Payments News

On The Web

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Global

Why the QR Code Become Ubiquitous in India

“The popularity of QR codes soared after payment companies (and other fintech players) started using it in conjunction with UPI, an instant payment system developed by the National Payments Corporation of India (NPCI). Startups like Paytm and PhonePe revolutionised its use in peer-to-peer payments. This trend started right after demonetisation in 2016, and gathered deeper […]
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Global

Buy-Now, Pay-Later Loans Help Fuel India’s Festive Recovery

“Indian consumers are ratcheting up buy-now-pay-later installment plans to purchase everything from washing machines to vacations online as the country’s longest festive season gets underway. Popularity is swelling for these small-sized loans that typically amount to less than 5,000 rupees ($67) as the labor market recovers from the pandemic shock. Those payments have been growing […]
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Global

RBI’s Auto Debit Rules Have Become Effective. Know More About Them Here

“From October 1 onwards, all kinds of recurring or repetitive payments, especially made through credit and debit cards and which are of value of ₹ 5,000 and above, are being preceded by a notification, 24 hours in advance, informing the customer about the scheduled payment. The advanced notification for executing recurring payments to customers being sent by […]
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Deals

Tiger Global in Talks to Lead Over $100M Investment in India’s Slice

“A number of high-profile investors are chasing to invest in Slice, a fintech startup that is attempting to expand the market for credit cards in India . Tiger Global is in advanced stages of talks to lead a round of over $100 million in the Bangalore-based startup, sources familiar with the matter told me. A […]
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Global

Paytm Blazed a Trail in Indian Fintech but Faces Crowded Market As IPO Nears

“Paytm, a pioneer in mobile payments in India and one of the country’s best-known startups, set out years ago to build an ubiquitous digital-finance ecosystem much like Ant Group Co.’s Alipay in China. Now, as Paytm’s owner nears a $2.2 billion listing that will see it beat Ant to the public markets , the company […]
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Global

India Launches Account Aggregator to Extend Financial Services to Millions

“India’s top banks five years ago built the interoperable UPI rails and enabled over 150 million people in the South Asian market to pay digitally. Scores of firms — including local firms Paytm, PhonePe, CRED and international giants Google and Facebook — in India today support the UPI infrastructure, which is now reporting 3 billion […]
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Global

American Express is ending support for Samsung Pay in India

“Samsung Pay was launched in India four years ago with support for credit cards and debit cards from various banks and financial institutions. American Express was among those banks that brought Samsung Pay support in the first phase. However, the bank has now announced that it will end Samsung Pay support in the country. American […]

On The Wires

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Global

NPCI and Fiserv Enable NFiNi- RuPay Credit Card Stack for Fintechs and Banks

“Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, has entered into a first-of-its-kind collaboration with National Payments Corporation of India (NPCI), which leads the retail payments and settlement infrastructure in India with breakthrough products like Unified Payments Interface (UPI), Bharat Bill Payment System, and RuPay, to enable the […]
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Global

PhonePe Launches the “Pulse” of Digital Payments, India’s First Interactive Geospatial Website

“PhonePe, India’s leading fintech platform, today announced the launch of PhonePe Pulse, India’s first interactive website with data, insights and trends on digital payments in the country. The PhonePe Pulse website showcases more than 2000+ Crore transactions by consumers on an interactive map of India. With  over 45% market share, PhonePe’s data is representative of the country’s digital payment habits.”