On The Web

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Global

Cabinet Approves Incentive Scheme To Push Digital Payments

December 15 2021

• in
• India

“Aiming to promote digital transactions and incentivise users having Rupay debit cards and BHIM unified payments interface (UPI) system, the union cabinet on Wednesday approved reimbursement of ₹ 1,300 crore on such transactions. Elaborating about the cabinet’s decision, minister for electronics and IT Ashwini Vaishnaw told media persons that the government will reimburse transaction charges levied on digital payments […]

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Global

Proposed India Bill Banning Crypto Payments Could Mean Jail for Violations -document

December 8 2021

• in
• Cryptocurrencies
• India

“Proposed legislation that would ban the use of cryptocurrencies as a method of payment in India also seeks to make those who infringe the law subject to arrest without a warrant and being held without bail, according to a source and a summary of the bill seen by Reuters. Prime Minister Narendra Modi’s government has […]

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Global

WhatsApp Wins Approval to Double Payments Offering to 40 Mln Users in India -source

November 30 2021

• in
• India

“WhatsApp (FB.O) has won regulatory approval to double the number of users on its payments service in India to 40 million, a source with direct knowledge told Reuters on Friday. The company had requested that there should be no cap on users of its payment service in India. Instead, the National Payments Corporation of India […]

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Global

PhonePe crosses the 2 Billion monthly transaction mark

November 19 2021

• in
• India

“PhonePe, India’s leading digital payments platform today announced that it has processed over 2 Billion transactions on its platform in Oct’21. PhonePe is the market leader in UPI transactions, driving the highest number of P2P and merchant transactions in the country. It also has the pole position in Recharge and Bill Payment transactions via BBPS. […]

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Global

Google Pay’s handy split bill feature is coming to India later this year

November 19 2021

• in
• India

“Google Pay is one of the most frequently used payment services in India, where it’s the go-to app for UPI payments. Today, at the Google for India 2021 event, the search giant announced a couple of new features that will make the app even better. The bill split feature was first tested in Singapore before […]

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Deals

Paytm, a Payments Company, Is Aiming to Raise $2.5 Billion Amid India’s Stock Boom.

November 9 2021

• in
• India

“With stocks on a tear in India, the parent company of Paytm, a leading digital payments app, went public on Monday with hopes of becoming the country’s largest initial public offering… Paytm was founded in 2010 as a payments transfer business. It now allows users to send money to friends, buy small items like coffee […]

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Global

Buy Now, Pay Later Set to Surge Over Ten-fold in India

November 8 2021

• in
• India

“India’s buy-now-pay-later (BNPL) industry is booming and set to surge over ten-fold within four years as tens of millions of online shoppers get lured by interest-free credit with fewer hassles, market players told Reuters. Redseer estimates India’s BNPL market will rocket to $45-50 billion by 2026 from $3-3.5 billion now. The research firm also estimates […]

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Global

UPI Hits New Record With ₹7.71-lakh Crore Worth of Transactions in October

November 1 2021

• in
• India

“This was a 56% jump from ₹6.54 lakh crore worth transactions in September Amidst festival season sales and opening up of the economy, UPI transactions touched a record high at ₹7.71 lakh crore in value terms in October. This was a new record for UPI, which is fast becoming the most popular choice for digital […]

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Global

Why the QR Code Become Ubiquitous in India

October 25 2021

• in
• India
• QR codes

“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 […]

On The Wires

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Global

DLocal Launches Subscription Payment Solution for the Indian Market

November 3 2021

• in
• India

“dLocal, a technology-first payments platform that enables global enterprise merchants to connect with billions of consumers in emerging markets, announces today the launch of a new auto-debit payment solution for subscription business model companies in India. The solution is now available to both local and international merchants and is fully compliant with the new Reserve […]