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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 localised lockdowns, FASTag also witnessed a 15 per cent drop in transactions volume and a 10 per cen...
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 in low-ticket recurring transactions (as low as Rs 1) processed by gaming merchants. “These trans...
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 transaction failures at few banks. We have observed that most of these bank systems are back to normal sinc...