PhonePe users can now pay via NEOPAY terminals in UAE
Indian payment platform PhonePe App users travelling to the UAE can now make payments using UPI at Mashreq’s NEOPAY terminals, available across retail stores, dining outlets, as well as tourist and leisure attractions.
India's UPI is now accepted in Nepal
NPCI International Payments Ltd (NIPL), the international arm of National Payments Corporation of India (NPCI) and Fonepay Payment Service Ltd, Nepal’s payment network, have announced that Unified Payment Interface (UPI) is now live for cross-border transactions between India and Nepal.
Google Pay signs MoU with NPCI to expand UPI outside India
Google India Digital Services (P) Limited and NPCI International Payments Ltd (NIPL), a wholly-owned subsidiary of the National Payments Corporation of India (NPCI), have signed a Memorandum of Understanding (MoU) to expand the transformative impact of UPI to countries beyond India.
As India surges ahead in digital payments, US plays catch-up
Gene Bradford opens up his shop, West Main Auto Repair, each morning at 8 a.m in Lexington, Georgia (USA). He’s lived in the small, close-knit community of Oglethorpe County for years now, and has come to know his customers’ personalities, mannerisms – and preferred forms of payment.
UPI transactions in Dec 2023 touch Rs 17.4 lakh cr: RBI Bulletin
Mumbai: The UPI transactions reached a cumulative value of Rs 17.4 lakh crore in December 2023 according to the Reserve Bank of India's monthly bulletin.
Total digital payment transactions jump at a CAGR of 45 % to Rs 13,462 crore in FY23
New Delhi: India’s total digital payment transactions volume increased from Rs 2,071 crore in FY 2017-18 to 13,462 crore in FY 2022-23 at a CAGR of 45 percent.
RBI raises UPI transaction limit for hospitals, educational institutions to Rs. 5 lakh
New Delhi/IBNS/UNI: In a significant step, the Reserve Bank of India (RBI) on Friday announced the raise of the Unified Payments Interface (UPI) transaction limit for hospitals and educational institutions to Rs. 5 lakh, media reports said.
UPI IDs not used for one year to be disabled soon
New Delhi: The National Payments Corporation of India (NPCI), which oversees the Unified Payments Interface (UPI), has directed banks and payment applications like Google Pay, Paytm, PhonePe, etc., to disable UPI IDs and numbers associated with customers who have not conducted any transactions for a period of one year or longer.
Aditya Birla Capital Digital launches Payment Lounge for merchants
Aditya Birla Capital Digital Limited, the wholly owned subsidiary company of Aditya Birla Capital Limited, has introduced Payment Lounge, an omni-channel, multi-mode collections platform to enable merchants a platform for making digital payments.
Bank of Baroda enables UPI ATM facility at over 6,000 ATMs across the country
Mumbai: Public sector lender Bank of Baroda on Friday announced that it has enabled the UPI ATM facility at over 6,000 Bank of Baroda ATMs across the country.
NPCI launches new UPI products to achieve 100 bn monthly transactions
New Delhi: The National Payments Corporation of India (NPCI) on Wednesday announced a string of innovative products aimed at boosting the payments giant Unified Payments Interface (UPI) to reach 100 billion monthly transactions.
"India’s fast-payment system, called the Unified Payments Interface (UPI) and run by the nonprofit National Payments Corporation of India, exemplifies how the regulator (for example, the central bank) and the regulated (for example, commercial banks) can together run a payment system as a voluntary digital public infrastructure that operates around the clock." - IMF
UPI crosses 10 billion monthly transactions in Aug; PM Modi congratulates
New Delhi: India’s contactless digital payments framework, Unified Payments Interface (UPI), crossed 10 billion monthly transactions in August, said Reserve Bank’s non-profit agency, National Payments Corporation of India (NPCI) on Friday.
India and New Zealand explore adoption of UPI to biz, boost trade & tourism
New Delhi: India and New Zealand are actively considering the implementation of the Unified Payments Interface (UPI) in the island nation to enhance the ease of conducting business, trade, and tourism interactions between the two countries, the Commerce Ministry said on Tuesday.
Canara Bank launches UPI Interoperable Digital Rupee Mobile Application
Canara Bank launches, UPI Interoperable Digital Rupee mobile application as a part of the Reserve Bank of India's Central Bank Digital Currency (CBDC) pilot project.