Business awaits UPI in additional credit score merchandise

MUMBAI : Days after the Nationwide Bills Corp. of India introduced Unified Bills Interface (UPI) by way of bank cards at the RuPay community, banks and fintech firms be expecting that UPI is also prolonged to different credit score merchandise, comparable to Purchase Now Pay Later (BNPL), as neatly. That aside, the trade additionally expects … Read more

Inside of Uni’s hunt for a comeback course

3 weeks later, the boldness gave strategy to unexpected panic. On 20 June, a Reserve Financial institution of India (RBI) round barred firms from loading PPIs akin to pay as you go playing cards or cell wallets the use of credit score traces issued through non-banking monetary companies (NBFCs) and banks. The central financial institution … Read more

Emerging bank card, UPI bills point out building up in intake: File

Amid restoration in financial actions with ebbing affect of Covid pandemic, emerging bank card and UPI bills point out in opposition to building up in intake, say professionals. The Unified Bills Interface (UPI) transaction higher from ₹9.83 lakh crore in April this 12 months to ₹10.73 lakh crore in August, the RBI’s per 30 days … Read more

Bank card spends in June more likely to melt however to stick over ₹1 lakh cr mark: Record

Trade-wide bank card spends stayed above ₹1 lakh crore mark for the 3rd consecutive month in Might to ₹1.14 lakh crore registering a expansion of 8% on a month-on-month foundation. With that, the business’s bank card spends is at an all-time top. HDFC Financial institution and SBI Card bank card spends greater than doubled within … Read more

Bank card spends contact all-time excessive

MUMBAI : Bank card spends touched an all-time excessive of ₹1.14 trillion in Would possibly, an indication that the retail economic system is rising sturdy.  Bank card spends grew 118% year-on-year and eight% month-on-month at the again of sturdy e-commerce spending and high-value spending on trip and tourism and discretionary purchases, consistent with Reserve Financial … Read more

Pandemic-driven surge of contactless bills set to proceed

“One in each six face-to-face transactions is contactless in India,” mentioned Ramakrishnan Gopalan, vice-president and head of goods and answers, India and South Asia, Visa. Visa isn’t the one one experiencing this type of enlargement. Additionally, contactless bills come with a lot more than debit and bank cards designed to take away touch from offline … Read more