UPI users will soon be able to perform transactions in the United Kingdom. National Payments Corporation of India, organization behind UPI, has teamed with PayXpert, UK-based payment solutions provider, to boost the acceptability of UPI's payment solutions in the UK. Through this collaboration, UK will be capable of accepting payments made in person using Indian payment systems, beginning with QR code payments and subsequently adding support… read-more
Courtesy: Zee news
In the latest development, the online payment application PhonePe has announced that it'll now charge processing fees per transaction on mobile recharges above Rs 50. Reportedly, a user has to pay Rs 1 on the recharge between Rs 50-100 and Rs 2 on recharges above Rs 100. ''As a part of the experiment, a majority of users are either not paying anything or paying Re 1,'' said PhonePe.
Courtesy: Live Mint
Digital payments application BharatPe has become the official partner of ICC (International Cricket Council) till 2023. It will promote ICC across digital and broadcast platforms and execute in-venue brand activation at all ICC events till 2023. Major tournaments included World Test Championship (2021, 2023), Men’s T20 World Cup (2021, 2022), Women’s World Cup (2022), U19 Cricket World Cup (2022), Women’s T20 World Cup (2022), and Men’s… read-more
Telegram app has launched the payment option in 200 different countries, including India, where users can use credit cards for payments. It has partnered with eight integrated third-party payment providers. The app ensures all the transactions and chats are completely safe and protected as the transaction details will not be stored, tracked, and charges no commissions. The other major updates include scheduled voice calls and 'Pinch to Zoom'… read-more
Courtesy: Deccan Herald
The RBI has issued rolled new rule for banks and payment platforms to send notifications of auto and recurring payments of mobile, utility and OTT platform bills. Applicable from April 1, the rule provisions banks and pay-platforms to send a 24-hour pre-transaction notification to users and mandates banks to send OTP to customers for payments above ₹5,000. Including payment wallets, the rule asks for additional authentication by customers for… read-more
According to reports, more companies could join hands to apply for the setting up of a new UPI-like digital payments system. Facebook, Amazon and Google, along with Visa and Mastercard, have already applied for licenses in India to operate the digital payments arena. Another consortium, led by Mukesh Ambani's Reliance with having Facebook and Alphabet Inc as members, has also applied. However, the RBI, in its notification, has indicated of … read-more
Courtesy: Zee News
With a 7% hike, over 968.7 million UPI transactions were done through digital payment app PhonePe in January. The app, leaving behind its competitor Google Pay, processed a total value of Rs 1.92 trillion. Moreover, 42% of the total Unified Payments Infrastructure (UPI) transactions were made through the app. However, the transactions on Google Pay showed a slight decline processing 853.5 million (37%) UPI transactions.