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New Delhi: Conversational engagement platform Gupshup has introduced UPI payments for people using feature phones via a native app called GSPay. The app, developed along with National Payments Corporation of India (NPCI), will use SMS or even IVR based payments system, and do away with the need of data or internet connectivity. Gupshup said it […]
Received a WhatsApp forward that said UPI is no longer free and you will have to pay a fee for online transactions? Don’t worry, such messages are misleading and fake. National Payment Corporation of India (NPCI) via its official Twitter handle has issued a statement clarifying that there is no charge to customers. As per […]
National Payments Corporation of India (NPCI) has issued a statement clarifying that UPI – Unified Payment Interface does not expose user’s KYC details. It further states that UPI payments can not result in a hacker getting access to user’s phone or the app itself. A media statement was issued by NPCI via a post on […]
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Shares of One 97 Communications Ltd, parent of Paytm, closed more than 7% higher on Monday on the National Stock Exchange. In the March quarter (Q4FY22), the operating metrics of Paytm were encouraging. The payment services’ take rate continued to sustain at 0.40% despite an increase in share of UPI in the payments mix. UPI […]
The chief executive of Coinbase said the US-based crypto trading firm disabled its Unified Payments Interface or UPI services because of “informal pressure” from the Reserve Bank of India (RBI). In a strong-worded response, Brian Armstrong said, “So a few days after launching, we ended up disabling UPI because of some informal pressure from the […]
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Capital markets regulator Sebi on Tuesday revised upwards the UPI payment limit for individual investors in public issues, according to an official statement. Now individual investors investors can use UPI for up to ₹5 lakh payment in public issues. The decision has been taken after National Payments Corporation of India (NPCI) reviewed the systemic readiness […]
The Reserve Bank of India (RBI) on Tuesday introduced UPI123Pay, a new system for digital payments using the Unified Payments Interface (UPI). This is meant for feature phones, and will work without internet. Mint explains how: What’s the new system for digital payments? At the moment, payments made through UPI on smartphones depend on the […]
The market watchdog Securities and Exchange Board of India (SEBI) on Tuesday increased the limit for investment through Unified Payments Interface (UPI) mechanism to ₹5 lakh for investors applying in public issues of debt securities based on discussions with market participants. The increased limit of ₹5 lakh via UPI mode will be effective on public […]
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The solution, called UPI Lite, will likely be used first to enable digital payments under ₹200 in rural areas, the people, including three government officials and a senior executive at a bank testing the solution, said, requesting anonymity. The Reserve Bank of India (RBI), on 5 January, allowed offline digital payments worth ₹200 to be […]
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Brokerage firm Macquarie Research has initiated an underperform rating on Paytm owner One97 Communications ahead of its listing on Thursday, saying its business model lacks focus and direction. The brokerage firm has reduced its target price to ₹1,200 a share, down 40% from its issue price of ₹2,150 calling the company a ‘cash guzzler’. “Dabbling […]
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