Axis Bank Launches MicroPay Based on PIN on Mobile Technology for Digital Payments Axis Bank, one of India’s leading private sector banks, has launched a new digital payment service called MicroPay. The new payment service is based on PIN on Mobile technology, which allows customers to make secure payments without the need for a physical…
India’s Digital Payments Market Will More Than Triple to $10 Trillion by 2026 Digital payment systems have been rapidly gaining traction in India in recent years, thanks to the government’s push towards a cashless economy and increased adoption of smartphones and internet services. According to a report by RedSeer Consulting, India’s digital payments market is…
RBI digital payment mission : RBI Launches Mission to Make Every Citizen a User of Digital Payment The Reserve Bank of India (RBI) has launched a mission to make every citizen a user of digital payment. The mission aims to achieve the goal of a less-cash society and promote digital payments as the preferred mode…
Alibaba exits Paytm : Alibaba Exits India’s Paytm, Selling Shares for $167 Million Alibaba, the Chinese multinational conglomerate, has sold its shares in India’s leading digital payments company, Paytm, for $167 million. This marks Alibaba’s complete exit from Paytm after having invested over $2 billion in the company since 2015. Why This News Is Important…
RBI’s Digital Payments Index Jumps to 377.46 in Sept from 349.30 in March The Reserve Bank of India (RBI) has released its latest data on digital payments in the country, revealing a significant increase in digital payments. According to the RBI’s Digital Payments Index (DPI), the index has increased from 349.30 in March 2021 to…
Centre Clears Rs. 2600 Cr Scheme to Promote Digital Payments RuPay, BHIM, UPI The Indian government has approved an Rs. 2600 crore scheme aimed at promoting digital payment platforms, including RuPay, BHIM, and UPI. This scheme is aimed at encouraging the use of digital payment methods in the country and reducing the dependence on cash….
Alibaba Sells Stake in Paytm Worth $125 Million Alibaba Sells Stake in Paytm | Alibaba, the Chinese multinational conglomerate, has sold its stake in Indian digital payment company, Paytm, worth $125 million through a block deal. This sale comes as a surprise, given that Alibaba has been a long-term investor in Paytm, having first invested…
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