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May 7, 2024
On the web
NPCI Bharat BillPay Onboards Disney+ Hotstar as a New Biller Under Subscription Category
NPCI
"NPCI Bharat BillPay Ltd., a subsidiary of National Payments Corporation of India, has onboarded Disney+ Hotstar as a biller on its Bharat Bill Payment System platform under the ‘subscription’ category."
May 6, 2024
On the web
Ghana and India Working To Link UPI and GHIPSS Payment Systems For Fund Transfers
Tech Labari
"India and Ghana have been in talks to link their payment systems – Unified Payments Interface (UPI) and Ghana Interbank Payment and Settlement Systems (GHIPSS) respectively to permit users to make instant, low-cost fund transfers."
May 2, 2024
On the web
India Introducing More Stringent KYC Rules for Financial Industry
Biometric Update
"India’s financial sector is beefing up its Know Your Customer (KYC) protocols under pressure from regulators. Financial institutions aim to add more verification layers for identifying accounts and account holders."
NPCI International Partners with Bank of Namibia for Deploying India’s UPI Stack in Namibia
NPCI
"NPCI International Payments Limited, the international arm of the National Payments Corporation of India (NPCI), has signed an agreement with the Bank of Namibia to support them in developing an instant payment system like UnifiedPayment Interface for Namibia."
April 25, 2024
On the web
Hitachi Payment Services Launches India's First Upgradable ATM
Hitachi Payment Services
"Hitachi Payment Services, India’s leading payments and commerce solutions provider announced the launch of the country’s first Upgradable ATM. The Upgradable ATM can be transformed into a high-performance Cash Recycling Machine (CRM) at any time."
April 24, 2024
On the wires
Launching Dynamic QR Code Device: Revolutionizing Digital Payments in India
PR Newswire
"Digital payments in India is undergoing a big shift, with the Unified Payments Interface (UPI) emerging as the preferred mode of transaction...Capitalizing on this momentum, SuperUs, an Indian tech OEM, has unveiled its latest innovation - the Dynamic QR Code device."
PayU Receives RBI's In-Principle Approval to Operate as a Payment Aggregator
PR Newswire
"PayU, one of India's leading digital financial services providers, announced that it has received the in-principle authorisation from the Reserve Bank of India (RBI) with regard to its online payments aggregation business."
April 22, 2024
On the web
Amazon Pay Redefines Convenience With Ayushmann Khurrana [Videos]
ETBrandEquity
"Amazon Pay's 'Pay Karne Ka Smarter Way' campaign takes a customer-centric approach by prioritizing education and empowerment."
April 17, 2024
On the web
India Scrambles to Curb PhonePe and Google’s Dominance in Mobile Payments
TechCrunch
"The National Payments Corporation of India (NPCI) is going to meet fintech startups this month to develop a strategy to address the dominance of PhonePe and Google Pay in the UPI ecosystem, sources told TechCrunch...These meetings are to address the dominance of Google Pay and PhonePe, accounting for nearly 86% of UPI transactions by volume (that’s up from 82.5% at the end of December)."
April 12, 2024
On the web
RBI’s Decision on 3rd-Party UPI Apps to Democratise Wallet Market
The News Minute
"Industry experts welcomed the move by the Reserve Bank of India (RBI) to permit the use of third-party UPI apps for making digital payments from prepaid payment instruments (PPI) wallets."
April 9, 2024
On the wires
UPI: New Payment Method for India from Centrobill
PR Newswire
"Centrobill announces the integration of the Unified Payments Interface (UPI) for the Indian market...Centrobill's adoption of UPI signifies its commitment to providing state-of-the-art payment technologies that streamline transactions for businesses and their customers alike."
April 5, 2024
On the web
RBI To Enable Users To Deposit Cash At ATMs Using UPI; Here’s How
MSN
"During the RBI’s Monetary Policy meeting, Reserve Bank Of India Governor Shaktikanta Das announced that users can now deposit cash via UPI facility at bank ATMs."
April 4, 2024
On the web
New RuPay Credit Card Features: EMI, Limit Management Among Other Key Latest Additions Announced By NPCI
MSN
"The National Payments Corporation of India (NPCI) has introduced a set of new features for RuPay Credit Cards on the Unified Payments Interface (UPI) platform, aimed at enhancing user experience and expanding the utility of credit accounts."
April 3, 2024
On the web
PhonePe Partners with Star Health Insurance to Offer Insurance with Monthly Payment Options
PhonePe
"PhonePe announced a partnership with Star Health and Allied Insurance Company Ltd., India’s largest retail health insurance Company, to offer customers health insurance with a monthly and annual payment option."
March 29, 2024
On the web
RBI Gives Aggregator Payment License to Amazon Pay [India]
India Infoline
"Amazon Pay, the digital payments arm of ecommerce giant Amazon India, has been granted a payment aggregator (PA) licence by the Reserve Bank of India. It now joins Zomato, Google Pay, Zoho, and others in being eligible to provide online merchant payment services to its customers."
March 18, 2024
On the web
Nepal Permits Digital Payments for Third Country Transactions
Kathmandupost
"After India, Nepal’s central bank has opened the digital payment system for third countries, pending the completion of necessary arrangements by Nepal’s commercial banks for its formal enforcement."
Instant Settlement Needed to Compete With Crypto, India's Markets Regulator Says
Yahoo Finance
"The chairperson of India's markets regulator has warned that if regulated markets don't offer instant settlement, investors will move to spaces like crypto. Settlement refers to the final step in payments and securities trade."
March 14, 2024
On the wires
India’s Paytm Gets Third-Party App License From Payments Authority
Reuters
"Indian digital payments firm Paytm, formally known as One 97 Communications was granted a third-party application provider license by the country's payments authority, which will enable it to facilitate payments after its banking unit ceases operations."
March 11, 2024
On the wires
India Cenbank Asks Card Issuers to Give Users Choice of Selecting Network
Reuters
"India's central bank said issuers of credit cards cannot enter into any arrangement or agreement with card networks that restrain customers from availing the services of other networks."
March 8, 2024
On the web
UPI is Now Accepted in Nepal
NPCI
"NPCI International Payments Ltd, the international arm of National Payments Corporation of India (NPCI) and Fonepay Payment Service Ltd, Nepal’s largest payment network, have announced that Unified Payment Interface (UPI) is now live for cross-border transactions between India and Nepal."
March 7, 2024
On the wires
Cashfree Payments Launches ‘Embedded Payments’, Enabling Software Platforms to Offer Seamless Payment Experiences for Businesses [India]
PR Newswire
"Cashfree Payments, India's leading payments and API banking company, launched 'Embedded Payments', India's first platform centric payment solution for software platforms."
March 4, 2024
On the web
India Central Bank Expects to Launch Interoperable Payment System for Internet Banking in 2024
Reuters
"India's central bank expects to launch interoperability of digital payment systems for internet banking in 2024 to enable faster fund settlements for merchants, Governor Shaktikanta Das said on Monday."
Google vs Indian Apps: Payments Industry Seeks Legal Changes Against Google’s App Billing Policy
The Economic Times
"Payments Council of India urges the government to amend laws and protect startups and payment aggregators from Google's monopolistic policies."
February 23, 2024
On the web
RBI Asks NPCI to Examine Paytm’s Request to Become 3rd Party App Provider
Business Standard
"Reserve Bank of India on Friday said NPCI has been asked to examine the possibility of it becoming a third party application provider for continued UPI operations of the Paytm app."
February 15, 2024
Top Post
India Central Bank Asks Visa, Mastercard to Stop B2B Payments via Fintech Platforms
Reuters
"India's central bank has asked Visa and Mastercard to stop card-based business-to-business payments such as rents or money transfer to vendors routed through third party fintech firms, according to two sources familiar with the matter."
On the web
Mastercard & Bank of Punjab to Boost Commercial Digital Payments in Pakistan
IBS Intelligence
"Mastercard and the Bank of Punjab have expanded their partnership to cover the commercial segment, ranging from large corporate entities and small and medium enterprises to freelancers and gig workers."
February 14, 2024
Top Post
Visa Halts Intermediated Commercial Card Payments in India Following RBI Order
Nasdaq
Visa V.N on Wednesday said it received directions from the Indian central bank to halt all transactions for business payment solution providers (BPSPs) in commercial and business payments in the country.
NPCI Seeks For Real-Time Payment Connectivity Between Indian and US Banks
StartupNews
"The National Payments Corporation of India (NPCI) and banks in the United States and India are reportedly in advanced talks to establish a real-time payment linkage between the two countries."
February 9, 2024
On the web
Indian Parliamentary Panel Red-flags PhonePe and Google Pay Cornering 83% of India's UPI Payments
TechCrunch
"An Indian parliamentary panel has urged the government to support the growth of domestic fintech players that can provide alternatives to the Walmart-backed PhonePe and Google Pay apps that currently command more than 83% of the country’s fast-growing digital payments market."
February 5, 2024
On the wires
Thousands of Accounts at India’s Paytm Payments Bank Set Up Improperly, Sources Say
Reuters
"India's central bank has found hundreds of thousands of accounts at Paytm Payments Bank created without proper identification and has passed the information on to the country's financial crime fighting agency, three sources familiar with the matter said."
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