Non-Resident Indians (NRIs) can now transfer money to India faster through UPI, thanks to the National Payments Corporation of India (NPCI) extending UPI services to NRE and NRO account holders. NRIs can link their international mobile numbers to UPI apps for instant transactions. Supported banks and apps include Federal Bank, ICICI Bank, and PhonePe, among …
Starting November 1, 2024, NPCI introduces new UPI changes including an auto top-up feature and higher transaction limits for UPI Lite. Transactions up to Rs 1,000 no longer require a PIN, while wallet balance limits increase to Rs 5,000. The auto top-up feature recharges the UPI Lite account automatically, enhancing convenience for small-value payments.
Starting November 1, 2024, NPCI introduces new UPI changes including an auto top-up feature and higher transaction limits for UPI Lite. Transactions up to Rs 1,000 no longer require a PIN, while wallet balance limits increase to Rs 5,000. The auto top-up feature recharges the UPI Lite account automatically, enhancing convenience for small-value payments.
Paytm has showcased it’s branding with UPI id in the form of glittering stars, and Google Pay is offering cashback by partnering with Zepto. ETBFSI has compiled a unique ways that FinTechs chose to celebrate Diwali this year.
India and Saudi Arabia are strengthening trade ties through collaborations in fintech, new technologies, energy efficiency, clean hydrogen, textiles, and mining, following Minister Piyush Goyal’s Riyadh visit for the Strategic Partnership Council.
Given the month of festivities, UPI transaction volume witnessed a significant uptick from 15.04 Bn in September to reaching 16.68 Bn in October. Immediate Payment Service (IMPS) transactions rose to 467 million in volume and Rs 6.29 trillion in value, while FASTag, India’s toll collection system, processed 345 million transactions worth Rs 61.15 billion. Aadhaar …
UPI clocks 535 Mln daily transactions in Oct; crosses 16.58 Bn in volume Read More »
Consumer payment companies like PhonePe, Paytm, Amazon Pay, and Cred have significantly reduced their marketing expenditures and customer incentives, reflecting a maturing digital payments market in India. This trend indicates a shift from aggressive customer acquisition strategies to a more sustainable approach focused on profitability.
Sopnendu Mohanty, Chief FinTech Officer of the Monetary Authority of Singapore, said Global Finance and Tech Network (GFTN) will strengthen fintech collaboration between India and Singapore. GFTN will also explore investment opportunities and focus on building on existing partnerships like the UPI-PayNow linkage.
The Monetary Authority of Singapore (MAS) has launched the Global Finance & Technology Network (GFTN) to bolster Singapore’s status as a premier Global FinTech hub. Led by Chairman Ravi Menon, GFTN aims to drive innovation and growth in the financial services sector. Sopnendu Mohanty will be the Group CEO for GFTN.
Jaiswal said that Digital pathways are fast connecting India-Spain technological partnership
