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A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.
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August 14, 2025
Top Post
RBI Brings Lightning-Fast Cheque Clearance: From This Date, They’ll Clear in Hours, Not Days
MSN
"The RBI will introduce a new mechanism from October 4 for clearance of cheques within hours of being presented to banks, reducing the current time period of up to two working days. Cheques will be scanned, presented, and passed in a few hours and on a continuous basis during business hours. The clearing cycle will be reduced from the present T+1 days to a few hours."
August 12, 2025
On the wires
Paytm’s Unit Gets Indian Central Bank Nod to Operate as Online Payment Aggregator
Reuters
"Indian fintech firm Paytm's Payment Services unit has got 'in-principle' approval from the country's central bank to operate as an online payment aggregator. In August 2024, the company had said it would submit an application with the Reserve Bank of India to seek a payment aggregator license. That move came seven months after the central bank ordered it to wind down its payments bank."
August 5, 2025
On the web
ICICI Bank Starts Charging PhonePe, Google Pay While UPI Hits 700 Million Daily Transactions
MSN
"India’s Unified Payments Interface (UPI) has reached a new milestone, crossing 700 million transactions in a single day for the first time on August 2, according to NPCI data reported by Moneycontrol. Meanwhile, ICICI Bank has begun charging payment aggregators like PhonePe and Google Pay a fee per transaction, sparking fresh debate on the sustainability of UPI’s zero-fee model. Effective August 1, ICICI Bank has introduced a processing fee model for payment aggregators (PAs) handling merchant UPI transactions. "
August 1, 2025
Top Post
New UPI Rules Roll Out Today: Here's What You Can And Can't Do Now On Google Pay, Paytm, PhonePe
Techlusive
"Starting today, UPI users across India will experience some important changes aimed at improving system efficiency and preventing overload. The National Payments Corporation of India (NPCI) has rolled out new rules that affect how often you can check balances, view bank accounts, and make auto-debit payments. If you use apps like Google Pay, Paytm, or PhonePe regularly, here are the new changes you need to know: Limit on Balance Enquiries Per Day; Restricted Access to Linked Bank Accounts; Auto-Debits Moved to Off-Peak Hours."
July 30, 2025
On the web
New UPI Rules From August 1: Here’s How Paytm, PhonePe, GPay Users Will Be Impacted
The Economic Times
"The National Payments Corporation of India (NPCI) has introduced several changes in Unified Payment Interface (UPI) ecosystem with an aim to improve the performance of UPI transactions. NPCI has issued additional set of guidelines to be adhered by UPI ecosystem members that includes limiting balance enquiry requests to regulating the use of APIs like Autopay Mandate Execution, and Validate Address."
July 24, 2025
On the web
PhonePe, G-Pay Hold 82% UPI Share in June
Entrackr
"India’s UPI network saw 18.4 billion transactions worth Rs 24.04 lakh crore [$288.5 billion] in June, slightly lower than the previous month, as per NPCI data. Despite the dip, PhonePe and Google Pay continued to lead the space, together handling over 82% of all UPI transactions by volume."
July 22, 2025
On the web
SBI Card and PhonePe Forms Strategic Partnership; Launch Co-Branded PhonePe SBI Card
APN News
"New Delhi : SBI Card, India’s largest pure-play credit card issuer, in partnership with PhonePe announced the launch of PhonePe SBI Card. This new co-branded credit card aims to provide a rewarding experience on everyday spends, crafted to serve the evolving financial needs of customers across India. The credit card comes in two variants, the PhonePe SBI Card PURPLE and the PhonePe SBI Card SELECT BLACK, catering to diverse customer preferences, and lifestyle spending needs. Additionally, both the variants of this contactless credit card are available on the RuPay and VISA payment networks, giving consumers the choice of network that best suits their needs."
July 17, 2025
On the wires
NPCI International Expands UPI-PayNow Linkage to Drive Cross-Border Remittances
PR Newswire
"NPCI International Payments Limited (NIPL) the international arm of National Payments Corporation of India (NPCI) has further enhanced the UPI-PayNow real-time payment linkage by adding 13 more banks on the platform, extending its reach and simplifying cross-border remittances between India and Singapore. With this development, users in both countries can remit funds to a wider base, making the service more accessible and convenient."
July 16, 2025
Top Post
UPI Revolution in Bharat: 34 Key Milestones in Digital Payment Journey & Global Expansion
Organiser
"In a remarkable display of digital payment dominance, Bharat’s Unified Payments Interface (UPI) achieved a significant milestone in May 2025, surpassing global giant Visa with over 65 crore daily transactions. This makes UPI the fastest-growing payment system, expanding four times faster than its competitors. It processed an astounding Rs25 lakh crore, a figure 12 times greater than all card payments combined, cementing its position as the backbone of India’s digital economy by powering 85 per cent of the nation’s digital payments."
July 14, 2025
On the web
NPCI, Namibian Central Bank Enter Licensing Agreement to Develop a UPI-Like Instant Payment System: MEA
The Economic Times
"The Ministry of External Affairs confirmed a licensing agreement between India and Namibia for the deployment of UPI (Unified Payments Interface). During the press conference on Prime Minister Narendra Modi's visit, Dammu Ravi, Secretary (East) noted that Namibia has become the first country in the world where the National Payment Corporation of India (NPCI) and the Namibian Central Bank have entered into a licencing agreement for the usage of UPI in Namibia in real-time payments ."
July 10, 2025
On the web
Amazon Pay Launches ‘Rewards Gold’ Cashback Program: How It Works [India]
CNBCTV18
"Amazon Pay has launched ‘Rewards Gold’, a cashback program that offers up to 5% cashback on everyday spending. The new program is available to both Prime and non-Prime users. Transactions that count include UPI payments, money transfers, QR code scans, recharges, and shopping orders."
June 12, 2025
On the web
Paytm Shares Plunge 10% as Government Denies MDR on UPI
NewsBytes
"Shares of One97 Communications, the parent company of digital payments platform Paytm, fell by as much as 10% on Thursday. The decline came after the Finance Ministry rejected rumors about the possible introduction of a Merchant Discount Rate (MDR) for Unified Payments Interface (UPI) transactions. The ministry called such reports "baseless and sensational speculations" that create unnecessary uncertainty among citizens."
June 11, 2025
On the web
Will UPI Transactions Be Costly? Govt May Consider Charges on Payment Above This Amount
India TV News
"The Payments Council of India (PCI) has suggested a 0.3 per cent MDR for big merchants. Currently, credit and debit cards have an MDR of 0.9 per cent to 2 per cent, but RuPay cards are exempt from this."
June 6, 2025
On the web
India Leads in Remittances - But Trump’s Tax Could Deal a Blow
BBC
"Tucked deep in Donald Trump's sprawling "One, Big, Beautiful Bill Act" is a clause that could quietly take billions from money sent abroad. It proposes a 3.5% tax on remittances sent abroad by foreign workers, including green card holders and temporary visa workers such as those on H-1B visas. For India - the world's top remittance recipient - the implications are serious, say experts."
June 5, 2025
On the web
Wise Gets RBI Nod for Cross-Border Payment Aggregation in India
IBS Intelligence
"Global FinTech Wise has received in-principle approval from the Reserve Bank of India (RBI) to operate as a Payment Aggregator – Cross Border for export transactions. The approval marks a significant step in Wise’s deepening commitment to India’s fast-growing cross-border payments landscape."
May 29, 2025
On the web
Reserve Bank of India to Roll Out New Use Cases for Digital Rupee
Cointelegraph
"The Reserve Bank of India (RBI) is set to broaden the reach of its digital rupee pilots by introducing new use cases and features for both its retail and wholesale central bank digital currencies (CBDCs), according to the central bank’s Annual Report for 2024–25. The central bank said it aims to explore programmability and offline capabilities for the digital rupee, features that may increase its applicability in areas with limited internet access and tailor payments for specific use cases such as government subsidies or corporate spending controls."
May 19, 2025
On the web
BharatPe App Launches UPI Rewards Plan: How to Earn Zillion Rewards on All Qualified UPI Transactions
Content Media Solution
"BharatPe has launched Zillion Rewards, a pioneering UPI loyalty program that offers guaranteed, transparent rewards on all qualified transactions. Designed to enhance user experience, this industry-leading program allows users to earn “Zillion Coins” on UPI payments via the BharatPe app, incentivising everyday transactions."
May 12, 2025
On the web
FamApp Overtakes Amazon Pay In April’s UPI Count, PhonePe Continues To Lead
Inc42 Media
"FamApp By Trio (erstwhile FamPay) surpassed Amazon Pay to become the eighth biggest Unified Payment Interface (UPI) player in April. The month of April saw a marginal decline of 2.2% in the UPI transactions. Maintaining the domination streak, PhonePe and Google Pay continued to hold the duopoly in the UPI market."
April 29, 2025
On the web
Indian Authorities Keen to Charge Merchants Fees to Bolster Homegrown Payments Network, Sources Say
MarketScreener
"India's payments authority, the central bank, and industry are pushing the government to allow a fee on digital payments to large merchants made via its homegrown network to help boost growth, five sources told Reuters. The charge, known as Merchant Discount Rate (MDR), is considered crucial to boosting investment for payments firms, and reviving slowing growth in payments made via the Unified Payments Interface (UPI), India's own network, the sources said. "
April 28, 2025
On the web
NPCI’s Netbanking 2.0 Looks to Replicate UPI Success, but Challenges Loom
Policy Circle
"The National Payments Corporation of India is set to give the net banking system a major makeover, aiming to replicate the revolutionary success of Unified Payments Interface and make online transactions even easier for users. The ambitious project, called Netbanking 2.0, is being spearheaded by NPCI’s subsidiary, NPCI Bharat BillPay Ltd, and is expected to go live within the next three to four months. Trial runs have already been completed."
April 22, 2025
On the web
Fast Payments in Action: Emerging Lessons From Brazil and India
Atlantic Council
"As the rise of instant payment systems transforms the global financial sector, more governments are considering launching their own central bank-led immediate payment systems. Pix and Unified Payments Interface (UPI), Brazil and India’s respective instant payment systems, provide two key lessons for governments interested in implementing new fast or immediate payment systems."
April 16, 2025
On the web
Air India Adopts Agentic AI to Enhance Customer Experience
APAC Media
"Leveraging agentic AI, Air India has gone live with Agentforce to automate its core customer service processes. Refund requests often require multiple handoffs between Air India ‘s contact centre, the refunds team and the customer. This often slows down the resolution process. Air India is now reimagining this process through the adoption of agentic AI. The solution streamlines and accelerates the end-to-end handling of such requests."
April 10, 2025
On the web
RBI Eases UPI Rules To Enable High-Value Merchant Payments [India]
IBS Intelligence
"The Reserve Bank of India has introduced a significant update to its Unified Payments Interface (UPI) framework by allowing banks and payment service providers more control over transaction limits for in-person payments at merchant outlets. Under the new guidelines, financial institutions can set their transaction caps for UPI-based payments at physical stores, provided they stay within the overarching limit defined by the RBI."
April 9, 2025
On the web
NPST Secures Multi-Year Contract from Central Bank of India to Scale Offline Payment Acceptance Network
NPST
"NPST, India’s leading provider of banking and payment technology solutions, has secured a strategic multi-year contract from the Central Bank of India to deploy its flagship Qynx platform—an industry-leading Payment Platform-as-a-Service (PPaaS) offering designed to scale offline payment acceptance across the country."
April 3, 2025
On the web
NPCI Developing 'Federated Model' to Counter Fraud Transactions Using UPI
The Times of India
"The National Payments Corporation of India (NPCI) is piloting a 'federated model' in collaboration with banks to eliminate frauds using Unified Payments Interface (UPI) transactions. India's umbrella organisation for operating retail payments and settlement systems is also leveraging on Artificial Intelligence (AI) and Machine Learning (ML) tools to detect suspicious transactions through UPI."
Reserve Bank of India Raises ATM Fees
ATM Marketplace
"The Reserve Bank of India has raised the interchange fee for ATMs, raising them from 21 rupees to 23 rupees, an increase of about 2 cents, according to a report by Times of India. However, customers will be allowed five free ATM transactions per month at their bank, and three transactions at other bank ATMs in metro areas, and five in non-metro areas. This increase will take place on May 1."
India’s Credit Card Spend Slumps to 7-Month Low as Tax Season Squeezes
IBS Intelligence
"Credit card spending in India declined in February 2025, in line with historical trends. The latest industry data reveals a 9% month-on-month (MoM) drop in total card spending to Rs 1,672 billion ($19.52 billion), marking the lowest spending levels in seven months. However, on a year-on-year (YoY) basis, spending showed a 12% increase, albeit at a slower pace compared to previous months."
April 2, 2025
On the web
New UPI Rule Starting April 1: Here’s What’s Changing
MSN
"National Payments Corporation of India (NPCI) has issued an addendum to its previous circular on the Numeric UPI ID solution, introducing new guidelines to increase interoperability and customer experience for UPI number-based payments. These will be effective from April 1, 2025, and must be followed by UPI member banks, UPI apps, and third-party app providers (TPAPs)."
March 28, 2025
On the web
India Pushes To Ease International Payments Through Homegrown Network to Rival Visa, Mastercard
Yahoo Finance
"India is asking the Financial Action Task Force (FATF) to reduce compliance requirements for cross-border payments made through its homegrown system. Launched in 2016, the Unified Payment Interface (UPI) accounted for 83% of India's digital payments volume in 2024. The government wants to increase the use of its own payments network by Indians travelling abroad, which could make the global cross-border payments market more competitive."
March 27, 2025
On the wires
India’s Axis Bank, J.P. Morgan Roll Out Anytime Dollar Payments for Clients
Reuters
"India's Axis Bank has partnered with J.P. Morgan to offer real-time U.S. dollar payment capabilities to commercial clients in the country, facilitated by Kinexys, the U.S-based lender's blockchain and digital assets unit. This is the first instance where an Indian company will have the flexibility to make or receive dollar payments at any time, J.P. Morgan said."
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