New Delhi: The government has directed banks and payment system providers not to impose charges on Unified Payments Interface (UPI) transactions of up to Rs 2,000 or on payments made through RuPay debit cards. However, the government is yet to clarify whether merchants will have to pay a Merchant Discount Rate (MDR) on UPI transactions Read More…
Mumbai: Prime Minister Narendra Modi on Tuesday inaugurated the Global Fintech Fest 2026 in Mumbai, welcoming innovators, industry leaders and investors from across the world. Addressing the gathering, Modi highlighted the rapid growth of India’s fintech sector and its growing importance to the vision of a Viksit Bharat. He said the sector’s expanding youth participation, Read More…
NEW DELHI: Unified Payments Interface (UPI) completed 10 years on Tuesday, marking a decade of rapid growth that has transformed India’s digital payments landscape. Launched by the National Payments Corporation of India (NPCI) on August 25, 2016, under the oversight of the Reserve Bank of India (RBI), UPI has become a key component of India’s Read More…
Kochi: Kerala is witnessing a remarkable digital payments boom, with Unified Payments Interface (UPI) transactions surging to new heights. According to data from the National Payments Corporation of India (NPCI), the state recorded a staggering 444.9 million UPI transactions in November alone, underlining the rapid shift towards cashless payments. The state is registering an impressive Read More…
Doha: In a major boost for Indian travelers and expatriates, Unified Payments Interface (UPI) has officially been launched in Qatar through a partnership between NPCI International Payments Limited (NIPL) and Qatar National Bank (QNB). With the rollout, payments at duty-free stores can now be made simply by scanning QR codes, removing the need to carry Read More…
The National Payments Corporation of India (NPCI) is preparing to make UPI work like an ATM, allowing users to withdraw up to ₹10,000 in cash through business correspondents (BCs) across India. The new system will use QR codes for withdrawals. Users can simply open their UPI app, scan the QR code provided by a business Read More…
The National Payments Corporation of India (NPCI) has increased the UPI transaction limit to ₹10 lakh per day for select high-value categories starting September 15. The revision will benefit payments such as taxes, insurance premiums, EMIs, capital market investments, travel bookings, jewellery purchases, and government e-marketplace transactions, making it easier for users to handle large Read More…
New Delhi: The era of free UPI transactions could soon come to an end. In a significant statement, RBI Deputy Governor Sanjay Malhotra hinted that users of digital payment platforms like PhonePe and Google Pay may soon have to pay for UPI services, as the government considers a sustainable funding model for the booming payment Read More…
On April 2, 2025, users across India encountered widespread disruptions in Unified Payments Interface (UPI) services, particularly on Google Pay (GPay), Paytm, and the State Bank of India (SBI). According to Downdetector, reports of failed transactions surged throughout the day, peaking between 5:00 PM and 8:00 PM IST. Around 54% of Google Pay and Paytm Read More…
From February 1, 2025, UPI transactions will be blocked for apps that use special characters in transaction IDs, following new guidelines issued by the National Payments Corporation of India (NPCI). The move is aimed at boosting security, streamlining payments, and reducing fraud risks by enforcing a standardized format for transaction identification. Banks and payment providers Read More…