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.
Ahmedabad Municipal Corporation has made it mandatory to accept digital mode of payments through Unified Payment Interface (UPI) and other platforms. Following this new order, Cash on Delivery (COD) will not be permissible from May 15 making it mandatory for home delivery payments to be cashless.
An increase in digital payments in India during the Coronavirus lockdown will benefit 4G/mobile penetration
The nationwide lockdown has benefited digital payment platforms as 42 per cent Indians have increased the use of digital means for payments in the last three weeks, a report said.
In spite of the whole nation being confined indoors due to the Covid-19 lockdown with all the attendant curbs on movement, the same has not helped the e-commerce sector much as the online travel space, one of its biggest contributors, has virtually come to a halt, says a report.
Fintech major Paytm on Tuesday said it has witnessed a massive surge in digital payments as more people work from home, avoid venturing out and touching cash to stop the spread of coronavirus.
Cash-strapped Yes Bank has been put under moratorium by the Reserve Bank of India (RBI) and capped withdrawal limit for depositors to Rs 50,000 for at least a month, here's what a cash-strapped bank's customer must know.
Shops, business firms or companies with an annual turnover of Rs 50 crore or more and required to provide digital payment facilities to customers as part of government's stride towards a less-cash economy, will not have to pay any penalty till January 31 for not installing the system.
No MDR charges on transactions through RuPay cards and UPI payments will kill the digital payments industry, the Payments Council of India stated on Monday while criticising the government's move.
The Reserve Bank on Thursday proposed to introduce a prepaid payment instrument (PPI) that could be used only for transactions of goods and services worth up to Rs 10,000. PPIs have been playing an important role in promoting digital payments and bringing in the new PPI will further facilitate its usage, as per an RBI statement issued post announcement of the monetary review on Thursday.
The latest security incident around WhatsApp could have a bearing on the launch of its digital payment services in India as these systems need to be "fool-proof", a senior government official said.
The UPI platform was launched before demonetisation in 2016 and has taken digital payment to a new height. Users across the globe can transfer money online without entering their bank account number.
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