KNOW ALL ABOUT : UPI
Unified Payments Interface (UPI) allows easier real-time transfer of money between bank accounts using smartphones. UPI will completely do away with any addition of a beneficiary along with the account number and IFS Code, as the technology requires just a virtual handle for instant peer-to-peer payments. Read ET stories to know more about the process.
Digital payment companies seek compensation from govt for losses due to zero merchant fee
In letters to finmin, MeitY and RBI, industry body has sought compensation for any losses t...
It’s a ‘request’ on your UPI. Only, you’ll lose money
The rising popularity of UPI apps, coupled with users’ unfamiliarity with a certain feature in them, could be responsible for m...
1.75 lakh entities withdrew over Rs 1 crore each from bank accounts in 1 year
Through the proposed 2% TDS, govt hopes to improve tracking of entities that withdraw large amounts of cash.
Budget 2019: Companies to now have compulsory digital payment options
Govt's objective of creating a less cash digital economy got a serious push in the union budget.
Not charging extra for digital transactions: Paytm
"Paytm customers will continue using all the services available on the platform without any fee," Paytm said in a statement.
Post- Pulwama, over 12-fold rise in donations for martyrs
Funds were also donated directly to the next-of-kin of martyred personnel, with Rs 14.20 crore contributed until June 18 this year as compared to Rs 6.58 crore in whole of 2018 and Rs 11 crore in 2017.
Shell out MDR charges on Paytm transactions from today
The new levies will be applicable for paying bills or school fees and buying tickets.
Digital payments zoom past FY19 target driven by private lenders
Online transactions rise to 31.34 billion compared to 20.7 billion in FY18; Yes Bank, IndusInd, ICICI Bank lead the charge.
Fingerprint messages to ensure traceability: Government to WhatsApp
The govt has asked WhatsApp to digitally fingerprint every message sent without breaking the encryption.
View: Cashless India could be a model for the world
With fair competition between local players and global tech, a 10-fold growth in digital transactions may not be a pipe dream.
UPI transactions fall 6% in May
However, amount transferred registered a record high of Rs 1.5 lakh crore last month
Govt eyes 40 billion e-transactions in FY20
For the financial year ended March 2019, the target was of about 30 billion digital transactions, of which 90-95% was met.
Debit card PoS swipes rise 27% as per RBI data
RBI numbers for March 2019 shows ATM withdrawals growing at a slower pace of 15%
Government writes to banks on patchy PoS numbers
Banks were allocated targets of 20 lakh physical and mobile PoS deployment in FY19 but achieved only 44% of the target by the end of January.
QR code option may be must for shops
The move follows a goahead by the GST Council before the elections and now the details of the payment mechanism are being worked out.
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