The retail payments body has asked banks to implement both the emandate measures by June 30.
A success rate of more than 85% for UPI is ‘commendable’ given that cards are also in the range of 90%, top executives in the payments industry said.
RBI's sandbox initiative will help fintech startups test their products within the compliance framework.
HIGH RISE: Share of RuPay among overall card payments rose to 24% in January compared to less than 14% in May 2018.
Startups are now offering a broader set of banking services, pointing to a deep integration with lenders that could change banking in many ways.
Top funding deals in the works in startupland Sequoia and other existing investors likely to lead new round, valuing the firm at $400 million
The company does not share details of the exact number of users on its platform, but sources said it may be in the range of 7 lakh.
Expected to buy up to 75% stake in Chaitanya Rural Intermediation Development Services.
Sachin Bansal is expected to buy up to 75% stake in Chaitanya Rural Intermediation Development Services.
With economies of scale kicking in and opportunities to cross-sell and charge advisory fee, there’s already a degree of monetisation in the space making it attractive for investors.
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