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Greed, fear & ignorance drive victims of digital scams, says NPCI top offical

Scamsters typically transfer small payments in the initial stages of the scam and display investment portfolio on spurious apps. These transactions can happen through Unified Payments Interface (UPI) as there is a limit of Rs 1 lakh per day. However, when the victims try to book their so-called profits, the criminals demand more money multiple …

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PhonePe surrenders NBFC-AA license to RBI

FinTech major PhonePe cited competing priorities as a challenge in scaling the number of financial information providers (FIPs) on its platform as desired. The company said that it has already begun winding down its AA operations and will soon reach out to its user base to inform them of the decision.

YONO-UPI integration via PayNow to provide bigger reach for India-bound transactions from Singapore

SBI Singapore’s planned YONO-UPI integration with PayNow will enhance India-bound transactions. The upcoming launch of two new payments solutions by MAS and ABS aims to support e-payments. YONO Singapore’s mobile app offers comprehensive digital financial services, including remittances, bill payments, and fund transfers. Launched in October 2024, it expects 1,500 downloads this financial year.