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Men wearing protective face masks on their chins, amid the coronavirus disease outbreak, watch a video on a mobile phone as they sit at a second-hand motor parts market in the old quarters of Delhi.(REUTERS)

Key indicators point to slowing business activity

Livemint, New Delhi | By Shreya Nandi and Gireesh Chandra Prasad
UPDATED ON DEC 23, 2020 06:05 AM IST
This loss of momentum in economic recovery for the first time in seven months from the turbulence caused by the pandemic could worry policymakers as they prepare for the federal budget.
Union minister Ravi Shankar Prasad(Sanjeev Verma/HT PHOTO)
Union minister Ravi Shankar Prasad(Sanjeev Verma/HT PHOTO)

DakPay: All about India Post Payments Bank digital payment app

Hindustan Times, New Delhi | By hindustantimes.com| Edited by Mallika Soni
PUBLISHED ON DEC 15, 2020 06:42 PM IST
DakPay will provide digital financial and assisted banking services provided by India Post and IPPB through the postal network across the country.
The bench was hearing a PIL filed by Viswam, a Communist Party of India (CPI) leader challenging the permission to WhatsApp to start UPI services.(File photo)
The bench was hearing a PIL filed by Viswam, a Communist Party of India (CPI) leader challenging the permission to WhatsApp to start UPI services.(File photo)

WhatsApp refutes in SC claims of ‘unsecure’ payment services system, says ‘Absolutely baseless’,

New Delhi | By Asian News International | Posted by Deepali Sharma
PUBLISHED ON DEC 14, 2020 07:09 PM IST
The plea also sought directions to the Reserve Bank of India for framing regulation to ensure that data collected on UPI platforms are not “exploited” or used in any manner other than for processing payments.
According to NPCI COO, there has been rise in digital engagements by giving reward programmes to customers.(Mint image for representation)
According to NPCI COO, there has been rise in digital engagements by giving reward programmes to customers.(Mint image for representation)

Pandemic increased momentum of digitisation, says NPCI COO

Kolkata | By Press Trust of India | Posted by Deepali Sharma
PUBLISHED ON DEC 12, 2020 02:45 PM IST
Chief Operating Officer (COO) of NPCI Praveena Rai said that pace of digitisation has also increased due to the regulatory framework and policies of the government and RBI.
Viswam, the Communist Party of India (CPI) leader, has sought a direction to the RBI and the NPCI to ensure that data collected on Unified Payments Interface (UPI) platforms is not shared with their parent company or any other third party under any circumstances.(HT Archive)
Viswam, the Communist Party of India (CPI) leader, has sought a direction to the RBI and the NPCI to ensure that data collected on Unified Payments Interface (UPI) platforms is not shared with their parent company or any other third party under any circumstances.(HT Archive)

SC to hear plea on framing of rules to ensure data security on UPI platforms

New Delhi | By Press Trust of India | Posted by Shankhyaneel Sarkar
UPDATED ON NOV 20, 2020 04:01 PM IST
The matter came up for hearing before a bench comprising Chief Justice SA Bobde and Justices A S Bopanna and V Ramasubramanian which listed it for hearing next week.
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)

Flawed regulation can undermine the digital payment ecosystem

By Anupam Manur
UPDATED ON NOV 11, 2020 08:32 PM IST
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
Small vendors on street sides are accepting PayTM as a mode of payment in New Delhi.(Saumya Khandelwal/HT PHOTO)
Small vendors on street sides are accepting PayTM as a mode of payment in New Delhi.(Saumya Khandelwal/HT PHOTO)

Paytm introduces Payout Links for businesses, enables money transfer sans collecting bank details

New Delhi | By Press Trust of India | Posted by Kanishka Sarkar
PUBLISHED ON NOV 10, 2020 05:22 PM IST
Paytm Payout is driven by APIs on Paytm for Business Dashboard to make bulk payments to bank accounts, UPI addresses, and Paytm Wallets instantly.
Google Pay, Walmart’s PhonePe and Paytm are among the TPAP players in the fast-growing UPI ecosystem, amid the sustained push for boosting digital payments in the country(File Photo)
Google Pay, Walmart’s PhonePe and Paytm are among the TPAP players in the fast-growing UPI ecosystem, amid the sustained push for boosting digital payments in the country(File Photo)

Capping market share of UPI players to impact users, may hit adoption in future: Industry experts

New Delhi | By Press Trust of India | Posted by Nilavro Ghosh
PUBLISHED ON NOV 07, 2020 02:23 AM IST
On Thursday, National Payments Corporation of India (NPCI) said a single Third Party App Provider (TPAP) can handle only 30% of overall UPI (Unified Payments Interface) transaction volumes. The cap shall be applicable with effect from January 1, 2021.
Silhouettes of mobile users are seen next to a screen projection of WhatsApp logo in this picture illustration.(Reuters Photo)
Silhouettes of mobile users are seen next to a screen projection of WhatsApp logo in this picture illustration.(Reuters Photo)

WhatsApp Pay now available for India users. Here’s how it will work

Hindustan Times, New Delhi | By hindustantimes.com | Edited by Meenakshi Ray
UPDATED ON NOV 06, 2020 04:57 PM IST
WhatsApp had in 2018 started testing its UPI-based payments service in India, which allows users to utilise the messaging platform to send and receive money. The testing was limited to about a million users as it waited for regulatory approvals to come in.
NPCI was incorporated in 2008 as an umbrella organisation for operating retail payment and settlement systems in India.(AFP)
NPCI was incorporated in 2008 as an umbrella organisation for operating retail payment and settlement systems in India.(AFP)

No fee will be charged for sending money via WhatsApp: Mark Zuckerberg

California | By Asian News International| Posted by Susmita Pakrasi
UPDATED ON NOV 06, 2020 09:15 AM IST
On November 5, the NPCI had stated that WhatsApp can expand its UPI user base in a graded manner starting with a maximum registered user base of 20 million in UPI.
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)

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

New Delhi | By Asian News International
PUBLISHED ON NOV 02, 2020 01:37 PM IST
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.
Currently, there are two interoperable QR codes -- UPI QR and Bharat QR.(Shutterstock file photo)
Currently, there are two interoperable QR codes -- UPI QR and Bharat QR.(Shutterstock file photo)

Reserve Bank bars payment system operators from launching new QR codes for transactions

Mumbai | By Press Trust of India | Posted by Niyati Singh
UPDATED ON OCT 23, 2020 02:39 PM IST
The Reserve Bank on Thursday barred Payment System Operators (PSOs) from launching any new proprietary QR code for payment transactions.
In 2017, Paytm had introduced a similar fee on amounts added to wallet via credit cards, but had rolled back the decision after pressure from users.(Mint)
In 2017, Paytm had introduced a similar fee on amounts added to wallet via credit cards, but had rolled back the decision after pressure from users.(Mint)

Paytm users to pay 2% charge on using credit cards to top up wallets

New Delhi | By Press Trust of India| Posted by Susmita Pakrasi
PUBLISHED ON OCT 17, 2020 07:58 PM IST
Paytm is also providing an offer, wherein users will get 2 per cent cashback up to Rs 200 on adding minimum Rs 50 using credit card, as per the message.
The court has also issued notices to the Reserve Bank of India (RBI) and National Payments Corporation of India (NPCI).(US File Photo)
The court has also issued notices to the Reserve Bank of India (RBI) and National Payments Corporation of India (NPCI).(US File Photo)

SC notice to Centre, Google, Amazon, FB on plea over protection of UPI transactions

Hindustan Times, New Delhi | By Abraham Thomas | Posted by Kanishka Sarkar
UPDATED ON OCT 15, 2020 03:02 PM IST
Senior advocate Shyam Divan appearing for Viswam said that RBI issued an order in April 2018 asking these multinational firms to ensure data transacted on these forums is secured in a server within India.
Mini apps are a custom-built mobile website that gives users app-like experience without having to download them.(Mint)
Mini apps are a custom-built mobile website that gives users app-like experience without having to download them.(Mint)

Paytm aims to support 1 million apps on Mini App Store

New Delhi | By Press Trust of India| Posted by Susmita Pakrasi
PUBLISHED ON OCT 08, 2020 02:09 PM IST
Paytm had said over 300 app-based service providers have already joined the programme, including the likes of Decathlon, Domino’s Pizza, FreshMenu, Netmeds, NoBroker, Ola, and more. These apps are expected to make their way to the Mini App Store soon.
Supreme Court of India(HT file photo)
Supreme Court of India(HT file photo)

Plea in Supreme Court over data protection in UPI platforms

Hindustan Times | By HT Correspondent, New Delhi
UPDATED ON SEP 11, 2020 05:59 AM IST
Viswam, a Rajya Sabha MP belonging to Communist Party of India (CPI), contended that RBI and NPCI are compromising interests of Indian users by allowing “non-compliant foreign entities” to operate its payment services in India in violation of right to privacy of millions of Indians who use online payment platforms.
Aadhaar architect Nandan Nilekani says the initiative will help utilise innovative credit products at scale.(HT Photos)
Aadhaar architect Nandan Nilekani says the initiative will help utilise innovative credit products at scale.(HT Photos)

Nilekani opens credit infrastructure to aid small businesses

Hindustan Times, New Delhi | By Tarush Bhalla & Shreya Nandi
UPDATED ON JUL 23, 2020 12:02 AM IST
Speaking at the Global Fintech Festival, 2020 on Wednesday, Nilekani, co-founder and non-executive chairman of Infosys Ltd, described the initiative as a credit protocol infrastructure called the Open Credit Enablement Network or OCEN.
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)

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

New Delhi | By Press Trust of India
PUBLISHED ON JUL 02, 2020 11:01 AM IST
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.
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)

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

By Varad Pande and Kriti Mittal
UPDATED ON JUN 11, 2020 07:17 PM IST
The government should now focus on creating digital commons, while ensuring robust privacy protection
Cyber cell officials said that during an investigation they came across 80 fake UPI IDs that were created around the same time in March when Prime Minister Narendra Modi announced the PM-Cares Fund.(File photo for representation)
Cyber cell officials said that during an investigation they came across 80 fake UPI IDs that were created around the same time in March when Prime Minister Narendra Modi announced the PM-Cares Fund.(File photo for representation)

Delhi Police probing two case of fake UPI IDs in name of PM-Cares Fund

Hindustan Times, New Delhi | By Karn Pratap Singh
UPDATED ON MAY 21, 2020 02:00 AM IST
Delhi Police cyber cell investigators traced people behind the fraud to some areas in Jharkhand, including Jamtara, which has emerged as a hub of cyber frauds such as phishing in recent years.
The coronavirus lockdown has brought a sea change in the buying behaviour of many Indians, such as purchasing vegetables and other consumables without asking for prices, far from the old habit of asking ‘dhaniya’ or ‘mirchi’ free from vendors(Unsplash)
The coronavirus lockdown has brought a sea change in the buying behaviour of many Indians, such as purchasing vegetables and other consumables without asking for prices, far from the old habit of asking ‘dhaniya’ or ‘mirchi’ free from vendors(Unsplash)

No more free dhaniya, mirchi: Lockdown brings change in buying behaviour, more older people hop onto digital tech

Delhi | By Press Trust of India | Posted by: Alfea Jamal
UPDATED ON MAY 11, 2020 02:10 PM IST
The coronavirus lockdown has brought a sea change in the buying behaviour of many Indians, such as purchasing vegetables and other consumables without asking for prices, far from the old habit of asking ‘dhaniya’ or ‘mirchi’ free from vendors.
In the district, most cyber fraud cases are related to unified payments interface (UPI) and KYC of e-wallets, followed by fake offers of lottery and jobs.(AP)
In the district, most cyber fraud cases are related to unified payments interface (UPI) and KYC of e-wallets, followed by fake offers of lottery and jobs.(AP)

Noida police urge people to beware of Covid related cyber frauds, issue advisory

Hindustan Times, Noida | By Tanmayee Tyagi, Noida
UPDATED ON APR 23, 2020 11:16 PM IST
Police said there have been a few cases wherein people have been defrauded of money after clicking on such links.
Unified Payments Interface (UPI) is an instant payment system developed by the National Payments Corporation of India (NPCI), an RBI regulated entity.(Photo Courtesy: NPCI)
Unified Payments Interface (UPI) is an instant payment system developed by the National Payments Corporation of India (NPCI), an RBI regulated entity.(Photo Courtesy: NPCI)

UPI transactions drop in March, RTGS shoots up due to lockdown

New Delhi | By Press Trust of India
UPDATED ON APR 21, 2020 10:35 AM IST
According to the data, the volume of UPI transactions in March slipped to 124.68 crore from 132.57 crore in February.
During the previous financial year, LIC has settled more than 7.5 lakh death claims with only 0.75 % of the total death claims reported remaining outstanding.(File Photo)
During the previous financial year, LIC has settled more than 7.5 lakh death claims with only 0.75 % of the total death claims reported remaining outstanding.(File Photo)

LIC steps up response to combat the impact of Covid-19

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON APR 11, 2020 08:21 PM IST
LIC of India has assured its policyholders that the Death claims arising due to COVID-19 shall be treated at par with other causes of death and payments shall be made on an urgent basis.
According to the complaint, the woman was sent a link through text message and asked to enter her UPI pin.(Twitter/ @UPI_NPCI)
According to the complaint, the woman was sent a link through text message and asked to enter her UPI pin.(Twitter/ @UPI_NPCI)

Woman dials RTO number, loses Rs 1 lakh through UPI fraud in Pune

Hindustan Times, Pune | By HT Correspondent
UPDATED ON APR 08, 2020 05:53 PM IST
The 41-year-old resident of Baner-Pashan link road area found the fraudster’s number in the list of regional transport office (RTO) contacts.
Honeymoon Holiday Cover is a comprehensive plan that secures you against a range of incidents.(Pexels)
Honeymoon Holiday Cover is a comprehensive plan that secures you against a range of incidents.(Pexels)

Why you should buy an insurance for your honeymoon

UPDATED ON DEC 13, 2019 01:09 PM IST
With Honeymoon Holiday Cover, you can avail coverage of up to Rs.3 lakh at an annual premium of just Rs.699.
India has the potential for “very rapid” economic growth over the next decade, says Bill Gates(Bloomberg)
India has the potential for “very rapid” economic growth over the next decade, says Bill Gates(Bloomberg)

India has potential for very rapid economic growth, says Bill Gates

New Delhi | By Press Trust of India
UPDATED ON JUL 25, 2020 10:25 PM IST
In an exclusive interview to PTI, Gates, the world’s richest person, specifically complimented India’s Aadhaar identity system and the country’s performance in the financial services and pharma sectors.
In August, the number of transactions via UPI hit a high of 918.35 million, worth Rs 1.54 trillion, on a par with debit card transactions.(Mint file)
In August, the number of transactions via UPI hit a high of 918.35 million, worth Rs 1.54 trillion, on a par with debit card transactions.(Mint file)

Conducive macroeconomic environment key to boosting digital payments: RBI report

livemint | By Shreya Nandi
UPDATED ON SEP 12, 2019 01:30 PM IST
The adoption of digital payments depends on supply side factors such as robust payments infrastructure, reduced cost of online payments, among others. UPI and wallets are giving stiff competition to debit and credit card based payments
The change in the payments landscape is a result of innovation coupled with the government and the banking regulator’s attempt to move to a ‘less-cash economy’.(Mint photo)
The change in the payments landscape is a result of innovation coupled with the government and the banking regulator’s attempt to move to a ‘less-cash economy’.(Mint photo)

UPI to witness massive growth over next 5 years, says report

livemint , New Delhi | By Shreya Nandi
UPDATED ON AUG 26, 2019 02:16 PM IST
Choices pertaining to the payments space during 2018-19 portrays a different picture, with ATM transactions being the highest. Going forward, ATM transactions are expected to comprise 5% of total transactions between 2021-22 and 2024-25.
BharatPe raised a Series A round of $15.5 million from Insight Partners.(Mint photo)
BharatPe raised a Series A round of $15.5 million from Insight Partners.(Mint photo)

BharatPe raises $50 million led by Ribbit Capital, Steadview Capital

livemint , Mumbai | By M. Sriram
UPDATED ON AUG 26, 2019 02:12 PM IST
The one-year old firm currently facilitates 18 million UPI payments every month. The startup had also forayed into lending earlier this year.
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