Unified Payments Interface
UPI: 500-crore Milestone in Volume
In March 2022, India’s Unified Payments Interface (UPI) has crossed the 500-crore mark in terms of volume and in terms of value it was close to touching the Rs 10-lakh crore milestone. Overview: Around 540.56 crore payments have been processed ..
Month: Current Affairs - April, 2022
Category: Economy & Banking Current Affairs
NPCI launches “UPI-Help”
The umbrella entity of the digital payments in India called “National Payments Corporation of India (NPCI)” has launched the “UPI-Help” on the BHIM UPI Application. UPI-Help will act as the grievance redressal mechanism on the BHIM application for the users. ..
Month: Current Affairs - March, 2021
UPI transactions at record 1.49 billion in July
In the first such case, the Unified Payments Interface based transactions have reached the highest ever tally of 1.49 billion in the month of July whereas the total value of transactions has reached the lifetime high of Rs 2.9 lakh ..
Month: Current Affairs - August, 2020
NPCI launched Pai: An Artificial Intelligence Virtual Assistant
On May 27, 2020, the National Payment Corporation of India launched Artificial Intelligence based chatbot called Pai. The Chatbot aims to increase financial inclusion in India. Highlights The PAI can be accessed 24/7. It provides information about NPCI products. The ..
Month: Current Affairs - May, 2020
Benchmarking India s Payment Systems
The Reserve Bank of India (RBI) report “Benchmarking India s Payment Systems” provides a comparison of the payment ecosystem in India with the payment systems and usage trends in other major countries. Findings of the Report Even though there was ..
ETMONEY becomes India’s first financial services app to integrate UPI
ETMONEY, India’s largest app for financial services has integrated UPI (Unified Payment Interface) as a payment method on its platform as it looks to double its monthly user base by the end of the year. The integration of UPI will ..
India Post Payments Bank (IPPB) ties up with FSS to create payments network for unorganized retail
The India Post Payments Bank (IPPB) has partnered with Financial Software and Systems (FSS) to create payments network for unorganized retail. FSS is a payments technology company that enables micro-merchants to accept payments online, or via Unified Payments Interface (UPI), ..
NPCI launches UPI 2.0 with overdraft facility
National Payments Corporation of India (NPCI) has launched UPI 2.0, an upgraded and renwed version of Unified Payments Interface (UPI) by adding four new features to make it attractive and safer for users. These new features will allow users to ..