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Mumbai: As UPI-based digital payments surge, debit card-based transactions dropped almost 8 per cent from nearly Rs 43,350 crore in August to about Rs 39,920 crore in September, according to the Reserve Bank of India’s monthly data. On the other hand, credit card transactions grew in the country, which saw a nearly 5 per cent…
Male: Maldivian President Mohamed Muizzu has decided to take the necessary steps to introduce India’s Unified Payment Interface (UPI) in the Maldives. 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…
New Delhi: ICICI Bank on Tuesday announced that it has partnered with PhonePe to offer instant credit on UPI to its pre-approved customers on the app of the digital payments company. “The partnership enables millions of pre-approved customers of ICICI Bank to activate short term credit line instantly on the PhonePe app, and use it…
New Delhi: 3 out of 4 UPI users will stop using it if transaction fee is introduced online survey firm Localcircles has said. The survey asked 15,598 UPI users about their response if charges were to be introduced on UPI transactions, what format should be used. 75 percent respondents stated there should be no charge…
New Delhi: As India moves towards a cashless economy, online payments have become a vital part of daily life. UPI transactions are leading the way. However, for digital payments to work smoothly we must have a reliable internet connection. But sometimes, poor connectivity can get in the way which makes it difficult to complete online…
New Delhi: Around 75 per cent UPI users will stop using it if any transaction charge is levied on the service, a survey by Localcircles said on Sunday. The survey found that 38 per cent of users make over 50 per cent of their payment transactions via UPI instead of debit, credit or any other…
UPI Transaction Limit: The National Payments Corporation of India (NPCI) has increased the transaction limit for tax payments using UPI to help millions of taxpayers in the country. Now, individuals will be able to use the Unified Payments Interface (UPI) to pay taxes up to Rs 5 lakh per transaction from tomorrow Sept 16. Alignment…
India Credit Card Market: The number of credit cards in India is expected to reach 200 million with a CAGR of 15 per cent, highlighted a report by PwC.The report stated that the credit card industry has experienced significant expansion, doubling the number of credit cards issued over the past five years. This momentum is…
New Credit Card Rules On UPI: The National Payments Corporation of India (NPCI) has directed all banks issuing RuPay credit cards to make an upgrade in the rewards points, features, and benefits on UPI transactions. Notably, RuPay credit cardholders will experience an upgrade from today September 1. However, the decision will aim to standardise the…
New Delhi: Surpassing the world’s leading digital payments platforms, India’s Unified Payments Interface (UPI) processed nearly Rs 81 lakh crore transactions in the April-July period this year, which is a staggering 37 per cent increase (year-on-year). According to latest data by global payments hub Paysecure, UPI processed 3,729.1 transactions per second — a 58 per…