UPI Users Can Now Send ₹5 Lakh for Certain Transactions The Unified Payments Interface (UPI), a flagship initiative of the National Payments Corporation of India (NPCI), has now increased the transaction limit for select services, allowing users to send up to ₹5 lakh. This is a significant development in India’s digital payments ecosystem, aimed at…
Tamil Nadu’s Rising Fintech PaySharp Secures RBI Authorization Introduction to PaySharp’s Milestone Tamil Nadu-based fintech startup PaySharp has recently achieved a significant milestone by securing authorization from the Reserve Bank of India (RBI). This endorsement not only validates PaySharp’s business model but also enhances its credibility within the highly regulated financial sector. The RBI’s authorization…
Mastercard Launches Payment Passkey Service in India Introduction to Mastercard’s New Service Mastercard has recently unveiled its innovative payment passkey service in India, marking a significant step in the evolution of digital payments. This new service is designed to enhance the security and convenience of online transactions by providing an alternative to traditional password-based authentication….
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…
