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

TerraPay, NPCI World tie-up to permit cross-border transactions by way of UPI

UK-headquartered TerraPay has partnered with NPCI World Bills Restricted (NIPL), the world arm of Nationwide Bills Company of India (NPCI) to permit Indian shoppers and traders with an energetic Unified Bills Interface (UPI) ID to make and settle for cross-border bills. Via this collaboration, Indian shoppers with energetic UPI IDs (350 million financial institution accounts) … Read more

Union Financial institution of India launches bank card on UPI and UPI Lite

Union Financial institution of India is the pioneer Financial institution to release Credit score Card cost thru UPI and UPI Lite. This was once introduced in Mumbai by means of RBI Governor Shaktikanta Das within the presence of  Nandan Nilekani, marketing consultant to NPCI at a International Fintech Fest. With the release of UPI Credit … Read more

Shoppers of those 3 banks will probably be first to make use of RuPay bank cards on UPI

Reserve Financial institution of India (RBI) Governor Shaktikanta Das on Tuesday introduced the Rupay bank card on Unified Bills Interface (UPI) community, a transfer that professionals imagine has the possible to extend the marketplace for credit score by way of nearly 5 instances. Recently, UPI is related thru debit playing cards and financial institution accounts. … Read more

UPI for function telephone seeing early traction: NPCI

“It is so simple as moving cash from A to B. (Use circumstances contain) Fastag recharges in your vehicles, insurance coverage bills, and equated per thirty days instalments (EMI) collections,” Praveena Rai, leader running officer, NPCI, mentioned on the International Fintech Fest. Those are one of the early use circumstances which can be very context-specific … Read more

Different international locations involved in India’s cost channels, says finance minister

Mumbai: Lauding India’s strides within the bills house, finance minister Nirmala Sitharaman on Tuesday mentioned it has generated passion from Singapore, Bhutan, and France. “Nations comparable to Singapore, Bhutan, France’s Lyra, and likewise many others are seeing the use for RuPay playing cards and the unified bills interface (UPI),” Sitharaman mentioned on the World Fintech … Read more

RBI paper on bills poses questions, gives no solutions

MUMBAI : A Reserve Financial institution of India dialogue paper on fee fees launched on Wednesday has disillusioned the business and analysts alike, because it raises more than one questions however does no longer be offering answers or take any stance on them, resulting in persevered uncertainty. The paper refers to how some fee mechanisms … Read more

IMPS, NEFT, RTGS, UPI: RBI seeks public comments on adjustments in fee methods

Mumbai: The Reserve Financial institution of India (RBI) has invited comments from the general public at the more than a few adjustments proposed within the bills device. Comments could also be supplied in appreciate of questions raised therein, together with different related tips, via electronic mail on or earlier than October 3, 2022, the RBI … Read more

UPI on Rupay bank cards anticipated in two months

MUMBAI: The umbrella entity for retail bills, Nationwide Bills Corp. of India (NPCI), expects to operationalise linking Rupay bank cards to the unified bills interface (UPI) community in a few months, its leader government Dilip Asbe mentioned on Friday. “We’re chatting with BoB Playing cards, SBI Playing cards, Axis Financial institution, and Union Financial institution … 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