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Digital Payment News
This UPI solution to ensure real-time fraud prevention
Fri, Mar 09, 2018
UPI-enabled transactions crossed the 151.7 million mark in January, undergoing a 4% increase from the 145.5 million transactions registered in December 2017.
Retailers say higher MDR nearly doubles merchants' costs
Wed, Dec 13, 2017
Retailers are lamenting the RBI's upward revision of merchant discount rates (MDR), the rate merchants pay banks per card transaction, claiming it has nearly doubled their costs.
RBI study claims major drop in cash payments after note-ban
Sat, Nov 25, 2017
The government had on November 8 last year surprisingly cancelled all the banknotes in the Rs 1,000 and 500 denominations, which was around 86% of the money in circulation, with multiple objectives.
Card transactions soar 84% in to Rs 74,090 crore: Study
Sun, Nov 19, 2017
The transaction volume at all points of sale (POSes) clipped higher by 86% to 378 million in September this year over the same period last year when it stood at 203 million, European payment solutions provider Worldline said in a weekend report quoting the Reserve Bank data.
Indian Overseas Bank goes live with Bharat Bill Payment system
Sat, Jul 29, 2017
BBPS is an integrated bill payment system that offers inter-operable online bill payments to customers.
MobiKwik partners Samsung Pay for select devices
Sun, Jul 16, 2017
As part of the tie-up, MobiKwik wallet is now integrated with Samsung Pay Mini to enable one-tap payments at more than 1.4 million MobiKwik-powered merchants across the country, the digital payments firm said in a statement.
How Snapdeal's downfall is Paytm's gain with FreeCharge
Thu, May 11, 2017
While there had been speculation earlier that Paytm was looking to buy Freecharge, this latest development puts all rumours to rest.
Flipkart stands to gain from the alleged FreeCharge, MobiKwik merger
Mon, Apr 24, 2017
Flipkart, which is advanced talks with Snapdeal's largest investor SoftBank for its acquisition, could stand to benefit from this deal the most.
Digital payments in India reverse trend, grow in March
Wed, Apr 19, 2017
Vivek Kaul, author of Easy Money trilogy said, "There is a seasonality factor as well. March is the last month of the financial year and digital payments seem to go up during the course of the month, as people pay their taxes (advance income tax and service tax) as well as settle business payments between them."
Nearly 2 crore downloads but less than 50 lakh linked bank accounts on BHIM app
Tue, Mar 21, 2017
Only one-fourth of those who downloaded the BHIM app, or nearly 51 lakh customers have actually linked the app with their bank accounts.
IDFC Bank launches Aadhaar Pay; here's how biometric-based app works
Wed, Mar 08, 2017
Kant is part of the chief ministers committee that will lay out a road map for implementation of digital payments over the next one year.
Digital Currency: Can Samsung Pay dent the Indian market?
Tue, Mar 07, 2017
While Samsung Pay offers a safer option for payment instead of using card, the limited availability of the service on all its smartphone devices is a big hurdle.
Only 70% citizens feel charges on cash transaction are a bad decision: Survey
Tue, Mar 07, 2017
The survey said, “Consumers are of the opinion that instead of reducing the cost of digital transactions, private banks are trying to show the stick to the customer and forcing them to go digital. Consumers are very concerned with the cost of digital transactions and many of them have reported that merchants are still charging 2% additional for debit, credit or wallet transactions.”
Samsung launches Samsung Pay platform in India; here's how it works
Mon, Mar 06, 2017
Some of the Samsung devices on which Samsung Pay is supported includes Galaxy S7 edge, Galaxy S7, Note 5, S6 edge plus, A5 (2016) and A7 (2016) and all other new models of Samsung to follow.
Digital payment can check black money, graft: Modi
Sun, Feb 26, 2017
Digital payment can check black money and play a key role in fighting graft, Prime Minister Narendra Modi said today as he asked the youth to become an "anti-corruption cadre" as part of the "cleanliness" drive.
India's less-cash dream is still a decade away?
Tue, Feb 21, 2017
Suvodeep Rakshit, Upasna Bhardwaj and Madhavi Arora analysts at Kotak Institutional Equities said, “After the initial surge in the volume of electronic payments in November-December, the trend seems to be normalising in January and February.”
Majority of consumers willing to adopt mobile payments: Report
Sun, Feb 19, 2017
The survey asked 1,000 consumers about their attitudes towards using their mobile phones to make purchases. It found that 93% of respondents were interested in using electronic payments more often.
Banks look for insurance as cyber threats increase
Sun, Feb 19, 2017
According to insurance industry reports, cyber crimes are growing at 40-50% annually globally. Similarly, global cyber risk insurance premium stood at $ 3.5 billion in 2016, which was only $ 2.5 billion in 2015, amply indicating growing incidents of cyber crimes across the world.
Over 8 lakh people win Rs 133 crore under digital payment scheme
Sun, Feb 12, 2017
"It's 50 days of our #DigiDhanMelas and over 8 lakh people have won Rs 133 crore already! 50 more days to go.", Niti Aayog said in a tweet.
Banks rush to buy cyber security cover as digi payments rise
Sun, Feb 12, 2017
"We have always seen maximum security in all our IT systems. We are now considering to avail cyber insurance covers for our customers," SBI managing director Rajnish Kumar told PTI here.