January 13, 2021
While digital payment adoption began to grow significantly post demonetisation, the COVID-19 pandemic accelerated this shift over the last year, according to PwC India’s Indian Payments Handbook. The total value of digital payments is expected to grow to ₹238 lakh crore by 2024-25 from ₹92 lakh crore in 2019-20, while the total volume of transactions is expected to grow to 167 billion from 42 billion during the same period, the report says.
“Growth in digital payments in India has been driven by multiple factors such as the launch of new and innovative payment products, increasing smartphone adoption, a growing need for faster payment modes, and a strong push from the Government and regulators towards adoption of digital channels, the report says. levels. “We have seen a V-shaped recovery post the pandemic, as the outbreak accelerated the shift to digital platforms. Businesses are now looking to integrate both online and offline channels in order to provi
Digital payments industry s fee income to grow to whopping Rs 3 lakh crore by FY25: PwC Report orissapost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from orissapost.com Daily Mail and Mail on Sunday newspapers.
Paytm Payments Bank leads market with 6 million FASTags
January 11, 2021
PPBL has now enabled cashless toll payments across 250 plazas in the country Paytm Payments Bank Ltd (PPBL) on Monday announced that it is the leading issuer of FASTag in the country with over 6 million FASTags, as more citizens avail the service with the government extending the deadline for its adoption.
Paytm FASTag has gained popularity amongst users in the country due to its seamless onboarding and integration process which requires minimum documentation, instant activation and unmatched customer care support. PPBL has now enabled cashless toll payments across 250 plazas in the country, a statement issued by PPBL said.
FACT CHECK: NPCI dismisses reports of charges on UPI transactions
NPCI has urged all the customers to not believe in such stories and continue to perform uninterrupted and convenient UPI transactions.
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Updated: Jan 1, 2021, 03:38 PM IST
The National Payments Corporation of India (NPCI) said that the news about UPI transactions being chargeable from January 1, 2021 is incorrect and has requested everyone not to fall prey to such incorrect information.
NPCI has urged all the customers to not believe in such stories and continue to perform uninterrupted and convenient UPI transactions.
NPCI would like to clarify that the news about UPI transactions being charged from 1st Jan, 21 is completely #fake. Our press release dated Nov 5 2020, has no correlation with pricing or charges whatsoever.https://t.co/uiVVG0axALpic.twitter.com/uSRMUZZLL4
Highlights
NPCI said, continue to perform uninterrupted and convenient UPI transactions.
NPCI was incorporated in 2008.
New Delhi: National Payments Corporation of India (NPCI) said that the news about UPI transactions being charged from January 1, 2021 is incorrect and has requested everyone not to fall prey to such incorrect information.
NPCI has urged all the customers to not believe in such stories and continue to perform uninterrupted and convenient UPI transactions.
National Payments Corporation of India (NPCI) was incorporated in 2008 as an umbrella organization for operating retail payments and settlement systems in India. NPCI has created a robust payment and settlement infrastructure in the country. It has changed the way payments are made in India through a bouquet of retail payment products such as RuPay card, Immediate Payment Service (IMPS), Unified Payments Interface (UPI), Bharat Interface for Money (BHIM), BHIM Aadhaar, National Electronic Toll Collection (NET