UPI payment services launched in Sri Lanka, Mauritius; PM Modi describes it as 'special day'

UPI payment services launched in Sri Lanka, Mauritius; PM Modi describes it as 'special day'

The launching of UPI services in Sir Lanka and Mauritius enables the availability of UPI settlement services for Indian nationals travelling to Sri Lanka and Mauritius as well as for Mauritian nationals travelling to India. | Photo Credit: The Hindu India’s Unified Payment Interface (UPI) services were on February 12 rolled out in Sri Lanka … Read more

Samman RuPay Credit Card: IndusInd Bank floats UPI-enabled cards for government employees; Check details

Samman RuPay Credit Card: IndusInd Bank floats UPI-enabled cards for government employees; Check details

IndusInd Bank on Tuesday launched its UPI-enabled IndusInd Bank Samman RuPay Credit Card, in association with with National Payments Corporation of India (NPCI) especially for government sector employees. The cards have been launched for government sector employees to provide them with a range of exclusive benefits and enhance their overall banking experience. The Samman RuPay … Read more

UPI's increased transfer limit for hospitals will be applicable from January 10: NPCI

UPI's increased transfer limit for hospitals will be applicable from January 10: NPCI

The National Payments Corporation of India (NPCI) has asked its members to comply with the Reserve Bank of India’s (RBI’s) decision to increase the UPI transaction limit to Rs 5 lakh for hospitals and educational services by January 10. The NPCI has instructed banks, payment service providers (PSPs), and UPI applications to increase transaction limits … Read more

Year ender 2023: UPI transactions rose 147% in 5 years. A look at new features announced this year

Year ender 2023: UPI transactions rose 147% in 5 years. A look at new features announced this year

UPI transactions in 2023: India has witnessed an exceptional surge in Unified Payments Interface (UPI) transactions in 2023. In FY2022-23, 8,375 crore transactions were reported up from 92 crore transactions in FY 2017-18, showcasing a compound annual growth rate (CAGR) of 147% in terms of volume. UPI has emerged as a significant player in India’s … Read more

NPCI chief says basic UPI services will remain free

NPCI chief says basic UPI services will remain free

Kumarakom: The basic UPI services will continue to remain free, and India will reach an agreement with some of the countries by the end of 2023 to start a discussion on remittances and payments, said Dilip Asbe, managing director & CEO, National Payments Corporation of India (NPCI). “The basic services of UPI will continue to … Read more

RBI in final stages of retail CBDC pilot rollout

RBI in final stages of retail CBDC pilot rollout

The Reserve Bank of India (RBI) is in the final stages of the rollout of the retail central bank-backed digital currency (CBDC) that will be interoperable with the present forms of payment systems, people aware of the developments said. Officials indicated that the platform for CBDC is being hosted by the National Payments Corporation of … Read more

NPCI joins hands with brands, aggregators to introduce tokenization facility for Rupay card users

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The National Payments Corporation of India has joined hands with brands and aggregators such as bigbasket, Goibibo, MakeMyTrip, JioPay, and PhonePe to introduce tokenization facility for Rupay card users to enhance online transaction security. The facility will be supported by the recently launched NPCI Tokenization System (NTS). Tokenization will allow a seamless and convenient transaction … Read more

Automated debit transaction failure rate stays high in June

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Failure rates in automated debit transactions have remained stubbornly high in June indicating that financial stress due to localized lockdowns to curb the spread of the Covid 19 pandemic has still not subsided. Data from the National Payments Corporation of India’s (NPCI) National Automated Clearing House (NACH) platform shows that failure rates for debit transactions … Read more

Government asks NPCI to start electronic vaccine vouchers

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(This story originally appeared in on Jul 03, 2021) The government has asked the National Payments Corporation of India (NPCI) to launch a platform for electronic vaccine vouchers. These vouchers will be like electronic prepaid instruments that can be used only for vaccination. Employers can purchase these vouchers in bulk and these will be sent … Read more