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Companies

India Found Cybersecurity Lapses at National Payments Corp in 2019

“A government audit of India’s flagship payments processor last year found more than 40 security vulnerabilities including several it called “critical” and “high” risk, according to an internal government document seen by Reuters. The audit, which took place over four months to February 2019, highlighted a lack of encryption of personal data at the National […]
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Companies

NPCI Weighs Cap on UPI Transactions for Payment Platforms

“The National Payments Corporation of India (NPCI) is thinking of ways to limit the Unified Payment Interface’s (UPI) dependence on any single third-party application.It proposes to do this by restricting the share of transactions of any single payment company, people familiar with the matter said.NPCI owns and operates UPI in the capacity of a not-for-profit […]
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Companies

Digital Payment Adoption Rates Vary Across States

“Indians averaged about 3.85 digital transactions per person between July 2019 and July this year with Chandigarh leading at 38.4 transactions per person. Delhi averages about 9.3 transactions per person, according to the Digidhan database maintained by the Ministry of Electronics and Information Technology (MeitY). It tracks digital transactions across National Payments Corporation of India […]