Paytm has completed the migration of merchant customer accounts from its payment bank to other unified payments interface (UPI) after it received a go-ahead from the National Payments Corporation of India (NPCI). On April 17, One97 Communications Limited (OCL), which runs Paytm, started the customer migration to partner with payment service provider (PSP) banks Axis … Read more
Mobile wallets are gradually gaining popularity in India and it is projected that the digital payment mode will cross traditional methods like cash and cards in the coming years. GlobalData, a leading data and analytics company, in its report, said mobile wallets and their usage is expected to grow at a compound annual growth rate … Read more
The National Payments Corporation of India (NPCI) has added a couple of new features for the RuPay Credit Card users on the Unified Payments Interface (UPI) platform, along with enhancements for credit lines on UPI. Users can now avail of EMI (Equated Monthly Installments) facility on the linked credit accounts through their UPI app. Besides, … Read more
The Reserve Bank of India’s action against online recharge and bill payment service PayTM has created uncertainty among small businesses and traders who rely on the service for their daily transactions. The RBI has barred Paytm Payments Bank (PPBL), which has over 30 crore wallets and three crore bank accounts, from offering all forms … Read more
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
India becoming the fifth largest economy from 11th in a decade is not a “mean achievement” and the people of India should take credit for it, Finance Minister Nirmala Sitharaman said here on Friday. India has overtaken the UK to become the world’s fifth-largest economy and is now behind only the US, China, Japan and … Read more
Equity in education isn’t the only major victim of a glaring digital divide. Equity ownership in primary listings also hinges as much on the robustness of India’s tech backbone – as evidenced in the latest flurry of digital mandates for top-flight IPOs. UPI mandates in June have also highlighted the gap in technology infrastructure between … Read more
Since the beginning of the Covid-19 pandemic, India has witnessed many behavioural changes of economic agents, with initial lockdown and subsequent reopening of the economy in phases. Such behavioural changes have resulted in a much faster economic recovery than anticipated not only in India but across economies. One such change that merits attention for policymaking … Read more
In 2021, India may record its fastest GDP growth in history, maybe 11-12%. This will, of course, represent the bounceback from the Covid-lockdown crash of 2020. With growth at minus 24% in the April-June quarter 2020, positive growth of 28-30% is possible in the corresponding quarter of 2021, lifting the average for the year. Forget … Read more
Vijay Shekhar Sharma, CEO and founder, Paytm on Thursday announced Rs 10 crore investment for mini app developers on Paytm Mini App Store. The platform was launched recently by the fintech giant days after the company, along with other startups accused Google of being unfair for charging 30% commission. “We are announcing a Rs 10 … Read more