The activities to be taken up during the period up to 2025 as part of Vision 2025 are captured across five anchor goalposts of integrity, inclusion, innovation, institutionalisation and internationalisation, the Payments Vision 2025 document said.
Contactless payments have gone up by more than 6 times, from less than 2.5 per cent in December 2018 to 16 per cent in December 2021, according to a whitepaper by Visa and Worldline India.
UPI payment via credit card: Till now, only debit cards connected to savings bank accounts and current accounts are allowed to link up to the UPI platform.
It may be inconvenient to have to wait 10 seconds for your OTP when making online payments. This, however, is one of the most secure authentication methods available to consumers.
A 40-year-old man who asks for alms at Bettiah Railway Station in Bihar gives people options to pay him via digital mode. He also carries a digital tablet with him to check if the payments are received in his e-wallets.
Ashneer Grover's inimitable style on the business reality show Shark Tank India has made him a popular meme material for the internet. We look at the beginning of the BharatPe co-founder and track his journey to national fame.
Entities involved in providing digital payment services incur costs, which are generally recovered from the merchant or customer or is borne by one or more of the participants.
PayNow is the fast payment system of Singapore which enables peer-to-peer funds transfer service.
With nearly 70% population living in rural parts of the country and many who migrated to urban centres too facing huge pay disparity, there is little empowerment of those hailing from the interiors of the country.
Prime Minister Narendra Modi on Monday launched e-RUPI, an electronic voucher-based digital payment system. e-RUPI is a cashless and contactless instrument for digital payment. It gets delivered to the mobile phones of beneficiaries through a QR code or SMS string.
PM Modi has always championed digital initiatives. Over the years, several programmes have been launched to ensure that the benefits reach its intended beneficiaries in a targeted and leak-proof manner, with limited touch points between the government and the beneficiary.
From April 1, the company will focus all its attention on enabling more international sales for Indian businesses, and shift focus away from its domestic products in India.
FM Nirmala Sitharaman said that Rs 1,500 cr earmarked for scheme to incentivise digital payments
Google Pay is among the ones that are widely used to complete digital payment transactions. Here's a list of all the banks that Google Pay supports with their UPI transaction limit and UPI daily limit for digital transactions.
The report further said UPI as a digital payments platform increases efficiency towards tax compliance, and provides overall convenience for public good.
To take highly popular Unified Payments Interface (UPI), RuPay to more countries, the National Payments Corporation of India (NPCI) has announced the launch of a subsidiary for its international growth ambitions.
After Brazil suspended newly launched WhatsApp’s payments service to “preserve competitive environment” just after a week of its launch, the Facebook-owned messaging platform said it is committed to launching the digital payment service in India, a process that has been in the works since over two years now.
Fintech major MobiKwik on Sunday said it expects to get back to growth trajectory around August-September as digital transactions pick up at offline retailers, and demand in categories like travel returns.
Not allowing delivery agents to enter, going digital with payments, accommodating vendors inside premises and monitor entries of residents are among the to-do things for gated communities in the unlock phase.
Almost half of Indian consumers are more concerned about digital payments fraud now than when COVID-19 first emerged, said a survey on Wednesday. Nearly one third have been recent victims of card or digital payments fraud or know someone among their immediate family or friends who has, said the study conducted by YouGov and US-based electronic payments company ACI Worldwide.
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