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UPI Transaction IDs With These Characters Will Be Blocked From February 1 - Here's How To Avoid It
UPI Transaction IDs: The circular, dated January 9, advised UPI ecosystem players to generate UPI transaction IDs using only alphanumeric characters to ensure compliance with UPI technical specifications.
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India Delays UPI Payments Market Share Cap in Relief for PhonePe, Google Pay
India has pushed back the implementation of market share caps for UPI apps like Google Pay and PhonePe. According to the proposal, first made in November 2020, digital payment firms would not be allowed to hold more than 30 percent share of the volume of transactions processed via India's popular unified payments interface (UPI).
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Google Pay, PhonePe Other Payment Firms Seek to Join RBI's CBDC Pilot, Said to Offer eRupee Transactions
The RBI has started onboarding UPI platforms like Google Pay and PhonePe to the advanced trials of the eRupee CBDC. Payment firms are working closely with the RBI and National Payments Corporation of India (NPCI), the domestic payments authority, and are expected to roll out access to e-rupee over the next three-to-four months
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PhonePe Announces UPI Services in UAE for Travelling Indian Users: Know All Details
PhonePe launched its Unified Payments Interface (UPI) services in the United Arab Emirates (UAE) for Indian travellers as well as NRIs residing in the country on March 28. This service will now allow PhonePe users to make rapid digital transactions by scanning a QR code at retail stores, dining outlets, and other tourist attractions. The service is...
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Google Pay to Roll Out SoundPod With Audio Alerts to Merchants in India After Year-Long Pilot
Google SoundPod is coming to merchants in India in the coming months, the company said on Thursday. After a year-long limited pilot, the company revealed that it is bringing its device for payment alerts to merchants in the country, along with cashback offers. Google's SoundPod will compete with soundboxes from rivals like PhonePe and Paytm.
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Google Pay Said to Begin Collecting Convenience Fee on Mobile Recharge Transactions
Google Pay has begun charging a convenience fee when users purchase a mobile recharge plan, according to user reports online. The company appears to have joined rival payment platforms Paytm and PhonePe that previously introduced a convenience fee when users make prepaid recharge payments. Google Pay has reportedly begun to charge up to Rs. 3 in co...
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PhonePe Launches Pincode App for Local Commerce on ONDC Network: All Details
PhonePe on Tuesday announced the launch of Pincode, a new app that will help the Walmart-backed firm make its foray into local commerce. The new Pincode app is built on the government's Open Network for Digital Commerce (ONDC) platform. It will initially be available in Bangalore and will expand to other cities after reaching around 10,000 daily tr...
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Paytm, PhonePe Clarify UPI Transactions Still Free For All Customers
Paytm has issued a clarification regarding UPI-related fees after the National Payments Corporation of India (NPCI) notified that merchant transactions of over Rs 2,000 done through the Unified Payments Interface will attract up to a 1.1% interchange fee.
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PhonePe Launches Support for Cross-Border UPI Payments in Select Countries: Report
PhonePe, Indian digital payments and financial technology company, has launched support for cross-border UPI payments, under UPI International. The apps' users can now use their Indian bank accounts to pay at merchant outlets in the UAE, Singapore, Mauritius, Nepal and Bhutan, The Bhutan Live reported. Earlier, Indian users had to use either foreig...
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25,000 Flipkart Employees To Benefit From $700 Million Cash Payout: Report
"We are pleased to announce that employees, who are holders of Flipkart ESOPs (employee stock option plans), will receive a one-time discretionary cash payout as part of the transaction," an email from Kalyan Krishnamurthy, the Flipkart CEO (chief executive officer) read.
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UPI, Digital Transactions: Government Extends Deadline to Implement 30 Percent Cap
The National Payments Corporation of India (NPCI) on Friday extended the deadline for third party UPI players to meet its 30 percent volume cap in digital payment transactions by two years to end-December 2024. The decision may provide a relief to third party app providers (TPAP) like Google Pay and Walmart's PhonePe which have a majority share in ...
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Deadline Extended For 30% Cap On UPI Transactions By Payments Firms
The move comes as a breather to companies like Walmart Inc's PhonePe and Alphabet Inc's Google, which are among the leading digital money transfer apps in the country.
-
NPCI Said to Be in Talks With RBI on Implementing 30 Percent UPI Volume Cap Deadline
NPCI is said to be in talks with the RBI to implement its proposed December 31 dealine to limit payment app providers' volume cap to 30 percent. The corporation in 2020 came up with a directive to cap the share of transactions a third-party application provider (TPAP) could process at 30 per cent of the volume of transactions handled on UPI, but ga...
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UPI, Non-Cash Payments to Constitute 65 Percent of All Transactions by 2026: Report
UPI and other non-cash payments will account for 65 percent of all the transactions by 2026, estimated a report by BCG and PhonePe. The report also said that the digital payments industry will be provide $10 trillion (roughly Rs. 7,75,40,800 crore) opportunities in next four years.
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PhonePe Continues to Take on the Competition in UPI App Ecosystem With Over 46 Percent Share: NPCI
PhonePe has broadened the gap for platforms including Google Pay and Amazon Pay by expanding its market share to 46.04 percent in June, the data released by the National Payments Corporation of India (NPCI) has shown. WhatsApp Pay, on the other hand, has continued its marginal share of 0.02 percent.
-
UPI Transaction IDs With These Characters Will Be Blocked From February 1 - Here's How To Avoid It
UPI Transaction IDs: The circular, dated January 9, advised UPI ecosystem players to generate UPI transaction IDs using only alphanumeric characters to ensure compliance with UPI technical specifications.
-
India Delays UPI Payments Market Share Cap in Relief for PhonePe, Google Pay
India has pushed back the implementation of market share caps for UPI apps like Google Pay and PhonePe. According to the proposal, first made in November 2020, digital payment firms would not be allowed to hold more than 30 percent share of the volume of transactions processed via India's popular unified payments interface (UPI).
-
Google Pay, PhonePe Other Payment Firms Seek to Join RBI's CBDC Pilot, Said to Offer eRupee Transactions
The RBI has started onboarding UPI platforms like Google Pay and PhonePe to the advanced trials of the eRupee CBDC. Payment firms are working closely with the RBI and National Payments Corporation of India (NPCI), the domestic payments authority, and are expected to roll out access to e-rupee over the next three-to-four months
-
PhonePe Announces UPI Services in UAE for Travelling Indian Users: Know All Details
PhonePe launched its Unified Payments Interface (UPI) services in the United Arab Emirates (UAE) for Indian travellers as well as NRIs residing in the country on March 28. This service will now allow PhonePe users to make rapid digital transactions by scanning a QR code at retail stores, dining outlets, and other tourist attractions. The service is...
-
Google Pay to Roll Out SoundPod With Audio Alerts to Merchants in India After Year-Long Pilot
Google SoundPod is coming to merchants in India in the coming months, the company said on Thursday. After a year-long limited pilot, the company revealed that it is bringing its device for payment alerts to merchants in the country, along with cashback offers. Google's SoundPod will compete with soundboxes from rivals like PhonePe and Paytm.
-
Google Pay Said to Begin Collecting Convenience Fee on Mobile Recharge Transactions
Google Pay has begun charging a convenience fee when users purchase a mobile recharge plan, according to user reports online. The company appears to have joined rival payment platforms Paytm and PhonePe that previously introduced a convenience fee when users make prepaid recharge payments. Google Pay has reportedly begun to charge up to Rs. 3 in co...
-
PhonePe Launches Pincode App for Local Commerce on ONDC Network: All Details
PhonePe on Tuesday announced the launch of Pincode, a new app that will help the Walmart-backed firm make its foray into local commerce. The new Pincode app is built on the government's Open Network for Digital Commerce (ONDC) platform. It will initially be available in Bangalore and will expand to other cities after reaching around 10,000 daily tr...
-
Paytm, PhonePe Clarify UPI Transactions Still Free For All Customers
Paytm has issued a clarification regarding UPI-related fees after the National Payments Corporation of India (NPCI) notified that merchant transactions of over Rs 2,000 done through the Unified Payments Interface will attract up to a 1.1% interchange fee.
-
PhonePe Launches Support for Cross-Border UPI Payments in Select Countries: Report
PhonePe, Indian digital payments and financial technology company, has launched support for cross-border UPI payments, under UPI International. The apps' users can now use their Indian bank accounts to pay at merchant outlets in the UAE, Singapore, Mauritius, Nepal and Bhutan, The Bhutan Live reported. Earlier, Indian users had to use either foreig...
-
25,000 Flipkart Employees To Benefit From $700 Million Cash Payout: Report
"We are pleased to announce that employees, who are holders of Flipkart ESOPs (employee stock option plans), will receive a one-time discretionary cash payout as part of the transaction," an email from Kalyan Krishnamurthy, the Flipkart CEO (chief executive officer) read.
-
UPI, Digital Transactions: Government Extends Deadline to Implement 30 Percent Cap
The National Payments Corporation of India (NPCI) on Friday extended the deadline for third party UPI players to meet its 30 percent volume cap in digital payment transactions by two years to end-December 2024. The decision may provide a relief to third party app providers (TPAP) like Google Pay and Walmart's PhonePe which have a majority share in ...
-
Deadline Extended For 30% Cap On UPI Transactions By Payments Firms
The move comes as a breather to companies like Walmart Inc's PhonePe and Alphabet Inc's Google, which are among the leading digital money transfer apps in the country.
-
NPCI Said to Be in Talks With RBI on Implementing 30 Percent UPI Volume Cap Deadline
NPCI is said to be in talks with the RBI to implement its proposed December 31 dealine to limit payment app providers' volume cap to 30 percent. The corporation in 2020 came up with a directive to cap the share of transactions a third-party application provider (TPAP) could process at 30 per cent of the volume of transactions handled on UPI, but ga...
-
UPI, Non-Cash Payments to Constitute 65 Percent of All Transactions by 2026: Report
UPI and other non-cash payments will account for 65 percent of all the transactions by 2026, estimated a report by BCG and PhonePe. The report also said that the digital payments industry will be provide $10 trillion (roughly Rs. 7,75,40,800 crore) opportunities in next four years.
-
PhonePe Continues to Take on the Competition in UPI App Ecosystem With Over 46 Percent Share: NPCI
PhonePe has broadened the gap for platforms including Google Pay and Amazon Pay by expanding its market share to 46.04 percent in June, the data released by the National Payments Corporation of India (NPCI) has shown. WhatsApp Pay, on the other hand, has continued its marginal share of 0.02 percent.
