RBI Adds FASTag & NCMC Auto-Replenishment to E-Mandate Framework Introduction to the New RBI Directive The Reserve Bank of India (RBI) has recently introduced an important update to its e-mandate framework by incorporating the FASTag and National Common Mobility Card (NCMC) auto-replenishment feature. This move is set to streamline transactions and enhance convenience for users….
NPCI Launches UPI Circle for Secure Payments Among Trusted Users Introduction to UPI Circle The National Payments Corporation of India (NPCI) has recently introduced a new feature called UPI Circle. This innovation aims to enhance the security and reliability of digital transactions by allowing users to make payments within a trusted circle of contacts. The…
RBL Bank Launches RuPay Credit Cards with UPI and NCMC Functionalities Introduction to RBL Bank’s Latest Initiative RBL Bank has recently announced the launch of its new RuPay credit cards that come with UPI (Unified Payments Interface) and NCMC (National Common Mobility Card) functionalities. This move marks a significant step in enhancing digital payment solutions…
Digital Payments Rise 12.6% by March End 2024: RBI Data Overview of the Data According to recent data released by the Reserve Bank of India (RBI), digital payments have witnessed a significant increase of 12.6% by the end of March 2024. This surge in digital transactions reflects the growing acceptance and reliance on electronic payment…
Paytm Appoints Rajeev Agarwal as Non-Executive Independent Director Paytm, the leading digital payments platform in India, has recently announced the appointment of Rajeev Agarwal as a non-executive independent director. This strategic move is aimed at bolstering the company’s governance structure and leveraging Agarwal’s extensive expertise in finance and management. Rajeev Agarwal brings with him a…
MEA and SBI Sign MoU to Enhance Digital Payments for Migrant Workers The Ministry of External Affairs (MEA) and the State Bank of India (SBI) have signed a Memorandum of Understanding (MoU) to integrate SBI’s payment gateway, SBIePay, with the eMigrate portal. This strategic collaboration aims to enhance digital payment services for Indian migrant workers,…
RBI Initiatives to Combat Online Payment Frauds and Streamline Financial Operations The Reserve Bank of India (RBI) has launched several measures to address the increasing risks of online payment frauds and enhance operational efficiencies in the banking sector. These initiatives aim to protect consumers and streamline financial operations, reflecting the RBI’s proactive approach to evolving…
PhonePe Partners with PickMe to Offer UPI Payments for Indians in Sri Lanka In a significant move towards expanding its reach and services, PhonePe, India’s leading digital payments platform, has collaborated with PickMe, a Sri Lankan ride-hailing service, to introduce UPI (Unified Payments Interface) payments for Indian travelers in Sri Lanka. This partnership aims to…
UPI Breaks Record with 1.404 Billion Transactions in May; Sees 49% Year-on-Year Growth The Unified Payments Interface (UPI) in India has achieved yet another milestone by recording a staggering 1.404 billion transactions in the month of May. This feat marks a remarkable 49% year-on-year growth, showcasing the exponential rise in digital transactions and the increasing…
PhonePe Launches UPI in Sri Lanka in Partnership with LankaPay Introduction: In a significant move towards expanding its digital payment services beyond borders, PhonePe, India’s leading digital payments platform, has launched its Unified Payments Interface (UPI) services in Sri Lanka. This strategic initiative comes in collaboration with LankaPay, the national payment network of Sri Lanka,…
