Digital Mode Of Payment

Reserve Bank on Thursday proposed to increase the per transaction payment limit to Rs 500 for UPI Lite in offline mode and announced other measures to further deepen the reach and use of digital payments in the country.

UPI was the most preferred mode for digital payments in 2022, according to a Worldline report. Over 87.92 billion transactions worth Rs 149.5 trillion were processed in last year, and Person-to-Merchant (P2M) and Person-to-Person (P2P) UPI payments were the most popular choices for users in India, as per the report.

Reliance Retail is set to accept India’s CBDC as a mode of payment in order to test its use-cases as well as drive its adoption. The development was confirmed by V Subramaniam, the Managing Director of Reliance Retail. Built on the distributed ledger system of blockchain, the CBDC is a digital representation of India’s fiat currency.

The Income Tax Department has come out with detailed disclosure requirements for TDS deductions for virtual digital assets, under which date of transfer and mode of payment will have to be specified. The 2022-23 Budget has brought in clarity with regard to levy of income tax on crypto assets. From April 1, a 30 percent I-T plus cess and surcharges,...

Digitial payments in India have seen a huge surge as contactless transactions have surged over six times in the last three years, states a report done jointly by global digital payments leader Visa and payments processor Worldline. The adoption of EMV chip cards has been pivotal for the growth of contactless payments.

Digital financial services app Paytm said that it has tokenised 28 million cards across Visa, Mastercard and RuPay, and expects to purge saved card data by June 30.

Cryptocurrencies are increasingly being accepted as a mode of payment in India. Here are some online and offline stores that accept Bitcoin, Ethereum, Litecoin, and other popular digital currencies.

As many as Rs 1,500 crore has been proposed for a scheme that will provide financial incentive to promote digital modes of payment and further boost digital transactions, the Ministry of Finance (MoF) said on Monday.

Google Tez app is powered by UPI, and allows you to transfer money digitally by using UPI ID or by using its built-in cash mode.

To promote digital modes of payment, the government decided post notes ban that service charge on online booking of train tickets would be withdrawn for tickets booked from November 23, 2016, to March 31, 2017.

The government has directed all universities and higher educational institutions across the country to ensure that no fees payments are made by students in cash mode from the upcoming academic session.

Students in university campuses across the country may soon not be able to pay their fee by cash or cheque. Pushing campuses across the country to switch to digital payments mode, the NDA government has decided that higher educational institutions should carry out all monetary transactions using digital modes of payment.

As per the latest data of the Reserve Bank, as many as 9,575 lakh transactions were made through various digital modes, like credit/debit cards, UPI, USSD, and mobile banking in December last year, the second month of demonetisation effected on November 9.

The Securities and Exchange Board of India (Sebi) has amended various regulations to enable the market participants to make payments to it through digital mode as well, the regulator said in a notification dated March 6.

BHIM app, which was available only on Android till now, has finally been launched for iOS devices like iPhones and iPads.

Reserve Bank on Thursday proposed to increase the per transaction payment limit to Rs 500 for UPI Lite in offline mode and announced other measures to further deepen the reach and use of digital payments in the country.

UPI was the most preferred mode for digital payments in 2022, according to a Worldline report. Over 87.92 billion transactions worth Rs 149.5 trillion were processed in last year, and Person-to-Merchant (P2M) and Person-to-Person (P2P) UPI payments were the most popular choices for users in India, as per the report.

Reliance Retail is set to accept India’s CBDC as a mode of payment in order to test its use-cases as well as drive its adoption. The development was confirmed by V Subramaniam, the Managing Director of Reliance Retail. Built on the distributed ledger system of blockchain, the CBDC is a digital representation of India’s fiat currency.

The Income Tax Department has come out with detailed disclosure requirements for TDS deductions for virtual digital assets, under which date of transfer and mode of payment will have to be specified. The 2022-23 Budget has brought in clarity with regard to levy of income tax on crypto assets. From April 1, a 30 percent I-T plus cess and surcharges,...

Digitial payments in India have seen a huge surge as contactless transactions have surged over six times in the last three years, states a report done jointly by global digital payments leader Visa and payments processor Worldline. The adoption of EMV chip cards has been pivotal for the growth of contactless payments.

Digital financial services app Paytm said that it has tokenised 28 million cards across Visa, Mastercard and RuPay, and expects to purge saved card data by June 30.

Cryptocurrencies are increasingly being accepted as a mode of payment in India. Here are some online and offline stores that accept Bitcoin, Ethereum, Litecoin, and other popular digital currencies.

As many as Rs 1,500 crore has been proposed for a scheme that will provide financial incentive to promote digital modes of payment and further boost digital transactions, the Ministry of Finance (MoF) said on Monday.

Google Tez app is powered by UPI, and allows you to transfer money digitally by using UPI ID or by using its built-in cash mode.

To promote digital modes of payment, the government decided post notes ban that service charge on online booking of train tickets would be withdrawn for tickets booked from November 23, 2016, to March 31, 2017.

The government has directed all universities and higher educational institutions across the country to ensure that no fees payments are made by students in cash mode from the upcoming academic session.

Students in university campuses across the country may soon not be able to pay their fee by cash or cheque. Pushing campuses across the country to switch to digital payments mode, the NDA government has decided that higher educational institutions should carry out all monetary transactions using digital modes of payment.

As per the latest data of the Reserve Bank, as many as 9,575 lakh transactions were made through various digital modes, like credit/debit cards, UPI, USSD, and mobile banking in December last year, the second month of demonetisation effected on November 9.

The Securities and Exchange Board of India (Sebi) has amended various regulations to enable the market participants to make payments to it through digital mode as well, the regulator said in a notification dated March 6.

BHIM app, which was available only on Android till now, has finally been launched for iOS devices like iPhones and iPads.