India and Singapore have linked their digital payments systems, UPI and PayNow, to enable instant and low-cost fund transfers in a major push to disrupt the cross-border transactions between the two nations that amounts to over $1 billion each year. The linkage between the two systems went live...
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Indians traveling to many foreign markets including the UAE and Singapore may soon be able to use the popular UPI payments to make purchases when they land there. Bengaluru-headquartered fintech giant PhonePe said on Tuesday that it’s extending support for UPI international payments in the UAE,...
Google is piloting its own ‘soundbox’ in India for merchants to get audio-based payment alerts
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Soundboxes — hardware used by merchants that emits sounds every time a mobile payment is made — have taken off in India, where point of sale activity can get busy and voice alerts from the soundbox help alert multitasking shopkeepers and assistants to a transaction going through. Now, to keep...
India will spend nearly $320 million to promote cards on RuPay and for low-value UPI transactions, the latest in a series of moves by New Delhi to fuel the growth of its homegrown payments network. New Delhi approved a plan Wednesday to spend $318.4 million for the promotion of RuPay debit cards...
Unified Payments Interface — commonly known as UPI — has become the most popular mobile payment route for P2P and merchant payments in India, and now Google’s stepping up with an updated UPI functionality to meet demand. Google Play has enabled users in the South Asian country to make...
India’s central bank proposed on Wednesday an integration between UPI and credit cards in a significant boost for a fast-growing payments protocol that has become the most popular way individuals in the South Asian market transact online. “UPI facilitates transactions by linking savings or...
Slice is adding the popular railroad UPI on its eponymous app as the Indian fintech looks to broaden its offerings and pushes to become a one-stop payments app for consumers in the world’s second largest internet market. The Bengaluru-headquartered startup, which became a unicorn late last year,...
Slice is adding the popular railroad UPI on its eponymous app as the Indian fintech looks to broaden its offerings and pushes to become a one-stop payments app for consumers in the world’s second largest internet market. The Bengaluru-headquartered startup, which became a unicorn late last year,...
In a first of its kind in India, investment fintech Winvesta has launched a feature that helps clients based in the country to remit funds via UPI and net banking to fund their global investment accounts. The Winvesta feature is part of a three-month cohort of the regulatory sandbox, and the...
Unified Payments Interface (UPI) transaction value hit an all-time high in 2020. Due to the COVID-19 pandemic, the nationwide lockdown made many people turn to online transactions, which led to an increase of 105% in UPI transactions. The recorded growth value of 105% in UPI transactions is from...