UNIFIED PAYMENTS INTERFACE
NPCI slashes MDR for debit cards
As per the latest notification, MDR has been revised to 0.60% for transaction above Rs. 2,000 with a maximum cap of Rs 150 per transaction. Presently, this is capped at 0.90% for transaction above Rs. 2,000 with higher cap of Rs 1,000 per transaction.
Morgan Stanley values PhonePe at $7 billion
This is the first time Phone-Pe’s valuation is being put out formally amid talks of its fundraise...
Payment platforms vie for merchant UPI transfers
PhonePe claimed it had recorded 90 million merchant transactions through the app in August a...
UPI dominance heats up payments race for cards
UPI has clocked transactions worth Rs 4.4 lakh crore in April-June period of 2019 while for debit and credit cards, the figure stands at Rs 3.4 lakh crore.
What are the charges you need to pay for Aadhaar card update?
As per the circular, the new charges for updation of demographic details such as name, address and a biometric update will be Rs 50. Earlier it was Rs 25.
UPI transactions top 900 million in August
July saw 822 million transactions; use may touch 1 billion in the upcoming festival months.
UPI entities may face cap on market share
The RBI had spoken about a similar risk on payments ecosystem while circulating a discussion paper on setting up other retail payment systems like UPI.
Tyagi moots single platform for gilts, corp bonds
Ajay Tyagi said corporate bond market can play an important role in pushing economic growth given the handicaps in the banking system.
Truecaller crosses 500 mn downloads & 150 mn daily active users globally, introduces new features
The caller ID app has crossed 1 million premium users globally.
Robust ecosystem has been enabled for startups: V Vaidyanathan, IDFC First Bank
Having started as an NBFC, Vaidyanathan recalled how the firm has created a loan book of Rs 30,000 crore, supported by India’s digital ecosystem that is enabled by the government.
MDR boost for merchants using UPI
This move is expected to encourage small grocery stores, chemists and kirana stores across the country to set up basic acceptance infrastructure such as QR code to receive payments made through UPI.
How fraudsters attempt to cheat OLX, Quikr users
To promote cybersafety in India, OLX has also partnered with Cyber Peace Foundation, a civil society organization and think tank of cyber security
India’s payment apps battle to catch China in squeezing out cash
That means Indians will continue to face a bewildering array of payments apps.
We have onboarded 150 billers and process 5 cr transactions a month: AR Ramesh, BBPS
New mandate on expanding services gives BBPS the opportunity to harness the system’s full potential.
Payment companies seek better MDR deal
Volume of transactions on mobile wallets down to 334 million in June against 393 million in December, according to latest RBI data.
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