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Photo: Pinterest

India Records Over 25 Bn Digital Transactions In 2020, Beats China, US

India has recorded the highest number of digital transactions in 2020 globally, clocking over 25 billion transactions. China, South Korea, and the US logged only 15.7 billion, 6 billion, and 1.2 billion transactions respectively. Moreover, India's volume share for instant payments was 15.6%, which is expected to increase to over 37% by 2025. Notably, Universal Payment Interface (UPI) transactions has been continuously increasing in India for… read-more

Tue, 06 Apr 2021 - 02:03 PM / by Neha Sanjeev

Tags: UPI, Online Transactions, DIGITAL TRANSACTIONS, India

Courtesy: WION

GST To Be Included in UPI QR Code

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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

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

The UPI has recorded the highest volume in August with 1.5 Billion Transactions.

Photo: OP India

UPI Payments at Record High in August With 1.5 Billion Transactions

With over 1.5 billion transactions recorded in August, the Unified Payments Interface (UPI) logged its highest-ever volume of transactions. According to the Reserve Bank of India (RBI), there has been 1.56 billion transactions worth Rs 2.85 lakh crore processed in the month of August. This is the third consecutive month of record-breaking UPI transactions: In June the transactions' volume was 1.33 billion, which increased to 1.49 billion in… read-more

Tue, 01 Sep 2020 - 12:38 AM / by Anjali Bharti

Tags: Tech Industry, Technology, UPI, Google

Courtesy: ET Tech

WhatsApp Pay

Photo: WhatsApp

WhatsApp Payment to be Launched Soon in India; NPCI Nodded in Approval

WhatsApp may soon launch its payment service 'WhatsApp Pay' in India as it has received approval from the National Payments Corporation of India (NPCI) to meet its data localisation requirements. According to the rules of Reserve Bank on payments and transactions details, customer information, along with other information and the data, must be stored in India. WhatsApp now offers a trial for limited users.

Mon, 03 Aug 2020 - 04:22 PM / by D. RamaKrishnan

Tags: WhatsApp, RBI, UPI, NPCI

Courtesy: Money Control


UPI Payments In Full Bloom

UPI Transactions Hit All-time High In June, Cash-less Payments Become The New Normal

A steep decline in Unified Payments Interface (UPI) transactions in April due to the nationwide lock-down, has now subsequently grown by 9%, in June. According to the data shared by National Payment Corp India (NPCI) the value of these payments is worth Rs. 2.62 trillion. It is believed by experts that contact-less payments have risen due to the pandemic that has prompted people to avoid cash transactions.

Wed, 01 Jul 2020 - 07:07 PM / by Bhavyata Kagrana

Tags: UPI, June, NPCI, India

Courtesy: Livemint