The ‘How Urban India Pays’ report unveils India’s shift to digital payments. 90% prefer digital for online purchases, 50% for in-store. Merchants adapt with 69% transactions digital. Millennials and Gen X driving revolution. UPI leads online, cash still preferred offline. Convenience key motivator for adoption.
Paytm has been awaiting the panel’s approval for approximately two years, and without it, the company would have been forced to shut down its payment services business.
The market forces alone cannot solve social challenges of Financial Inclusion like last mile access and optimising services for the underserved. That is where DPI’s scalability, and shared utilities with regulatory guardrails within the three layers of technology, governance, and market can achieve social and economic inclusion objectives worldwide.
There is a complex interplay of generational preferences and behaviours in the Indian digital payments landscape. GenZ’s dual reliance on UPI and cash underscores the transitional nature of India’s economy, while the preferences of Millennials, GenX and Boomers indicate a growing trust and reliance on digital modes of payments, according to a latest report by …
The ED is investigating technology firms and unicorns for violating FEMA through offshore fundraising tactics. The ‘gift’ of shares to Indian founders is under scrutiny, raising concerns over overseas direct investment. Indian promoters are being questioned and may need to explain past transactions.
M1 NXT, an international trade financing platform, has appointed Munindra Verma as its new CEO. Verma, who previously worked at YES Bank, will expand the platform’s Global Financiers network and lead efforts to integrate digital technologies. Mynd Group promoter and director Sundeep Mohindru said Verma’s expertise in innovative financial solutions will help establish M1 NXT …
According to a report by Amazon Pay India and Kearney India, retail digital payments in India is set to touch the USD 7 trillion mark by FY30. It further revealed that UPI has been the key driver of this growth, while credit maintained its prominence. Cash is being preferred for daily spends of small value …
Retail digital payments to touch $7 trln mark by 2030: Report Read More »
PayU and Vi Business, a corporate division of Vodafone Idea Limited, partnered to propel India’s MSMEs into their digital journeys, by providing them bespoke digital payment solutions.
Trading volumes on these exchanges have plummeted by approximately 97% from February 2022 to January 2024. Concurrently, the number of active users has dropped by about 81%.
According to MobiKwik Co-founder & CFO Upasana Taku, the new product Pocket UPI has played a significant role in expanding its reach and bringing ease of payment to the users.
