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INDIA-PAYMENTS/TRINIDADTOBAGO (PIX)India payments authority inks deal to develop payments system for Trinidad and Tobago

The Unified Payments Interface (UPI) transactions have grown at a stellar pace of 75 per cent Compound Annual Growth Rate (CAGR), while UPI spends surged at 68 per cent CAGR in the August 2019-August 2024 period, a report showed on Friday, as the card industry’s growth remained tepid.

According to data furnished in the report, 75.7% of consumers in Gujarat are aware of digital payments. This is lower than the national average of 77.2%, according to the report.

Headquartered in Mumbai, PayMate offers a platform that simplifies and digitizes B2B payment processes, enhancing working capital optimisation and ensuring timely supplier payments.

As the festive season kicks off, Amazon Pay is set to make shopping more rewarding with its Great Indian Festival 2024 offers, featuring lucrative cashbacks, credit deals, and rewards across various categories.

EaseMyTrip has partnered with fintech platform PhonePe to launch its ‘Hotels’ segment on the payment app. PhonePe users can now access domestic and international hotels with special offers, competitive pricing, and flexible booking options. Future plans include integrating ‘Activities’ and ‘Cabs’ features to enhance the travel experience for users.

Sengupta will oversee all people and workplace-related functions for the 1,700+ Zeta employees globally, the company said.

Payoneer is focusing on expanding its reach in India, leveraging global marketplace partnerships and a localized approach. The company aims to capitalise on the rapid growth of India’s service export market, particularly in tech, digital marketing, SaaS, and e-commerce sectors. With impressive customer growth and revenue increases, Payoneer sees India as a strategic priority.

New UPI AutoPay rule: The banks that issue NETC FASTag and RuPay NCMC should ensure that auto-replenishment, excluding pre-debit notification, is carried out in accordance with the criteria and utilized exclusively for NETC FASTag and RuPay NCMC.

India’s digital lending landscape witnessed a surge in Q1 FY25, with digital lenders disbursing a staggering 2.64 crore loans worth Rs 37,676 crore, underscoring the high demand for instant, small-ticket credit and cementing the sector’s role as a key driver of financial inclusion.