Diabytes
Unified Payment Interface News
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Check list of UPI-powered applications that support international merchant payments in countries outside India.
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The move is expected to bring significant benefits to the Maldivian economy, including increased financial inclusion, improved efficiency in financial transactions, and enhanced digital infrastructure, the President's Office said in a statement on Sunday.
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PM Modi has called it a special day for digital connectivity between India, Sri Lanka and Mauritius. "
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The launch will enable availability of UPI settlement services for Indian nationals travelling to Sri Lanka and Mauritius as well as for Mauritian nationals travelling to India.
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Last year, NPCI introduced UPI Lite, a method for sending or receiving payments of up to Rs 200, which has now been increased to Rs 500, in real-time without requiring a UPI pin. They can now send or receive small denomination amounts through UPI lite by adding the funds to an on-device UPI wallet.
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In his remarks, PM Modi also said the two countries have agreed to launch India's Unified Payment Interface in France. He also announced that India would open a new Consulate in the port town of Marseilles.
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PM Narendra Modi along with his Singaporean counterpart Lee Hsien Loong witnessed the launch of cross-border connectivity between the UPI and PayNow of Singapore via video conferencing.
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RBI to add a feature in the UPI platform to aid payments for e-com purchase, botel bookings, etc.
Single-block-and-multiple debits' feature will be added soon.
The new system will make the BBPS platform accessible to a wider set of individuals and businesses.
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In August 2020, the total number of Unified Payment Interface (UPI) based digital financial transactions stood at 6.57 billion (657 crore).
In July, India processed 6.28 billion UPI transactions worth Rs 10.62 lakh crore.
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UPI frauds have increased over the years.
There are some safeguards in place to reduce the chances of frauds.
You can prevent yourself from getting cheated on UPI.
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Axis Bank enjoys 20 percent market share in the UPI space.
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Tez, which means fast in Hindi, is a standalone payments app that can be downloaded on Android and iOS devices.
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Launch of HDFC Bank`s UPI on Chillr will benefit customers of 44 banks that will now be able to conduct digital transactions seamlessly using the Chillr app.
Unique Identification Authority of India (UIDAI) former chairman Nandan Nilekani today said with new digital payment systems like BHIM and UPI in place, around 15-20 per cent of the country's personal consumption expenditure will become digital in next one year from the current level of 5 per cent.
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The mobile app is available for download from Google play store.
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In the latest, around 15 banks (public and private) are preparing to come up with the unified payments interface (UPI) starting July 31.
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State-owned Punjab National Bank on Wednesday said it has launched many services, including SMS alert in Hindi and other languages and Indo-Nepal Remittance.
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Flipkart on Friday announced the acquisition of PhonePe, a city-based mobile payments company co-founded by the e-commerce giant's two former employees.
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