Mobile wallet usage in India to grow at 18.3%, touch $6.4 trillion in 2028

Mobile wallet usage in India to grow at 18.3%, touch $6.4 trillion in 2028

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

Hyderabad merchants gear up for a smooth ride amid Paytm fiasco 

Hyderabad merchants gear up for a smooth ride amid Paytm fiasco 

  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

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

India becoming 5th largest economy not a mean achievement: FM Nirmala Sitharaman

India becoming 5th largest economy not a mean achievement: FM Nirmala Sitharaman

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

IPO mandates via UPI: High decline rates at smaller PSU banks worry stakeholders

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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

View: Four ways in which the Budget can fulfil Modi’s dream of a digital India

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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

View: India may see freakish high growth in 2021 and three things in the big picture

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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

Paytm announces Rs 10 crore fund for mini app developers on Paytm Mini App store

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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

Digital payment transactions in India rise 23% between June 3-July 2: Report

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NEW DELHI: Digital payment transaction saw a 23 per cent jump in the past one month, signalling a rebound after the decline seen during the nationwide lockdown, according to a report by fintech platform Razorpay. The report analysed consumer behaviour and digital spending patterns during lockdown and in the later days. “With the economy inching … Read more