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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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October 8, 2025
On the web
NPCI Piloting Agentic AI-Based Payments With UPI
Inc42 Media
"The National Payments Corporation of India is piloting an agentic AI framework for UPI, marking the next phase of what it calls “intelligent commerce”. The payments body showcased a live demo of the offering at the Global Fintech Fest 2025 today. The on-stage presentation featured Gemini, BigBasket, Google Pay, and Razorpay as partners. It opened with a simple use case – an AI assistant helping a user recreate a food recipe."
PhonePe, Mastercard Partner to Launch Device Tokenization
Tech In Asia
"PhonePe has partnered with Mastercard to launch device tokenization for its payments gateway, aiming to boost security for online transactions. PhonePe, an India-based digital payments platform, said the new feature allows customers to save their card details once on the PhonePe app and use them across multiple merchants without reentering information. The device tokenization initiative leverages Mastercard’s network tokenization technology and aligns with recent Reserve Bank of India regulations allowing alternative authentication methods."
October 7, 2025
On the web
PhonePe Launches Next-Gen SmartSpeaker With Integrated Card Payments
PhonePe has launched its new SmartPOD, a device merging POS and smart speaker
functions, enabling small merchants to accept both UPI and card payments. Designed
in India, it supports major card networks and offers features like dual displays and
celebrity voice confirmations. This move aims to boost digital payment adoption for
businesses of all sizes across India.
NTT DATA: Signs MoU with NPCI International Payments Limited for UPI Payment Acceptance Across Merchants in Japan
MarketScreener
"NTT DATA announced that it has signed a Memorandum of Understanding (MoU) with NPCI International Payments Limited, a subsidiary of the National Payments Corporation of India (NPCI). The MoU establishes the foundation to enable acceptance of Unified Payments Interface (UPI), India's leading real-time payment system for Indian tourists in Japan."
UPI Fraud Clampdown: NPCI to End P2P Collect Requests From October 1; Banks, Apps Told to Block Pull Transactions Permanently
The Times of India
"National Payments Corporation of India (NPCI) has directed banks and payment apps to stop all peer to peer (P2P) ‘collect requests’ on UPI from October 1, 2025, in an effort to curb financial fraud. The move means that all banks and UPI apps — including PhonePe, Google Pay, and Paytm — will no longer be able to initiate, route, or process P2P collect transactions after the deadline."
On the wires
PayPal CEO: India’s UPI Is Its Platform’s First Onboard Payments System Partner
Reuters
"The operator of India's popular unified payments interface (UPI) is the first payments system partner onboarded on PayPal's platform PayPal World, CEO Alex Chriss said on Tuesday."
October 1, 2025
On the web
AI-Trained Payments Fraud Detection System Under Works, RBI Says
NDTV Profit
"The Reserve Bank of India is developing an artificial intelligence-trained fraud detection system to alert bank account holders about potential risky transactions to curb fraud. "It is in an experimental stage. We are making the software," Governor Sanjay Malhotra said in a press conference after the Monetary Policy Committee on Wednesday. The RBI's under-development 'Digital Payments Intelligence System' will be run by an entity, which will collect data from various sources to trace mule accounts and flag risks to both customers and banks, Deputy Governor T Rabi Sankar explained."
September 26, 2025
Top Post
India Cracks Down on ‘Alarming’ Digital Payments Fraud With Strict New Rules
Yahoo Finance
"The Reserve Bank of India has issued new rules to tighten authentication standards for digital payments to curb rising fraud in the sector. The guidelines mandate stronger security protocols across all domestic digital transactions. All payment system providers, including banks and non-bank entities, are required to comply with the rules by April 1, 2026. The measures require at least one dynamic factor of authentication for all digital transactions, excluding card-present payments."
On the web
Thousands of Indian Bank Transfer Records Found Online
TechCrunch
"A data spill from an unsecured cloud server has exposed hundreds of thousands of sensitive bank transfer documents in India, revealing account numbers, transaction figures, and individuals’ contact details. The exposed files contained completed transaction forms intended for processing via the National Automated Clearing House, or NACH, a centralized system used by banks in India to facilitate high-volume recurring transactions, such as salaries, loan repayments, and utility payments."
September 25, 2025
On the web
RBI Allows Risk-Based Checks in New Digital Payment Guidelines [India]
The Economic Times
"As digital payments become an integral part of everyday life in India, the Reserve Bank of India (RBI) has taken a significant step to enhance the security of these transactions. Currently, most digital payments in India rely on SMS-based One Time Passwords (OTP) as a second factor of authentication. However, recognizing the rapid advancements in technology and the evolving landscape of cyber threats, the RBI has mandated that all digital payments must now be secured by at least two distinct factors of authentication. Importantly, at least one factor must be dynamic--unique to each transaction--to prevent fraud and unauthorized access."
September 23, 2025
On the web
NPCI Eyes EMI Payments on UPI in Fresh Credit Play Push
The Economic Times
"NPCI is focusing on expanding credit offerings on UPI, aiming to allow users to convert QR code payments into EMIs (monthly installment). This move follows the success of RuPay credit cards and credit lines on UPI, with fintech firms expected to soon enable EMI options during UPI transactions."
September 18, 2025
On the web
Paytm Launches ‘Spend Now, Pay Next Month’ Postpaid on UPI
India
"Paytm Postpaid transforms day-to-day payments with rapid short-term credit directly within the UPI network. In contrast to other Buy Now, Pay Later (BNPL) products that operate through a separate app or an additional checkout stage, this service uses India’s most-used payment app, UPI."
September 17, 2025
On the web
PhonePe, Paytm, Cred Shut Down Rent Payment Feature After RBI Curbs
MSN
"The Reserve Bank of India’s move to tighten regulations for payment aggregators has prompted some of India’s largest fintech firms, including PhonePe, Paytm and Cred, to stop rent payments on their platforms, according to a Moneycontrol report. The central bank’s new rules prohibit payment aggregators from acting as marketplaces—which previously allowed them to process rent payments."
September 16, 2025
On the web
RBI Fines PhonePe for Regulatory Lapses, Sends a Clear Warning to Fintechs
The420
"The Reserve Bank of India (RBI) has imposed a fine of ₹21 lakh on digital payments company PhonePe for violating norms related to prepaid payment instruments (PPIs). The penalty underscores the central bank’s tightening grip on India’s fast-expanding fintech sector. Regulators found that the company failed to adequately inform customers about account balances and did not fully comply with mandated disclosure requirements."
September 15, 2025
On the web
UPI Joins Hands With Global Postal Network to Reshape Cross-Border Payments
IBS Intelligence
"The announcement of UPI–UPU integration at the Universal Postal Congress in Dubai has been hailed as a landmark moment in the global payments industry, with FinTech leaders highlighting its potential to reshape cross-border remittances and set new benchmarks for financial inclusion. By merging the universal reach of postal networks with the speed, affordability, and interoperability of India’s Unified Payments Interface (UPI), the UPI–UPU integration promises a fundamental shift, making cross-border transactions faster, safer, and significantly more cost-effective."
September 10, 2025
Top Post
India Delays Crypto Regulation Amid Concerns of Systemic Risks
CoinCentral
"RBI warns that regulating cryptocurrencies could legitimize the sector and increase systemic financial risks. India has not fully regulated crypto, fearing that it may disrupt its financial system by legitimizing digital assets. Despite its hesitation, India has imposed taxes on crypto gains and set rules for global exchanges operating locally. RBI notes that stablecoins’ widespread use could weaken India’s digital payment systems, including UPI."
September 9, 2025
On the web
PhonePe, GPay Hit Record UPI Volumes in Aug, but Smaller Apps Eat Into Market Share
CNBCTV 18
"Digital payment leaders PhonePe and Google Pay registered their highest-ever transaction volumes in August 2025, even as their combined market share slipped, highlighting the growing traction of smaller UPI apps and the deepening adoption of merchant payments across categories. PhonePe commanded a market share of about 45.7%, Google Pay another 35.3% and Paytm about 7%. Challengers like Navi, CRED and super.money are steadily expanding their presence."
Amazon Pay India CEO Bats for Balanced MDR to Support Stakeholders
Business Standard
"A non-arbitrary merchant discount rate (MDR) on Unified Payments Interface (UPI) transactions should be determined after discussions between the regulator and industry, Amazon Pay India chief executive officer (CEO) Vikas Bansal told Business Standard on Tuesday...The remarks come at a time when the payments industry is closely watching regulatory discussions around MDR on UPI transactions, which have significant implications for the growth and sustainability of digital payments in India."
September 5, 2025
On the web
UPI Payments: Higher Transaction Limits For Select Merchants Starting Sept 15
MSN
"The National Payments Corporation of India (NPCI) has raised the UPI transaction limit to Rs 5 lakh for select categories linked to tax payments, starting September 15, 2025. This update will allow verified merchants in these categories to handle bigger payments seamlessly, reflecting the growing reliance on UPI as India’s go-to digital payment mode."
August 28, 2025
On the web
Deutsche Bank Optimises UPI Connectivity to Streamline Merchant Payments in India
LeapRate
"Deutsche Bank said that it has enhanced its merchant solutions in India by directly integrating with the country’s Unified Payments Interface (UPI), enabling faster and more reliable digital payment processing for large merchants and Payment Service Providers."
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 ."
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