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Flawed regulation can undermine the digital payment ecosystem

The National Payments Corporation of India’s (NPCI) announcement on the limits placed on Unified Payments Interface (UPI) transactions for third-party apps is flawed
The given justification for this rule by NPCI was to “address the risks and protect the UPI ecosystem as it further scales up”. Unfortunately, this justification raises more questions than provides answers. The new rule is both unnecessary and inconsistent for a set of reasons.(MINT)
The given justification for this rule by NPCI was to “address the risks and protect the UPI ecosystem as it further scales up”. Unfortunately, this justification raises more questions than provides answers. The new rule is both unnecessary and inconsistent for a set of reasons.(MINT)
Updated on Nov 11, 2020 08:32 PM IST
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By Anupam Manur

WhatsApp gets India permit to go live with payments service. How it can affect payment markets

WhatsApp pay can go live using the homegrown, multibank Unified Payments Interface, the National Payments Corporation of India said in a statement Thursday.
India’s payments market is crowded with domestic pioneer Paytm, Alphabet Inc.’s Google Pay, Walmart Inc.’s PhonePe, Amazon.com Inc.’s Amazon Pay and dozens of other startups(REUTERS)
India’s payments market is crowded with domestic pioneer Paytm, Alphabet Inc.’s Google Pay, Walmart Inc.’s PhonePe, Amazon.com Inc.’s Amazon Pay and dozens of other startups(REUTERS)
Published on Nov 06, 2020 09:57 AM IST
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Bloomberg | By Bloomberg

UPI payments grow 80% in a year with over 2 billion payments: NITI Aayog CEO

As per Kant, the transaction volume has grown 80 per cent in a year’s time as there were 1.14 billion payments made through UPI in October last year.
The peak in digital mode of payments by users has come amid the coronavirus phase, as also the festive season began in the country.(Hindustan Times)
The peak in digital mode of payments by users has come amid the coronavirus phase, as also the festive season began in the country.(Hindustan Times)
Published on Nov 02, 2020 01:37 PM IST
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New Delhi | By Asian News International

UPI payments hit all-time high of 1.34 billion transactions in June

UPI payments had fell to 999.57 million in terms of volume with transactions worth Rs 1.51 lakh crore in April, following the coronavirus-induced lockdown that halted almost all services, except essentials.
NPCI was incorporated in 2008 as an umbrella organisation for operating retail payments and settlement systems in India. It has created a robust payment and settlement infrastructure in the country.(NPCI)
NPCI was incorporated in 2008 as an umbrella organisation for operating retail payments and settlement systems in India. It has created a robust payment and settlement infrastructure in the country.(NPCI)
Published on Jul 02, 2020 11:01 AM IST
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New Delhi | By Press Trust of India

Covid-19 has opened the doors for Gov Tech 3.0 | Analysis

The government should now focus on creating digital commons, while ensuring robust privacy protection
Many countries, including India, have deployed contact tracing apps developed through public-private partnerships, to prevent the spread of the virus, and are crowd-sourcing relevant information from citizens(AP)
Many countries, including India, have deployed contact tracing apps developed through public-private partnerships, to prevent the spread of the virus, and are crowd-sourcing relevant information from citizens(AP)
Updated on Jun 11, 2020 07:17 PM IST
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By Varad Pande and Kriti Mittal

Over 100 government websites hacked during January-November 2018, says IT ministry

To another query, minister of state for electronics and IT S S Ahluwalia said a total of three, 14 and six financial fraud incidents affecting ATMS, cards, point of sale (PoS) systems and Unified Payment Interface (UPI) have been reported during the years 2016, 2017 and 2018 (up to November), respectively.
Computer hacker. Internet crime working on a code on laptop screen with dark digital background. Cyber attack in cyberspace concept(Getty Images/iStockphoto)
Computer hacker. Internet crime working on a code on laptop screen with dark digital background. Cyber attack in cyberspace concept(Getty Images/iStockphoto)
Published on Dec 19, 2018 07:38 PM IST
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New Delhi | By Press Trust of India

Paytm registers 600% growth in UPI transactions in 6 months

Paytm on Friday said it witnessed 600 % growth in the Unified Payments Interface (UPI) transactions in the last six months. The platform registered over 179 million UPI transactions in October.
Paytm registers 600% growth in UPI transactions in 6 months(HT File Photo)
Paytm registers 600% growth in UPI transactions in 6 months(HT File Photo)
Published on Nov 02, 2018 12:59 PM IST
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New Delhi | By Indo Asian News Service

Mobile phones, not cards, lead India’s digital payments push

Mobile phones have become a bigger source of non-cash payment methods in retail transactions than customers swiping their cards at Point of Sale (POS) machines.
The Indian digital payment revolution seems to be taking a different route.(AFP File Photo)
The Indian digital payment revolution seems to be taking a different route.(AFP File Photo)
Updated on Oct 26, 2018 11:46 AM IST
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Hindustan Times, New Delhi | By Roshan Kishore

Cyber fraudster blocks Mumbai woman’s SIM, withdraws 73,100 from her account

Police said such cases are on the rise, wherein the criminal changes mobile phone details in the victim’s bank records to reflect his own number.
The accused called her and shared a 19-digit SIM number with her.(HT Photo/Representational Image)
The accused called her and shared a 19-digit SIM number with her.(HT Photo/Representational Image)
Updated on Jun 23, 2018 01:40 PM IST
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Hindustan Times | By Faisal Tandel, Mumbai

WhatsApp may be sharing your payments data with Facebook

According to NPCI, the banks associated with third-party payment apps like WhatsApp and PhonePe need to get exclusive permission from NPCI before they share customer data.
WhatsApp launched payments on trial for some of its users in February. It is expected to introduce the service to all its users soon.(AFP File Photo)
WhatsApp launched payments on trial for some of its users in February. It is expected to introduce the service to all its users soon.(AFP File Photo)
Updated on Apr 10, 2018 07:16 AM IST
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Livemint, New Delhi/Bengaluru | By Shrutika Verma and Mihir Dalal
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