UPI Ends FY24 with Record Transactions Worth ₹199 Lakh Crore Unified Payments Interface (UPI) has closed the financial year 2023-24 with a groundbreaking milestone, recording transactions worth a staggering ₹199 lakh crore. This achievement marks a significant surge in digital transactions, highlighting the increasing adoption of digital payment methods in India. The exponential growth of…
RBI Grants Payment Aggregator Licences to Innoviti Payments and Concerto Software The Reserve Bank of India (RBI) recently granted payment aggregator licenses to Innoviti Payments and Concerto Software. This move marks a significant development in the fintech sector, providing new opportunities for payment processing companies in India. Innoviti Payments and Concerto Software have secured payment…
NPCI and IISc Partner for Deep Tech Research In a significant collaboration aimed at fostering innovation and technological advancement, the National Payments Corporation of India (NPCI) has joined hands with the prestigious Indian Institute of Science (IISc) to delve into deep tech research. This partnership marks a pivotal moment in the realms of both academia…
Flipkart Introduces Its Digital Payments Solution – Flipkart UPI In the ever-evolving landscape of digital transactions, Flipkart has recently unveiled its own digital payments solution, Flipkart UPI. This move marks a significant step for the e-commerce giant, aiming to streamline and enhance the payment experience for its vast user base. As students preparing for various…
Vijay Shekhar Sharma Steps Down from Paytm Payments Bank Board Vijay Shekhar Sharma, the founder of Paytm, has announced his resignation from the board of directors of Paytm Payments Bank. This decision comes amidst a strategic realignment within the company and broader changes in the digital payments landscape. In a recent development, Vijay Shekhar Sharma,…
Paytm Explores Third-Party Path for Easy UPI Access In the rapidly evolving landscape of digital payments, Paytm, one of India’s leading fintech companies, is venturing into new avenues to enhance its UPI (Unified Payments Interface) accessibility. This strategic move aims to streamline and simplify the UPI process for users. In the wake of the ever-growing…
Zomato Payments Secures RBI Approval as Online Payment Aggregator In a significant development for the digital payments landscape in India, Zomato Payments has recently obtained approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator. This milestone achievement positions Zomato Payments as a key player in facilitating secure and efficient…
PhonePe Appoints Ritesh Pai as CEO for International Payments Division PhonePe, the leading digital payment platform in India, has recently announced the appointment of Ritesh Pai as the Chief Executive Officer (CEO) for its International Payments Division. This strategic move comes as PhonePe aims to expand its global presence and fortify its foothold in the…
Tata Pay Secures RBI Payment Aggregator License for E-commerce Transactions Tata Pay, a subsidiary of Tata Sons, has recently attained the esteemed RBI Payment Aggregator License. This license marks a significant milestone for the company, allowing it to facilitate seamless e-commerce transactions. This achievement adds a new dimension to Tata’s ventures and underscores its commitment…
RBI Extends Payments Infrastructure Scheme by 2 Years till Dec 2025; Expands Scope The Reserve Bank of India (RBI) has recently announced a significant extension and broadening of the Payments Infrastructure Development Fund (PIDF) scheme until December 2025. The PIDF, initially introduced in January 2019, aimed to encourage deployment of payment infrastructure in underserved areas….
