Why charging for UPI changes the math
If ₹100 collected in MDR causes more than ₹100 of economic value to disappear elsewhere, the payment system ends up better funded and the country poorer Source link
Tag: National Payments Corporation of India
In graphs | Why private banks and foreign UPI apps stand to gain from the MDR charge
Transactions of ₹2,000 or more in essential and thin-margin sectors, such as railways, telecommunications, insurance, fuel, and agricultural inputs, will attract a flat MDR of ₹5 per transaction. File image for representation only. | Photo Credit: Allen Egenuse J The new Merchant Discount Rate (MDR) on UPI will affect a tiny proportion of UPI users,…
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AU Small Finance Bank unveils UPI for NRE, NRO account holders
AU Small Finance Bank (AU SFB), which recently got an approval from Reserve Bank of India (RBI) approval to turn into universal bank has launched Unified Payments Interface (UPI) services for its Non-Resident External (NRE) and Non-Resident Ordinary (NRO) account holders with international mobile numbers. This rollout follows the National Payments Corporation of India’s directive allowing UPI transactions through international mobile…
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Paytm shares jumped 5% in the morning trade on February 26, 2024
Paytm, on February 9, announced setting up of a group advisory committee to advise the company on strengthening compliance and on regulatory matters. | Photo Credit: The Hindu Shares of Paytm owner One97 Communications jumped 5% in the morning trade on February 26 after Reserve Bank of India (RBI) asked retail payment settlement body NPCI…
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Reserve Bank asks NPCI to help continue operations of Paytm app
The Reserve Bank of India is looking at ways to ensure Paytm customers can make seamless digital payments using the app after March 15, 2024. File | Photo Credit: Reuters The Reserve Bank of India (RBI) said the National Payments Corporation of India (NPCI) has been asked to examine the possibility of it becoming a third-party…
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Made Payment To Wrong UPI Address? Here’s How To Reverse It
UPI has revolutionised digital transactions in recent years. Digital transactions have revolutionised the way we conduct financial activities today. These transactions involve the electronic exchange of money or assets between parties, often facilitated through online banking, mobile apps, or digital wallets. This is made possible by Unified Payments Interface (UPI), an instant payment system developed…
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You Can Now Make Voice-Enabled UPI Payments. Here’s How
Mumbai: The NPCI on Wednesday launched a slew of new payment options on popular payments platform UPI, including conversational transactions. Reserve Bank of India (RBI) Governor Shaktikanta Das announced the launch of the products by the National Payments Corporation of India (NPCI) at the ongoing Global Fintech Festival. The latest offerings — Credit Line on…
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