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How UPI Is Enabling A Cashless Economy
For a cashless economy to thrive, transactions must be affordable. Unlike credit card transactions that incur fees for merchants, UPI payments are either free or have minimal charges, making them much more accessible to small and medium-sized busines
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Fisherman Loses Rs 96,000 To Fraudsters While Trying To Get Refund In Mumbai: Cops
A 42-year-old fisherman from Mumbai lost Rs 96,870 after he was tricked into logging his details into a digital payment app by fraudsters who posed as executives of an online streaming platform.
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Online Payment Frauds Jump Over 400 Percent in India, RBI Data Shows
Digital payment frauds in India saw a 400 percent jump in the year ended March 2024, according to the Reserve Bank of India's (RBI) annual report. Data from the central bank shows that the value of transactions on UPI jumped 137% in the past two years to 200 trillion rupees, while the rise in online transactions is also boosted by cheap access to t...
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Delhi Cops Bust Gang Sending Activated SIM Cards To Vietnam For Gaming Apps
Four people have been arrested here for allegedly sending activated SIM cards to Vietnam to be used for gaming and social media applications and they received payments on a cryptocurrency platform banned in India, police said on Sunday.
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Flipkart Launches UPI Service in Partnership With Axis Bank to Counter Third-Party Apps
Flipkart launched the Unified Payments Interface (UPI) service in collaboration with Axis Bank. The Flipkart UPI will be initially available for Android users and can be used for online and offline payments. With the latest update, customers can now pay bills and make fund transfers directly from the Flipkart app.
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Chinese Group Alipay Said to Have Sold 3.4 Percent Stake in Zomato
Chinese payments group Alipay plans to sell its 3.4 percent stake in Indian food delivery giant Zomato for nearly $400 million (nearly Rs. 3,333 crore) through block deals on Indian stock exchanges, according to three sources and a Reuters review of the deal's term sheet. Alipay, owned by Ant Group, will offload its entire 3.44 percent stake in the...
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Apple Lands into Legal Trouble for Obstructing Crypto Tech from iOS Payment Apps
A group of Apple users have filed an official lawsuit accusing the iPhone-maker for not expanding its array of peer-to-peer payment services and especially restricting crypto payments. The plaintiffs, in their complaint, have accused Apple of blocking crypto payments that forced some of its users to continue paying in ‘rapidly inflating prices’...
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Beware Of Electricity Bill Payment Scam: Follow These Tips To Stay Safe
Scammers' messages are often cleverly crafted to appear as if they are from official electricity departments, adding to the deceptive nature of the scam.
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PayPal Moves Delhi High Court Against Order Holding It as ‘Payment System Operator’ Under Money Laundering Law
American online payment gateway PayPal on Wednesday moved the Delhi High Court against an order which ruled that it was a "payment system operator" under the Prevention of Money Laundering Act (PMLA) and has to thus comply with "reporting obligations" under it.
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Google Pay UPI Lite Feature for Pin-Free Digital Transactions Announced: Here's How to Use
Google Pay has introduced new UPI Lite services on its platform to make digital transactions a seamless experience. With UPL Lite, users will be able to perform quick digital payments with just one click, without the need to enter the UPI PIN that is used for Google Pay transactions. However, there are a few limitations in order to ensure the money...
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Nokia 110 4G, Nokia 110 2G With Inbuilt UPI App, Wireless FM Radio Launched in India: Price, Specifications
Nokia 110 4G and Nokia 110 2G have been launched in India. The new phones include wireless FM radio support and an inbuild Unified Payments Interface (UPI) payment app. The are available for purchase on the official Nokia India website, as well as online and offline retail stores.
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SBI Partners With PayNow for Cross-Border Payments Through Bhim App
A day after a real-time payments system linkage was established between India and Singapore using the UPI platform, State Bank of India on Wednesday announced a partnership with PayNow, the online payment system of the city state, for cross-border payments. The facility is offered through SBI's Bhim SBIPay mobile application and the linkage will al...
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Amazon, Google in RBI’s List of Online Payment Aggregators, Over 50 Entities Granted License to Operate
RBI on Wednesday released a list of 54 entities, including Amazon (Pay) India, Google India Digital Services, NSDL Database Management, and Zomato Payments, which can continue to operate as Online Payment Aggregators (PAs).
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Amazon 'Buy With Prime' to Roll Out to US Merchants on January 31 to Compete With Shopify Pay
Amazon has announced that it will roll out its 'Buy With Prime' button to allow merchants to sell products using its payment and delivery services outside it's shopping platform. The invite-only launch that was made available in April last year will be widely available to merchants in the US by January 31, according to the e-commerce firm.
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Paytm to Resubmit Application for Authorisation of Payment Aggregator Services
Paytm has shared an update with the exchanges about its 100 per cent subsidiary, Paytm Payments Services. The company can now resubmit the application within 120 calendar days for the payment aggregator services. Ahead of that, the company will seek necessary approval for past downward investment from Paytm into its subsidiary.
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How UPI Is Enabling A Cashless Economy
For a cashless economy to thrive, transactions must be affordable. Unlike credit card transactions that incur fees for merchants, UPI payments are either free or have minimal charges, making them much more accessible to small and medium-sized busines
-
Fisherman Loses Rs 96,000 To Fraudsters While Trying To Get Refund In Mumbai: Cops
A 42-year-old fisherman from Mumbai lost Rs 96,870 after he was tricked into logging his details into a digital payment app by fraudsters who posed as executives of an online streaming platform.
-
Online Payment Frauds Jump Over 400 Percent in India, RBI Data Shows
Digital payment frauds in India saw a 400 percent jump in the year ended March 2024, according to the Reserve Bank of India's (RBI) annual report. Data from the central bank shows that the value of transactions on UPI jumped 137% in the past two years to 200 trillion rupees, while the rise in online transactions is also boosted by cheap access to t...
-
Delhi Cops Bust Gang Sending Activated SIM Cards To Vietnam For Gaming Apps
Four people have been arrested here for allegedly sending activated SIM cards to Vietnam to be used for gaming and social media applications and they received payments on a cryptocurrency platform banned in India, police said on Sunday.
-
Flipkart Launches UPI Service in Partnership With Axis Bank to Counter Third-Party Apps
Flipkart launched the Unified Payments Interface (UPI) service in collaboration with Axis Bank. The Flipkart UPI will be initially available for Android users and can be used for online and offline payments. With the latest update, customers can now pay bills and make fund transfers directly from the Flipkart app.
-
Chinese Group Alipay Said to Have Sold 3.4 Percent Stake in Zomato
Chinese payments group Alipay plans to sell its 3.4 percent stake in Indian food delivery giant Zomato for nearly $400 million (nearly Rs. 3,333 crore) through block deals on Indian stock exchanges, according to three sources and a Reuters review of the deal's term sheet. Alipay, owned by Ant Group, will offload its entire 3.44 percent stake in the...
-
Apple Lands into Legal Trouble for Obstructing Crypto Tech from iOS Payment Apps
A group of Apple users have filed an official lawsuit accusing the iPhone-maker for not expanding its array of peer-to-peer payment services and especially restricting crypto payments. The plaintiffs, in their complaint, have accused Apple of blocking crypto payments that forced some of its users to continue paying in ‘rapidly inflating prices’...
-
Beware Of Electricity Bill Payment Scam: Follow These Tips To Stay Safe
Scammers' messages are often cleverly crafted to appear as if they are from official electricity departments, adding to the deceptive nature of the scam.
-
PayPal Moves Delhi High Court Against Order Holding It as ‘Payment System Operator’ Under Money Laundering Law
American online payment gateway PayPal on Wednesday moved the Delhi High Court against an order which ruled that it was a "payment system operator" under the Prevention of Money Laundering Act (PMLA) and has to thus comply with "reporting obligations" under it.
-
Google Pay UPI Lite Feature for Pin-Free Digital Transactions Announced: Here's How to Use
Google Pay has introduced new UPI Lite services on its platform to make digital transactions a seamless experience. With UPL Lite, users will be able to perform quick digital payments with just one click, without the need to enter the UPI PIN that is used for Google Pay transactions. However, there are a few limitations in order to ensure the money...
-
Nokia 110 4G, Nokia 110 2G With Inbuilt UPI App, Wireless FM Radio Launched in India: Price, Specifications
Nokia 110 4G and Nokia 110 2G have been launched in India. The new phones include wireless FM radio support and an inbuild Unified Payments Interface (UPI) payment app. The are available for purchase on the official Nokia India website, as well as online and offline retail stores.
-
SBI Partners With PayNow for Cross-Border Payments Through Bhim App
A day after a real-time payments system linkage was established between India and Singapore using the UPI platform, State Bank of India on Wednesday announced a partnership with PayNow, the online payment system of the city state, for cross-border payments. The facility is offered through SBI's Bhim SBIPay mobile application and the linkage will al...
-
Amazon, Google in RBI’s List of Online Payment Aggregators, Over 50 Entities Granted License to Operate
RBI on Wednesday released a list of 54 entities, including Amazon (Pay) India, Google India Digital Services, NSDL Database Management, and Zomato Payments, which can continue to operate as Online Payment Aggregators (PAs).
-
Amazon 'Buy With Prime' to Roll Out to US Merchants on January 31 to Compete With Shopify Pay
Amazon has announced that it will roll out its 'Buy With Prime' button to allow merchants to sell products using its payment and delivery services outside it's shopping platform. The invite-only launch that was made available in April last year will be widely available to merchants in the US by January 31, according to the e-commerce firm.
-
Paytm to Resubmit Application for Authorisation of Payment Aggregator Services
Paytm has shared an update with the exchanges about its 100 per cent subsidiary, Paytm Payments Services. The company can now resubmit the application within 120 calendar days for the payment aggregator services. Ahead of that, the company will seek necessary approval for past downward investment from Paytm into its subsidiary.
