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Digital payments News

Reserve Bank of India

26 Jul 2024

India's Digital Payments Record Double-Digit Growth: RBI Data

The RBI-DPI comprises 5 broad parameters that enable the measurement of penetration of digital payments in the country over different time periods.

digital payments

29 Nov 2023

Soon You Can Revert Digital Transactions Over Rs 2,000 Within 4 Hours: Reports

However, experts raised alarm over the move saying that this may lead to fraud from buyers and may affect digital payments negatively as shopkeepers may become wary of taking payments digitally for amounts exceeding Rs 2,000

Vijay Shekhar Sharma

09 Aug 2023

From Humble Beginnings To Fintech Giant: Remarkable Story Of Paytm Creator

Vijay Shekhar Sharma's Inspirational Journey from Humble Beginnings to Fintech Giant From Aligarh to Billionaire: Vijay Shekhar Sharma's Roots Overcoming Language Barriers: Vijay Shekhar Sharma's Academic Journey Entrepreneurial Aspirations Awakened From Dot-Com to Digital Domination The Birth of Paytm One97 Communications E-Wallet Revolution in India

08 Nov 2022

6 years of demonetisation: Digital payments boom after demonetisation

The biggest decision related to the Indian economy was taken 6 years ago. Prime Minister Narendra Modi gave an address to the nation on 8 November 2022 at 9 pm, under which the old notes of 500-1000 rupees were announced to be discontinued.

digital payments

17 Oct 2022

'No more toffees instead of chhuttas': UPI attributed for killing candy sales

Kirana or dairy store often used to give toffees instead of loose cash This trick kept the toffee sales ticking and proved profitable for the shopkeepers as well However, with the digital payments, the need for loose cash have vanished

digital payments

27 May 2022

Mobcoder Is Unifying Uk High Streets With A Fintech App - Voilo

Voilo is a smartphone app that connects small businesses and charities with their consumers, allows them to accept payments from anywhere, and saves them up to 90% on transaction costs.

24 Apr 2022

Maan Ki Baat: Online payments are developing a digital economy, says PM Modi

“Now even in small towns and in most villages people are transacting through UPI itself. A culture is also being born in the country from Digital Economy,” PM Modi said.

Nirmala Sitharaman

19 Apr 2022

FM Nirmala Sitharaman vouches to regulate crypto at global level

Finance Minister said that as long as the non-governmental activity of the crypto assets was through unhosted wallets, the regulation was going to be very difficult. She said cross border payments between countries will become very effective through Central Bank-driven digital currencies. She said regulation using technology will have to be so adept.

13 Apr 2022

PM hails India in Pixels for explaining digital payments via data sonification

PM Modi lauded IIP for explaining digital payments via data sonification. IIP said UPI is truly a revolution.

Reserve Bank of India

26 Mar 2022

RBI releases framework for geo-tagging of payment system touch points

The infrastructure is focused on deepening of digital payments and providing inclusive access to all citizens of the country. "To achieve this objective, it is imperative that robust payment acceptance infrastructure is available and accessible across the length and breadth of the country," RBI said.

Reserve Bank of India

19 Jan 2022

Digital payments record 40% annual growth at Sep-end 2021: RBI data

The RBI-DPI comprises 5 broad parameters. The parameters enable measurement of deepening and penetration of digital payments in the country over different periods. The index is published on a semi-annual basis from March 2021 onwards with a lag of 4 months.

digital payments

15 Dec 2021

Cabinet approves Rs 1,300-crore scheme to promote UPI, Rupay

The scheme aims to give a further boost to digital transactions in the country. IT Minister Ashwini Vaishnaw announced the government’s decision on Wednesday. The minister also informed that in November, 423 crore digital transactions valued at Rs 7.56 lakh crore.

WhatsApp payments

27 Nov 2021

WhatsApp to double payments offering to 40 million users in India

In India's digital payments market, WhatsApp competes with Alphabet Inc's Google Pay, SoftBank and Ant Group-backed Paytm, and Walmart's PhonePe. WhatsApp has almost reached its user base of 20 million for payment services. Online transactions, lending and e-wallet services have been growing rapidly in India.

25 Nov 2021

NITI Aayog proposes to bring Digital Bank

Government think-tank Niti Aayog proposed setting up of full-stack 'digital banks', which would principally rely on the internet and other proximate channels to offer their services and not physical branches, to mitigate the financial deepening challenges being faced in the country

digital payments

05 Nov 2021

Nirmala Sitharaman shares video of UPI QR code on ox head

The video shows a person scanning the UPI QR code and transferring money to the account of Ox’s carrier. The video appears to be of Andra Pradesh or Telangana. These bulls are usually also trained for dancing or performing acrobatics to entertain the public and help owners earn a living.

20 Aug 2021

Want to transfer Rs 10 lakh? Here’s how to do it via Paytm

According to the RBI guidelines, the amount that can be transferred via digital payment method is limited to Rs 10,000 per month. Paytm allows users the option to transfer money by adding a beneficiary.

01 Aug 2021

PM Narendra Modi to launch new digital payment solution e-RUPI on August 2

The government is aiming to take forward the concept of the electronic voucher with a vision of good governance. Besides being a cashless and contactless instrument for digital payment, it is a QR code or SMS string-based e-voucher. It also ensures that the payment to the service provider is made only after the transaction is completed.

digital payments

07 Mar 2021

Tech giants eye India's burgeoning digital retail payments market

India's digital payments are quickly gaining ground as India's 1.3 billion people are starting to embrace online shopping India's smartphone user base is approaching one billion Unified Payments Interface (UPI) debuted in 2016 and set the digital payments arena afire.

03 Mar 2021

PayPal plans to hire 1000 Indian engineers for development centres

PayPal will hire 1,000 engineers for its India development centres across Bengaluru, Chennai and Hyderabad Talent will be hired across software, product development, data science, risk analytics and business analytics streams at entry, mid-level and senior roles. PayPal India also announced its plans for campus hires from top engineering colleges across India.

digital payments

13 May 2020

Digital payments fraud: COVID-19 provides opportunity to dupe consumers

Card cloning is the most common concern when it comes to debit or credit card fraud, with 1 in 3 seeing this as the biggest risk.

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