UPI Payments

Photo: OP India

UPI Payments Are Still Free For People, Confirmed NPCI

Clearing the misinterpretation, the Government of India confirmed that UPI payments are free with no other additional charges. A news that UPI payments will attract additional charges went viral on social media and triggered panic amongst people, using the digital payment mode for important transactions. However, the authorities confirmed that the 1.1 per cent interchange charge is only applicable on prepaid payment instrument merchant… read-more

Wed, 29 Mar 2023 - 03:29 PM / by Varsha Joshi

Tags: UPI Payments, NPCI, 1, 1% Charges, Misinterpretation, GoI

Baba Ramdev and Patanjali co-founder Acharya Balkrishna

Photo: The Hindustan Times

Patanjali Launches Triple Benefit Credit Card With PNB

Patanjali Ayurved Limited and Punjab National Bank launched co-branded credit cards in partnership with the National Payments Corporation of India, on March 2. The cards will be offered on NPCI’s RuPay Platform which will include a 5-10% discount on the purchase. The event was attended by Baba Ramdev and Patanjali co-founder Acharya Balkrishna. "This is in accordance with the commitment of PM Narendra Modi of Aatma Nirbhar Bharat," said… read-more

Thu, 03 Mar 2022 - 01:52 PM / by Madhvi Jha

Tags: Patanjali, Guru Baba Ramdev, NPCI, PM Narendra Modi, RuPay

Courtesy: ANI

RBI Logo

Photo: The Print

RBI Mandates Banks, Payment Platforms To Inform Customers For Auto Bills

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

Tue, 30 Mar 2021 - 08:01 PM / by Sohini Mandal

Tags: RBI, Digital Payment, OTT, Recurring payments, NPCI

Courtesy: NDTV

GST To Be Included in UPI QR Code

Photo:india fillings

Govt Adds GST In UPI QR Code To Give Fiscal Incentive For E-Payments

The National Payments Corporation of India (NPCI) is working on introducing a GST section in the UPI QR code. Reportedly, the move will provide easy access for the government to calculate the fiscal incentives for digital payments. While speaking at an event, the NPCI CEO Dilip Asbe said the NPCI is working with banks and payment companies to handle a billion UPI transactions daily. Asbe added, “UPI has grown 250% in nine months.”

Wed, 10 Mar 2021 - 09:10 PM / by Neha Sanjeev

Tags: QR Codes, UPI, NPCI, GST


Photo: News Chant

Amazon, ICICI Bank, Axis Bank Join Hands To Build New UPI-like Network

Amazon will be collaborating with ICICI Bank, Axis Bank and Visa to set up a national payments network in India. The proposed entity, 'New Umbrella Entity (NUE)', will compete against National Payments Corp of India which dominates the country's digital sphere with its UPI. Pine Labs and BillDesk are also a part of the consortium that is eyeing the NUE. Interestingly, India's digital market has shown annual growth rate of 55% in last 5 years… read-more

Thu, 25 Feb 2021 - 02:45 PM / by Ronit John

Tags: NPCI, UPI, Amazon, Visa, Axis Bank

Courtesy: The Economic Times


Photo: Forbes

PhonePe Tops Among UPI Apps; Clocks 42% Of Overall Jan Transactions

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.

Sun, 07 Feb 2021 - 07:38 PM / by Nikita Thakur

Tags: phonepe, Google Pay, UPI, NPCI, Digital Payment App, Digital Payment

Courtesy: LiveMint


Photo: Decan Herald

Snapdeal Joins Hand With NPCI To Help Buyers Pay Through QR Codes

Partnering with National Payment Corporation of India, e-commerce platform Snapdeal has allowed its users to pay via QR-based payment option. The move aims to target new customers who are not comfortable with pre-paid orders. Under the arrangement, buyers will pay by scanning the QR code generated by delivery person through any UPI-linked payment app. The NPCI Marketing Chief Kunal Kalawatia said the process will be secured, hassle-free and… read-more

Fri, 18 Dec 2020 - 11:50 AM / by Rashi Jain

Tags: Snapdeal, NPCI, Digital, UPI, QR-code, E-commerce

Courtesy: LiveMint

Payment Operators

Photo: TechQuila

Google Pay, PhonePe Account For 81% Of Total UPI Transactions In Oct

According to the NPCI, online payments operators Google Pay and PhonePe have jointly accounted for about 81% of the total digital transactions in October. While the Google Pay logged UPI transactions worth Rs 1,65,654.71 crore, PhonePe registered transactions worth Rs 1,68,085.06 crore. Though PayTM (Rs 27,489.33 crore) and Amazon Pay (Rs 3,854.49 crore) have made significant leaps the… read-more

Tue, 08 Dec 2020 - 09:40 AM / by Richa Nigam

Tags: Google Pay, phonepe, Paytm, NPCI

Courtesy: LiveMint

Representational Image of WhatsApp Pay

Photo: Representative Image/Financial Times

WhatsApp Pay Gets Approval For UPI In Graded Manner

Facebook's WhatsApp Pay on November 5 received approval from the National Payments Corporation of India (NPCI) to go live on the Unified Payment Interface (UPI) system. However, NPCI has allowed Facebook to execute it only in a graded manner by adding a maximum of 20 million users in the first phase. WhatsApp Pay was already launched in India as a Beta version in 2018 with around one million users.

Fri, 06 Nov 2020 - 12:21 AM / by Mahadevan K V

Tags: WhatsApp Pay, UPI, NPCI, Facebook

Courtesy: Live Mint