Page 18 - Payments Interface News Today

New Delhi [India], June 10 (ANI): Digital transactions in the country during January to March stood at 93.7 crore in volume terms and Rs 131 lakh crore in value terms, Worldline India said on Thursday.

Users in India would now be able to send money abroad to 44 countries around the world using Wise's service.

Retail digital payments saw a dip in April, after the rise in Covid infections resulted in lockdown-like situations in many parts of the country. Unified Payments Interface (UPI), the flagship payments platform of the National Payments Corporation of India (NPCI), saw a 4.3 per cent dip in transaction volume and a 2.22 per cent dip in transaction value. Similarly, Immediate Payment Service (IMPS) saw an 11 per cent drop in transaction volume and an 8 per cent drop in transaction value. Due to l...

AnimationXpress Search Unified Payments Interface (UPI) channel, the National Payments Corporation of India (NPCI) is likely to permanently ban all gaming transactions under Rs 50. The move is aimed at moderating volumes on UPI, where a sudden surge in transaction volumes in recent months — owing to accelerated digital adoption over the pandemic — has led to an increase in banking outages and technical declines. According to industry insiders, NPCI has in recent weeks seen a massive spike...

Highlights Reversal on failed UPI transaction. Year end closing transaction failures. New Delhi: On April 1, the Financial Year end closing had led to some UPI and IMPS transaction failures at few banks. The National Payments Corporation of India in a tweet said that it had have observed that most of these bank systems are back to normal since the evening of April 1 while customers may avail uninterrupted IMPS and UPI services. The Financial year end closing had led to some UPI and IMPS transac...

PhonePe logs $388 billion in annual TPV run rate, crosses 1-billion UPI transactions in March PhonePe logs $388 billion in annual TPV run rate, crosses 1-billion UPI transactions in March Fintech major PhonePe on Thursday said it has hit an annual total payment value (TPV) run rate of USD 388 billion dollars in March this year. The company, which competes with players like Paytm and Google Pay in the Indian digital payments market, said it has crossed the one-billion mark in terms of UPI tran...

Advertisement Over the past one year, UPI has seen exponential growth and taking home the biggest shares in the market are players like PhonePe, Paytm and Google Pay. But the growing numbers also come at a time when the National Payments Corporation of India (NPCI) is looking to cap each company’s market share in UPI. According to the NPCI’s official statement, UPI transactions on third party payment apps cannot exceed 30% of the overall volume of transactions processed in UPI during t...

The company, which competes with players like Paytm and Google Pay in the Indian digital payments market, said it has crossed the one-billion mark in terms of UPI transactions in the month of March.

At present, the current policy of the payments app of Google does not encourage the tech behemoth to sell transaction data to third-party services or sharing it with other Google services for targeted advertisements. Ambarish Kenghe, vice president-product, Google Pay, in a blog post, said: “We know that safety and privacy are paramount for payments products and services, and people want more control and transparency on how their transaction data is used ... ... Your personal information is n...

Well soon meet in your inbox. Please wait... For individual users, a new toggle will be introduced that will allow them, for instance, to delete their last 10 Unified Payments Interface (UPI) or tokenised card transactions if they don’t want these to be accessed by Google. Credit (or debit) card tokenisation is the process of completely removing sensitive data from a companys internal network and replacing it with a random, unique placeholder called a token. For instance, a card number with t...