Page 19 of UPI

Harish Prasad, head of Banking, FIS, said that banks’ issuance of debit cards had seen significant growth over the last five to seven years, reaching 935 million outstanding cards as of February 2022. This may now start to flatten out as a consequence of high UPI use for merchant payments and saturation in card issuances.

Debit card usage to drop as RBI pushes for UPI-based cash withdrawals

At Rs 1.63 trillion, the value of merchant UPI transactions in February 2022 was well above the value of debit…

April 18, 2022 06:15 IST

WhatsApp allowed to expand UPI user base to 100 million, says NPCI

The UPI payments feature had gone live on the Meta-owned Whatsapp in November 2020 for 20 million users; the cap…

April 13, 2022 23:50 IST

PhonePe says it crossed 100 million transactions a day; processes over 2.5 billion transactions a month

Ease of Doing Business for MSMEs: Founded in December 2015, PhonePe said it has more than 370 million registered users…

April 13, 2022 13:24 IST

Retail investors can use UPI for up to Rs 5 lakh payment in IPOs

The regulator has also asked investors to submit their UPI ID in the bid-cum-application form, submitted with the brokers, or…

April 6, 2022 05:30 IST

Individual investors can use UPI for up to Rs 5 lakh payment in public issues

Also, they have been asked to provide their UPI ID in the bid-cum-application form submitted with any of these entities…

April 5, 2022 17:48 IST

A case in point is One97 Communications, or Paytm, which derives around two-thirds of its consolidated operating revenue from payment business gross merchandise value (GMV).

Fintech firms hit: Rising UPI payments eat into banks’ and fintech firms’ incomes

Payments players are also looking forward to the Reserve Bank of India’s (RBI) working group recommendations on transaction charges which,…

April 4, 2022 04:20 IST

There is a need for an alternative to ensure a broader multipolarity in the standards conversation—this alternative can be provided by India.

Tech standards: India’s chance to lead

India can take several strategic actions to position itself as a leader on digital public goods standards

April 4, 2022 04:00 IST

“It is pertinent to note that UPI P2M transactions have significantly eaten into the share of card and other payment modes,” Worldline said in a recent report. The share of merchant transactions in overall UPI payments was at 42% in February 2022 in volume terms and under 20% in value terms.

UPI transactions cross $1-trillion mark in FY22

As on March 29, the value of UPI transactions for the year added up to Rs 83.45 trillion, which works…

Updated: April 2, 2022 12:29 IST

Industry found RBI’s draft NUE framework premature, shows RTI response

While at least one organisation questioned the wisdom of licensing NUEs in the absence of a policy for licensing of…

March 23, 2022 01:00 IST

It will enable transactions of up to Rs 200 at a time with wallet balances capped at Rs 2,000.

NPCI nearing pilot launch of wallet-based UPI payments

In a circular dated March 16, NPCI told UPI member banks that UPI Lite shall be launched as a pilot…

March 18, 2022 01:15 IST

However, eagerness to implement innovative payments systems has been found lacking among incumbents, especially banks.

Take UPI to the last mile: Banks must fast-track innovative payments

Delay in starting cardless on-boarding for UPI mystifying

March 17, 2022 02:15 IST

UPI 123PAY: How the good old feature phone will spur digital payments among micro enterprises

Credit and Finance for MSMEs: According to the RBI, there are more than 40 crore feature phone users in the…

Updated: March 21, 2022 12:58 IST

Missed deadlines: UPI on-boarding based on Aadhaar OTP may be delayed

Another extension of the timeline by a few months is likely

March 15, 2022 08:19 IST

As bulk of the UPI transactions are small-ticket, UPI123Pay can transform the digital payment system.

Data Drive: Up, up and UPI…

Transaction through the Unified Payments Interface platform has picked up pace after the Covid-induced lockdown in March 2020; the volume…

March 14, 2022 03:30 IST

RBI launches UPI payments for 40 crore feature phone users

RBI governor Shaktikanta Das said India’s digital economy has flourished over the past few years.

March 9, 2022 06:20 IST

UPI for non-smartphones: RBI launches UPI 123Pay for instant digital payments using feature phones

RBI Deputy Governor T Rabi Sankar said he is certain UPI for feature phones will be a gamechanger and put…

Updated: March 8, 2022 14:16 IST

Value of UPI transactions declined to Rs 8.27 lakh crore in Feb: NPCI data

There were a total of 452 crore (4.52 billion) transactions in February 2022.

March 1, 2022 18:03 IST

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