E-payments News

The rapid rise of third-party electronic payments is boosting China`s online consumer market growth and it will support its economy`s rebalancing, a Moody`s report said.

Australian government has advised its citizens travelling to India to ensure their trip is planned in such a way so as not to depend on the availability of cash, claiming that some visitors are facing difficulties in exchanging 100 dollar notes in India after demonetisation.

Following the demonetisation move by Prime Minister Narendra Modi, the government has pushed for and encouraged e-payments or digital transactions to fight against black money and corruption.

Mobile payments company Paytm is still facing issues in transacting as many users have complained that money was deducted from their bank accounts but did not reach the e-wallet.

Customers of state-run telecom firm BSNL will get 0.75 discount on online or electronic payment of their bills, telecom minister Manoj Sinha said on Wednesday.

In the wake of the demonetisation move taken by the government and to promote cashless transaction, Finance Minister Arun Jaitley on Thursday announced a list of sops for digitals users such as Rs 10 lakh insurance for railway tickets books online.

In order to facilitate e-commerce, RBI Thursday permitted banks to enter into pacts with Online Payment Gateway Service Providers (OPGSPs) for import payments.

Tech giant Samsung Electronics Co Ltd said on Wednesday that it will expand its Samsung Pay mobile payments service to markets such as China and Europe after an initial launch in South Korea and the United States later this year.