RBI Governor said that the pilot of this innovative technology facilitating digital payments in offline mode has been successful and the learnings indicate that there is a scope to introduce such solutions, especially in remote areas.
e-RUPI is a cashless and contactless instrument for digital payment, an official statement said, adding, it is a QR code or SMS string-based e-voucher, which is delivered to the mobile of the beneficiaries.
Bengaluru: Online transactions saw a growth of 76 per cent in the first quarter of 2021 as compared to 2020, as tier 2 and 3 cities and towns continued to…
New Delhi: With the rise in usage of digital modes of transactions and the growing market of digital payment services, India is likely to contribute around 2.2 per cent to the sector by 2023, said a report by the Payments Council of India and PWC. The report titled ‘Empowering payments’: Digital India on the path […]
New Delhi: Digital payment has been one of the key features of the government’s ‘Digital India’ initiative and online payment platforms and services have indeed spread themselves in the country. However, its penetration and acceptance in the tier-II and tier-III cities still face some obstacles, market players said. According to Credit Suisse report, India’s mobile […]
New Delhi: Digital payments in India are witnessing thriving growth with a compound annual growth rate (CAGR) of 12.7 per cent in the number of non-cash transactions, global advisory KPMG said on Thursday. A KPMG report said that the mobile payment revolution in the country has led to a boom in the number of merchants […]
In a bid to promote digital payments and eliminate plastic cards, the State Bank of India(SBI) may herald the beginning of the end of the ubiquitous debit cards from the banking system. This is despite the huge reliance on debit cards by customers of SBI which services a fifth of the population. “…it is our wish […]
New Delhi: In a mega-campaign of Rs 200-250 crore, India’s leading digital payment platform Paytm will now allow scanning of any QR code, be it BHIM UPI, Google Pay, from its app to make an insta-payment at offline retail stores. The move is expected to benefit the small kirana stores which have become well-versed with […]
New Delhi: Digital payments firm Paytm on Monday said it enabled seven crore UPI-based merchant transactions out of the total 12 crore transactions in the country in May 2019. The firm has also enabled its 1.2 crore partner merchants so far to accept payments through Paytm BHIM UPI. “The platform clocked over 70 million (seven […]
New Delhi: With the government on Monday refusing to relax the Reserve Bank of India’s (RBI) October 15 deadline for data localisation, the road ahead has become tough for global digital payment providers who have sought more time to comply with the guidelines. The RBI guidelines say that all digital payment firms like Google Pay, […]
New Delhi: The share of railway tickets booked using digital modes of payment increased to 66 per cent of the total reserved tickets in 2017-18 from 60 per cent in 2016-17, Minister of State for Railways Rajen Gohain told the Rajya Sabha today. This year (till June), approximately 68 per cent of total reserved tickets […]
New Delhi: Customers will no more have to pay any transaction charges for payments through debit card, BHIM app and other payment made for up to Rs 2,000. Last month, the Union Cabinet had approved a proposal that government will bear the merchant discount rate (MDR) charges on transactions up to Rs 2,000 made through […]
Mumbai: After offering cross-border payments in the country for close to a decade, the Global digital payments major PayPal on Wednesday announced its India operations. In a statement issued here PayPal Holdings, Inc, said: “At launch, Indian consumers can use PayPal to shop online at some of India’s most popular businesses.” “Merchants offering PayPal will […]
New Delhi: In a move to encourage digital payment of electricity bills on time, BSES, one of the two power distribution companies (discoms) in Delhi, on Thursday announced a cash back scheme by which consumers stand to benefit by up to Rs 300 per month if they pay their bills through the digital payment platform […]
New Delhi: Joining the digital payment bandwagon in India, Google is reportedly launching a Unified Payments Interface (UPI)-based digital payment service called “Tez” as early as next week. According to The-Ken.com, on September 18, “Google, Alphabet Inc’s subsidiary, will make an entry into India’s fast growing and super competitive digital payment ecosystem”. According to the website, […]
Bhubaneswar: Taking note of the insurmountable difficulties faced by the people, especially in the rural areas, due to the effect of demonetisation, the Odisha government has decided to expedite the process to provide banking service in the unbanked rural areas. A decision to this effect was taken at a high level meeting presided over by […]