digital payment

Digital Payment News

Finally, cash loses the king status, first time in 20 years!

Currency circulation in the country declined during the recently concluded Diwali. This has happened for the first time in 20…

November 3, 2022 12:31 IST

Offline Digital Payments: Challenges, role, and its impact

Offline Digital Payments: Challenges, role, and their impact

Earlier this year, RBI introduced Offline Payments after receiving encouraging feedback from the pilot experiments.

September 11, 2022 08:30 IST

digital economy, data flow, IPEF, Indo-Pacific Economic Framework

IPEF to focus on uniform standards on digital economy, data flow

First in-person ministerial of Indo-Pacific Economic Framework (IPEF) grouping kicks off in the US

September 10, 2022 01:45 IST

digital lending, rbi on digital lending, consumer interest in digital lending,

Need to balance innovation, consumer interest in digital lending : RBI Dy Gov

While digital lending has gathered pace in recent times and changed the nature of banking, consumer protection is necessary from…

September 9, 2022 00:15 IST

rbi, digital loan, loan, digital lenders, digital lending norms, hawala transactions,

Your Money: Five steps to steer away from loan traps

The RBI recently tightened digital lending norms. Customers also have to keep away from rogue lenders

September 5, 2022 00:45 IST

loans, digital lending, digital lending norms, digital lending regulations, rbi on digital lending

Existing loans must comply with new digital lending norms by November

The regulator reiterated that outsourcing arrangements entered into by REs with a lending service provider (LSP) or digital lending app…

September 3, 2022 00:45 IST

Hyundai partners IOC and Park+ to roll out In-App service through Bluelink

Hyundai aims to regularly introduce new services to provide utmost convenience to customers.

September 2, 2022 19:04 IST

This MDR may be reset for the entire industry, once in a year, at the beginning of a financial year based on the average lending rate of a few large banks during the last financial year, the paper said. It sought comments on whether MDR and interchange on credit cards should be regulated by the RBI.

RBI wants stakeholders’ feedback on UPI MDR

The discussion paper said there is good reason for the RBI to regulate MDR on credit card transactions, which are…

August 18, 2022 06:00 IST

Digital lending apps operating without either a banking or an NBFC licence, will now be either forced to shut shop or suspend operations indefinitely until they are compliant with the new regulations.

Lenders may see rise in compliance costs: Digital lending norms to make industry responsible, cautious

“Unregulated entities or a small section of the loan apps that may be rogue players will have to course correct…

August 12, 2022 03:15 IST

"The concerns primarily relate to unbridled engagement of third parties, mis-selling, breach of data privacy, unfair business conduct, charging of exorbitant interest rates, and unethical recovery practices," the RBI said in the final guidelines.

RBI issues strict norms for digital lending space

Such loans to be routed only through accounts of regulated lenders

August 11, 2022 06:15 IST

Digital lending to answer credit demand in India’s Tier-2 towns

The emergence of digital apps and platforms, as well as the onset of the COVID-19 pandemic, has aided this transformation…

July 30, 2022 15:06 IST

“The RBI-DPI Index continues to demonstrate significant growth in adoption and deepening of digital payments across the country,” the central bank said in a press release.

RBI’s digital payments index at 349.30 in March 2022

The central bank had developed the composite RBI-DPI with March 2018 as the base year to assess the extent of…

July 28, 2022 03:20 IST

Digital payments record 29% annual growth at March-end 2022, shows RBI data

The newly constituted RBI’s digital payment index stood at 349.3 in March 2022 against 304.06 in September 2021 and 270.59…

July 27, 2022 19:53 IST

It will replace the actual card details with an alternate code which will be specific to the card and online merchant. Tokenisation will be an additional layer of security for all online transactions.

Card payments: Card tokenisation makes online payments safer

The RBI had mandated that after December 31, 2021, entities other than card networks and card issuers cannot store data.

July 18, 2022 01:15 IST

A circular could be out as early as next week, one of them said.

Norms for digital lending, BNPL likely in this month; circular could be released next week

Data indicate that BNPL lenders seem less focused on driving credit inclusion than anticipated earlier, says a report

July 9, 2022 01:30 IST

India moves to leadership position in large-value digital payment system: RBI report

India was categorised as a ‘leader’ or ‘strong’ in respect of 25 (21 in the previous exercise) out of 40…

July 1, 2022 21:36 IST

The registered customer base for mobile-based transactions is to grow 50% on a compound annual growth rate (CAGR) and cash in circulation (CIC) as a percentage of GDP is to be reduced.

Vision Document: RBI sees digital payment transactions trebling by 2025

The vision document took note of the proliferation of Buy Now, Pay Later (BNPL) services which, it said, has developed…

June 18, 2022 03:45 IST

RBI Payments Vision 2025 aims 3-fold increase in digital payments

As per the document, the expected outcomes include volume of cheque-based payments to be less than 0.25 per cent of…

June 17, 2022 21:00 IST

Know the pitfalls of missing your EMIs

On delaying an EMI, the bank will charge you a penalty and your credit score will be adversely affected

Updated: June 3, 2022 10:44 IST

The Internet of Things, 5G connectivity and the launch of a central bank digital currency will provide further impetus to growth, according to the report.

Digital payments value to grow threefold to $10 trillion by 2026: Report

As a result of this unprecedented growth, digital payments will constitute two out of every three payment transactions by 2026,…

June 3, 2022 00:15 IST

Digital payments, digital transactions, digital economy

Cash no longer the king: 65% transactions to be digital by 2026, says BCG-PhonePe report

India’s digital payments market is at an “inflection point” and is expected to more than triple, the report said.

June 2, 2022 15:17 IST

Apple switches from card payments to UPI, net banking for subscriptions, store payments as RBI rules close in

US-based tech firm Apple also said it will no longer store card information of Indian users on its file.

May 19, 2022 14:31 IST

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Latest News

RBI, Reserver Bank of India, moot light, light payment system

RBI moots light payment system

The portable system is seen as a “bunker equivalent” in payment systems and will process transactions that are critical to…

By Ajay Ramanathan

Money

May 31, 2023 06:30 IST

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Firm may respond in 3-6 months: Govt asks Tesla to submit road map for vendor base

Officials aware of the development said that Tesla is expected to get back with its detailed India plan, outlining the time it…

By Prasanta Sahu

Express Mobility

May 31, 2023 06:00 IST

IIT Madras Research Park, RBI’s innovation centre working on voice-banking technologies

The objective is to address the language barriers, a key challenge in financial inclusion for millions of Indians.

By FE Bureau

Banking & Finance

May 31, 2023 05:45 IST

ONDC, Open Network for Digitial Commerce

ONDC caps incentive at Rs 100 per order

The scheme comprises incentives for onboarding of new sellers onto the network and also for boosting transactions by incentivisng buyers.

By FE Bureau

Industry

May 31, 2023 05:30 IST

Valuation cuts continue to plague unicorn startups

FE reported last month that domestic VC and private equity firms in India have been successful in attracting multi-million-dollar investments…

By Salman SH

Industry

May 31, 2023 05:15 IST

Explainer: Sebi’s plan to cut IPO listing to 3 days

Sebi has been striving to shorten the time duration from issue closure to listing.

By Ashley Coutinho

IPO

May 31, 2023 05:15 IST

Stick to the knitting

RBI shouldn’t allow payments banks to lend; their licensing terms do not allow that

By The Financial Express

Opinion

May 31, 2023 04:30 IST

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Make quality a priority

A universal-Access push alone won’t yield the outcomes India desires from its healthcare ecosystem

By guest

Opinion

May 31, 2023 04:15 IST

infrastructure growth, economic growth, trade and commerce,

Financing infrastructure growth

The Adani-Hindenburg fiasco shows how the impact of such events can potentially be system-wide, with retarding effects on the credit-flow…

By guest

Opinion

May 31, 2023 04:00 IST

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Vedanta parent pledges 4.4% to rival Glencore for $250 mn

VRL, Westglobe, Richter Holding and FICL are members of the promoter group of Indian mining major Vedanta.

By Rajesh Kurup

Industry

May 31, 2023 03:30 IST

Stock Market

Photos

IPL 2023: CSK’s glorious win over GT, Dhoni’s heart-breaking retirement remark – This Finale had it all! See Photos

20 hours agoMay 30, 2023

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Colourful lights, laser show illuminate new Parliament building – See Stunning Photos

2 days agoMay 29, 2023

Wrestlers, Vinesh Phogat, Sakshi Malik, Bajrang Punia, Protesting Wrestlers, Delhi police, Photo gallery

Forceful end to protest? Wrestlers trying to march to new Parliament detained by Delhi Police | See Photos

3 days agoMay 28, 2023