Payments News

On The Web

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Companies

Apple to Launch First Online Store in India Next Week

“Apple Inc will launch its first online store in India on Sept. 23, the iPhone maker said on Friday, coinciding with the country’s holiday season that brings some of the biggest sales for retailers every year. Apple sells its products in India through third-party vendors and e-commerce operators such as Amazon.com Inc’s Indian unit and […]
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Global

Facebook Announces $4.3 Million Grant for Small Businesses in India, Introduces Support for Gift Cards

“Additionally, Facebook and Instagram have also launched capabilities for businesses in India to sell gift cards. “During the pandemic, it’s been inspiring to see how people and businesses have come together on the Facebook family of apps to support their local communities,” said Mohan. These gift cards, which will be issued by startups Quiksilver and […]
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Companies

Google Pay starts testing NFC-based card payments in India

“Google Pay in India ( formerly Tez ) quickly rose in popularity to become almost synonymous with the Unified Payments Interface (UPI) — the very platform it’s based on. Last September, the company announced plans to expand beyond UPI payments to support tokenized cards, but nothing materialized even months after that initial teaser. It looks […]
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Companies

NPCI launches international arm to take UPI, RuPay to other countries

“The National Payments Corporation of India (NPCI) has launched its international subsidiary NPCI International to take its hugely popular instant payment service Unified Payments Interface (UPI) and card network RuPay to international markets. NPCI’s expansion plans have been on the cards since last year. The formation of the new entity is the first definitive step […]
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Companies

Andhra Pradesh teams up with NPCI for digital payments in hinterlands

“Andhra Pradesh government has announced teaming up with the National Payment Corporation of India (NPCI) and Canara Bank to empower over 15,000 village and ward secretariats with digital payments in the rural areas. The initiative, aimed at providing impetus to digital payments among last mile customers towards financial inclusion was launched by the chief minister […]
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Companies

India watchdog throws out antitrust complaint against WhatsApp

“India’s antitrust watchdog has dismissed a case against Facebook’s WhatsApp, saying the company has not abused its dominant position to expand in the country’s digital payments market, according to an official order. A case in March alleged that WhatsApp was bundling its digital payment facility – WhatsApp Pay – within its messaging app for which […]
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Global

RBI releases draft guidelines for the proposed digital payments self-regulatory organisation

“The Reserve Bank of India has released the draft guidelines for the proposed Self-Regulatory Organization (SRO) responsible for setting and enforcing internal rules for the participants in India’s burgeoning digital payment ecosystem.The proposed SRO will be expected to act as a two-way communication channel between the payments industry and the central bank. It shall also […]
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On The Wires

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Domains

India’s Largest Bank Modernizes its Payment Switching System with ACI Worldwide Technology

“ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time digital payment software and solutions , has modernized payments infrastructure for ATM and point-of-sale (POS) at State Bank of India (SBI), the country’s largest bank with more than 440 million account holders. SBI is India’s largest public sector bank, with a network of more than […]