Page-2 of UPI

India to allow NRIs to Use UPI

January 18, 2023

The National Payments Corp. of India (NPCI) has made a significant move that allows Indians abroad to use the fast payments network Unified Payments Interface (UPI) as long as their domestic bank accounts are linked to their foreign mobile numbers. ..

Month: 

Category: 

UPI Reaches Record High in December

January 2, 2023

India’s Unified Payments Interface (UPI) processed a record 7.82 billion transactions in December, worth a total of INR 12.82tn ($174.6bn). This represents an increase of 7.12% in volume and 7.73% in value compared to November. On a year-on-year basis, volume ..

Month: 

Category: 

Six years of ‘Bharat Interface for Money’

January 2, 2023

On the 30th of December 2016, the Prime Minister of India, Narendra Modi, launched the Bharat Interface for Money (BHIM) payment app. Six years later, BHIM is still going strong, with a steadily increasing user base and a high volume ..

Month: 

Category: 

Pilot phase of Open Network for Digital Commerce (ONDC)

May 2, 2022

Recently, the pilot phase of the open network for digital commerce (ONDC) was launched. Where is the pilot being conducted? The pilot is being conducted across five cities Delhi, Bengaluru, Coimbatore, Bhopal, and Shillong. It will be later launched in ..

Month: 

Category: 

Launch of UPI in UAE

April 22, 2022

The international arm of the National Payment Corporation of India, NPCI International Payments Ltd (NIPL) has announced that across the UAE, BHIM UPI is live on NEOPAY terminals. Overview: This initiative will be empowering the millions of Indians who travel ..

Month: 

Category: 

UPI: 500-crore Milestone in Volume

April 2, 2022

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: 

Category: 

123PAY: UPI for Feature phones

March 9, 2022

On 8th March 2022, Reserve Bank of India (RBI) Governor Shaktikanta Das launched Unified Payments Interface (UPI) for feature phones called “UPI123Pay”. About UPI 123PAY UPI ‘123PAY’ is a three-step method to initiate and execute services for those who use ..

Month: 

Category: 

India’s UPI Platform in Nepal

February 18, 2022

The first country to adopt India’s UPI system will be Nepal which will be critical in modernising the neighbouring country’s digital economy. Overview: To deliver the services in Nepal, NPCI International Payments Ltd (NIPL), NPCI’s international arm, has partnered with ..

Month: 

Category: