Department of Posts (DoP) and India Post Payments Bank (IPPB) have launched a new digital payment app, ‘DakPay,’ on December 15, 2020. The app will help in providing Digital Financial services at the last mile across India. The app comes with a suite of digital financial and assisted banking services offered by India post and IPPB using … Read more
India’s fintech company PhonePe Unified Payments Interface (UPI) has been launched in Sri Lanka. Central Bank of Sri Lanka Governor Nandalal Weerasinghe and India’s High Commissioner to Sri Lanka Santosh Jha attended the launch event in Sri Lanka. In a post on X, the Indian High Commission in Sri Lanka stated, “Unlocking new frontiers in … Read more
The union cabinet today approved an incentive scheme to promote the use of RuPay debit cards and low-value BHIM-UPI transactions. The scheme, which will promote the use of RuPay debit cards and person to merchant UPI transactions upto Rs 2,000, was approved in a cabinet meeting on Wednesday chaired by Prime Minister Narendra Modi. … Read more
Paytm’s stocks on Thursday saw a sharp downside movement after a block deal that took place where 259,930 shares were sold. The shares were sold at Rs 535.90 worth Rs 13.93 crore. Sources have confirmed that Chinese group Alibaba is behind the block deal, thereby selling about 3.1 per cent of its total equity of … Read more
In a country witnessing rapid growth, it comes as no surprise that India also has one of the fastest-growing fintech landscapes in the world, driven primarily by the advancement in digital payments segment. A recent report by PhonePe and Boston Consulting Group concluded that India’s digital payments market will more than triple from USD 3 … Read more
Foreign Secretary Vinay Kwatra on Saturday said that discussions are underway between India and Oman about utilising the UPI stack, adding that talks on the possibility of Rupee trade which is an “important element of cooperation,’ is still at the “exploratory stage”. Kwatra’s remarks came while addressing a special briefing at the Ministry of External … Read more
The Unified Payments Interface (UPI) has been formally launched at the Eiffel Tower in Paris, the Indian Embassy in France said on Friday and termed it as part of Prime Minister Narendra Modi’s “vision of taking UPI global.” The UPI was formally launched at the Republic Day reception held in France. In a post on … Read more
The Reserve Bank of India and Nepal Rastra Bank on Thursday signed and exchanged Terms of Reference for integration of fast payment systems of India and Nepal, viz., the Unified Payments Interface (UPI) of India and National Payments Interface (NPI) of Nepal, respectively. The integration is aimed at facilitating cross-border remittances between India and Nepal … Read more
Prime Minister Narendra Modi, President of Sri Lanka, Ranil Wickremesinghe and Prime Minister of Mauritius, Pravind Jugnauth will witness the launch of Unified Payment Interface (UPI) services in Sri Lanka and Mauritius, as well as, RuPay card services in Mauritius, on Monday 1 pm via video conferencing, the Ministry of External Affairs (MEA) said. India … Read more