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Transactions on UPI and Bharat Bill Payment double: NPCI Data

March 2, 2021 February was a month of mixed results for the National Payments Corporation of India’s (NPCI) flagship payments platform. While several payments platforms operated by the NPCI saw a marginal growth in transactions, others saw a marginal dip in transactions in February compared to January this year. Nonetheless, transactions on these platforms have grown significantly over the last year signifying the extent to which the COVID-19 pandemic pushed people to use digital payments platforms. Transactions on the Unified Payments Interface (UPI) platform have nearly doubled in value over the last year, while transactions on the Bharat Bill Payment System have

Paytm Payments Bank empowers FASTag users with fast redress mechanism

Paytm Payments Bank empowers FASTag users with fast redress mechanism February 26, 2021 Helps 2.6 lakh users get refunds for wrong toll charges Paytm Payments Bank Ltd (PPBL) has announced that it has facilitated refunds for 2.6 lakh FASTag users who were charged incorrectly by toll plazas in the year 2020. It has set up a fast redressal mechanism, which identifies incorrect deductions and raises claims to reverse the extra charges. While FASTags ensure automatic payment of toll charges, sometimes issues with systems and processes present at the toll plaza result in deduction of more than the applicable charges. Redressal mechanism To expeditiously resolve all such customer complaints, PPBL has put in place a dispute management process that audits all customer complaints, associated toll transactions, and issues raised by the toll plazas.

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