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Searched Tag: upi

UPI to add face ID, fingerprint for payments: Report

August 10, 2024, 03:36 PM - 2 min read

Reports this week claim that National Payments Corporation of India or NPCI is talking to companies to make UPI payments authenticated using biometric features on our smartphones.

(R) EAM Jaishankar with Maldives Foreign Minister Moosa Zameer in Male.

UPI coming to Maldives, Jaishankar confirms in new MoU

August 10, 2024, 12:54 PM - 2 min read

The Memorandum of Understanding was signed on Friday during Jaishankar's three-day official visit to the Maldives.

Swiggy, the prominent online food and grocery delivery platform, has introduced its own UPI (Unified Payments Interface) service, aiming to reduce reliance on external payment apps, minimize payment failures, and streamline the checkout experience.

Swiggy introduces In-app UPI to cut payment failures

July 5, 2024, 01:24 PM - 2 min read

A source revealed that Swiggy has been testing the UPI service with its employees for the past month and plans to gradually roll out the service to all users in phases over the coming months. The UPI Plugin, launched by the National Payments Corporation of India (NPCI) in 2022, allows merchants to offer UPI payment services within their apps without needing a TPAP license.

Reserve Bank Governor Shaktikanta Das convened discussions on Wednesday with banks and key stakeholders to explore avenues for expanding the Unified Payments Interface (UPI) ecosystem, bolstering product offerings, and stregnthening innovative payment solutions.

RBI Guv Das discusses ways to enhance UPI ecosystem

May 9, 2024, 01:27 PM - 2 min read

"The meeting entailed comprehensive discussions on strategies to broaden and deepen the adoption and usage of UPI. Valuable inputs and suggestions were exchanged among stakeholders," the statement noted.

India's UPI to connect with Ghana's GHIPSS for seamless cross-border fund transfers

May 5, 2024, 08:07 PM - 2 min read

India and Ghana are working to link their payment systems, the Unified Payments Interface (UPI) and the Ghana Interbank Payment and Settlement Systems (GHIPSS), respectively, to permit users to make instant, low-cost fund transfers on a reciprocal basis.

April witnesses 1% decrease in UPI transactions, yearly growth at 50%

May 1, 2024, 07:14 PM - 2 min read

According to data from the National Payments Corporation of India (NPCI), the transaction volume in April was Rs 19.64 lakh crore, down from Rs 19.78 lakh crore in March.

Since the past decade, India's digital payment scenario has undergone a remarkable transformation. In the fiscal year 2022 alone, the total number of digital transactions surged to 8.84 billion, surpassing a cumulative value of Rs. 3 trillion.

RuPay Cards and UPI: A decade of digital transformation

April 3, 2024, 01:07 PM - 2 min read

Under the leadership of the Modi government over the past decade, there has been unprecedented growth in the adoption of debit cards, credit cards, and UPI/retail digital transactions. Comparing the period from 2014 to 2024, RuPay cards, which were non-existent a decade ago, have now captured approximately 80% of the debit card market share.

NPCI launches UPI services in Nepal, facilitating cross-border transactions

March 8, 2024, 03:57 PM - 2 min read

Starting from Friday, March 8, 2024, Indians can make QR-code-based UPI transactions in Nepal. In this initial phase of collaboration, Indian consumers can utilize UPI-enabled apps to seamlessly make instant, secure, and convenient payments across various business establishments in Nepal.

Flipkart, one of India's leading e-commerce platforms, has launched its own Unified Payments Interface (UPI) services in collaboration with Axis Bank.

Flipkart introduces "Flipkart UPI", streamlining payments for customers

March 4, 2024, 12:48 PM - 2 min read

Dheeraj Aneja, Senior VP of Fintech and Payments Group at Flipkart, highlighted the significance of Flipkart UPI, stating, "Flipkart UPI seamlessly merges the convenience and cost-effectiveness of UPI with the trusted efficiency customers expect from us." He emphasized Flipkart's commitment to delivering best-in-class commerce experiences by offering safe and convenient payment options along with various rewards and benefits such as Supercoins and Brand Vouchers.

Finance Minister Nirmala Sitharaman. Image X.

Finance Minister Sitharaman champions Rupee trade Revolution at JNU lecture

March 1, 2024, 09:32 PM - 2 min read

Finance Minister Nirmala Sitharaman delivered significant insights during the Pandit Hriday Nath Kunzru Memorial Lectures 2024 at JNU, shedding light on India's robust economic fundamentals and the evolving global trade scenario.

Things have changed from UPA to UPI: Union Min Anurag Thakur at FICCI

February 27, 2024, 02:15 PM - 2 min read

Union Information and Broadcasting Minister Anurag Thakur conveyed an optimistic forecast, declaring that India is on track to achieve developed nation status well before 2047, attributing this trajectory to government initiatives and collaborative efforts across sectors, including industry.

According to a report by industry body Nasscom, digital public infrastructures such as Aadhaar, UPI, and FASTag contributed 0.9% to India's GDP in 2022, generating a value of USD 31.8 billion.

Digital public infra contributes 0.9% to GDP, to triple by 2030: Nasscom

February 22, 2024, 01:15 PM - 2 min read

Nasscom-Arthur D. Little report titled 'Digital Public Infrastructure of India, Accelerating India's Digital Inclusion' said that mature DPIs such as Aadhaar, UPI (Unified Payments Interface), and FASTag have witnessed exponential adoption by 2022, and the next 7-8 years offer an opportunity for further scalability, reaching even the most remote segments of the population.