (NPCI), a local, non-profit umbrella organization for operating retail payments and settlement systems in the country, has requested the nation’s residents to make digital payments in order to reduce physical contact during the deadly coronavirus (COVID-19) outbreak. The NPCI,… Read More