The NPCI is likely to review its decision to implement a 30 per cent cap on the market share of payment players offering Unified Payments Interface (UPI) services by the end of 2024, reported Business Standard. As of now, the deadline to bring this change remains unchanged i.e., December 2024. “There is still time for …
While the Unified Payments Interface (UPI) has become a part of our everyday life, there’s one limitation that hinders the user experience — not being able to use the money in your online wallet to make UPI transactions to web or mobile application other than that provided by the prepaid payment instrument (PPI) issuer. Thanks …
With the Unified Payments Interface (UPI) having gained massive popularity for an array of transactions, depositors will soon be able to use this phone banking interface service to deposit cash at cash deposit machines (CDMs) at ATMs and bank branches. Although it is a natural progression in the continuum of fintech evolution we are all …
Nilesh Choudhary, CEO & Founder of Aikyam Capital Investors, emphasizes the game-changing impact of UPI for Non-Resident Indians (NRIs). He highlights the ease of sending funds for critical and immediate needs like healthcare and education, even from thousands of miles away. Traditionally, NRIs have relied on various methods to send money back to India, each …
India’s UPI (Unified Payments Interface) is now available internationally. India has partnered with as many as seven countries so far to accept payments online by scanning a QR code via BHIM and other third-party apps like GPay, PhonePe, and PayTM. This enables users to directly convert money to the local currency within the app, eliminating …
The Unified Payments Interface (UPI) is a real-time payment system designed to enable peer-to-peer inter-bank transfers through a simple two-factor authentication process. India has emerged as one of the fastest-growing ecosystems for fintech innovation and the government and the central bank have been instrumental in driving the globalisation of India’s digital payment infrastructure. UPI has …
New UPI rules and regulations Payment apps like Google Pay and PhonePe are required to verify and maintain active UPI IDs, as the National Payments Corporation of India (NPCI) directs the deactivation of inactive UPI IDs after a year. The RBI has recently increased the UPI transaction limit for hospitals and educational institutions from Rs …
If you have a UPI (Unified Payments Interface) account with any of the popular apps such as Google Pay, Phone Pay or Paytm, and have not been able to use it for a year or longer for any reason whatsoever, then it is set to get deactivated from Jan 1 onwards. This will be done as …
The National Payments Corporation of India (NPCI) has started the process to deploy ‘UPI Tap and Pay’ across digital payment providers soon after the apex body released details on the feature’s roll out, reported Business Standard. Unified Payments Interface (UPI) members can go live with the UPI Tap and Pay functionality by January 31, 2024, …
ICICI Bank has recently announced the integration of its RuPay credit cards with UPI transactions in order to improve the convenience of payments for its customers. This integration allows ICICI Bank customers to effortlessly link their RuPay credit cards to UPI and make Person-to-Merchant (P2M) transactions both online and offline with ease and security. This …