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Indian banks have been grappling with t Bhe UPI phenomenon. UPI is heaven-sent for consumers, but banks dont make a dime off it. It is also the cause of banking system outages that tarnish a banks reputation and erode its market capitalisation.
The meeting happens against the backdrop of declining usage of CBDC at the wholesale level and retail level. Despite a push from some banks and the regulator and interoperability with UPI, CBDC has been losing popularity
India looking forward to leverage digital payments stack; in talks with regulators globally: NPCI : Rashtra News India is looking forward to leveraging the stack it has built in the digital payments space and the National Payments Corporation of India (NPCI) is reaching out to many countries to help them build their own payment systems,
Cyber Security: Phishing is the most common form of cyberattack in India, accounting for more than 84% of the total cyber threats received every year, according to Acronis, a leader in cyber protection. The attacks grew 464% YoY in 2023, said Acronis.
'We went from zero to about 10 million users in three months. Paytm came out with the wallet play and we came out with the UPI play.'