Digital India: India leads in Digital Payments

The UK based payments system company ACI recently released a report on digital payments. According to the report, India has the highest number of real-time online transactions in 2020. Key Findings of the Report The Digital payment market of India ..

Month: Current Affairs - April, 2021

WhatsApp Pay: NPCI approves WhatsApp to join UPI Payment

On November 6, 2020, the National Payment Corporation of India approved the Facebook owned messaging Application, WhatsApp to “Go Live” on UPI. This is to be achieved through new feature of WhatsApp called “WhatsApp Pay”. Key Highlights In order to ..

Month: Current Affairs - November, 2020

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

Bengaluru accounts for the highest number of digital transactions in India

As per the recent report by online payment processor Worldline India, Bengaluru accounted for the highest number of digital transactions in India in 2019. Bengaluru, which was the leading city in digital transactions in 2018, is followed by Chennai, Mumbai and Pune ..

NPIC to export UPI, sets up subsidiary: RBI Governor

The Unified Payment Interface was introduced in India in 2016. Based on its performance, Google has recommended similar service called FedNow to the US Federal Reserve Board. With its growing popularity, the RBI on December 16, 2019 announced that NPCI ..

Month: Current Affairs - December, 2019

UPI to be launched globally after hitting One Billion transactions in October

The Government of India in its major boost towards cash less digital economy launched the Unified Payments Interface (UPI) channel. The transactions through the channel has reached One Billion in the month of October Highlights The milestone has been achieved ..

Month: Current Affairs - October, 2019

Govt launches BHIM 2.0

Union Minister of Electronics and Information Technology (MeiTY) Ravi Shankar Prasad unveiled a slew of new initiatives and programmes, including BHIM 2.0 that packs-in new functionalities, supports additional languages and has increased transaction limits. He also launched a host of ..

Month: Current Affairs - October, 2019

Digital payment ecosystem in India

Demonetization and the government’s push towards digital payments has opened the market to several platforms which are not only more convenient but also provide greater flexibility to the people using them. Digital payment ecosystem in India As per a study ..