LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Companies News

This UPI solution to ensure real-time fraud prevention

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. 

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
This UPI solution to ensure real-time fraud prevention
UPI-enabled transactions crossed the 151.7 million mark in January 2018. Photo: Youtube
Written By: ZeeBiz WebTeam
Updated: Fri, Mar 09, 2018
08:02 pm
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Zero fee, no hidden charge on UPI payments to merchants! Encouraging MSMEs, small businesses to adopt digital payments Zero fee, no hidden charge on UPI payments to merchants! Encouraging MSMEs, small businesses to adopt digital payments
Do UPI transactions or payments? Big relief! NPCI shoots message to all! Do UPI transactions or payments? Big relief! NPCI shoots message to all! "Not to fall prey," warns against additional charges from January 1
BIG ACHIEVEMENT! Rs 3,334 crores! BharatPe topples Google Pay in merchant UPI payment acceptance space BIG ACHIEVEMENT! Rs 3,334 crores! BharatPe topples Google Pay in merchant UPI payment acceptance space
Zero fee! Merchants alert - Now, receive unlimited payments through Paytm Wallet Zero fee! Merchants alert - Now, receive unlimited payments through Paytm Wallet
What is WhatsApp Pay, how to enable and use it to send money from messaging app What is WhatsApp Pay, how to enable and use it to send money from messaging app

A UPI-specific suite of solutions has been introduced by AGS Transact Technologies and  ACI Worldwide which  encompasses processing, fraud monitoring and reconciliation and settlement within ACI’s market-leading UP Retail Payments solution. AGS's partnership would be considered as first organization to implement this solution of ACI, designed exclusively to support Unified Payments Interface (UPI) transactions in India.

Mahesh Patel, President & Group CTO, AGS Transact Technologies said, “ACI’s Universal Payments capabilities have enabled us to integrate cross-channel payments, real-time fraud prevention and transaction management capabilities into our end-to-end payment solutions."

ACI’s UP Retail Payments solution delivers 24x7, secure payment capabilities, and is used by 8 of the world’s top 10 banks. 

The solution enables stakeholders to access the set of APIs developed by NPCI, and connects banks’ issuing systems to central infrastructures and to payment service providers (PSPs). 

Created specifically for the Indian market and made available to ACI’s broad customer base, AGSTTL has launched the solution via a hosted model, as the digitalization of payments in India continues to gather pace.

Currently, there is rapid digitalization of payments in India, including the National Payments Corporation of India’s (NPCI’s) UPI initiative, has led to massive growth in the number of fintechs and other organizations seeking to capitalize on this payments transformation across the country.

As per recent RBI data, 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. 
Similarly, the value of transactions also jumped by 18% month on month, from $2 billion (Rs 131.4 billion) in December 2017 to $2.4 billion (Rs 155.4 billion) in January 2018.

Manish Patel, Vice President, ACI Worldwide said, "“India is undergoing tremendous payments transformation; therefore, it is imperative that the country’s payments infrastructure delivers efficiency and scalability."

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
UPIUPI solutionsfraud preventionDigital PaymentDigital transactionEconomyBanking & Financial Services
RELATED NEWS
Zero fee, no hidden charge on UPI payments to merchants! Encouraging MSMEs, small businesses to adopt digital payments Zero fee, no hidden charge on UPI payments to merchants! Encouraging MSMEs, small businesses to adopt digital payments
Do UPI transactions or payments? Big relief! NPCI shoots message to all! Do UPI transactions or payments? Big relief! NPCI shoots message to all! "Not to fall prey," warns against additional charges from January 1
BIG ACHIEVEMENT! Rs 3,334 crores! BharatPe topples Google Pay in merchant UPI payment acceptance space BIG ACHIEVEMENT! Rs 3,334 crores! BharatPe topples Google Pay in merchant UPI payment acceptance space
Zero fee! Merchants alert - Now, receive unlimited payments through Paytm Wallet Zero fee! Merchants alert - Now, receive unlimited payments through Paytm Wallet
What is WhatsApp Pay, how to enable and use it to send money from messaging app What is WhatsApp Pay, how to enable and use it to send money from messaging app

LATEST NEWS

Policybazaar.com IPO: Capital boost! Check latest news here

Mid-cap Picks with Anil Singhvi: Know why Siddharth Sedani recommended Deccan Cement, PNC Infra and Galaxy Surfactants today

Yes Bank and SBI: Technical Analysis for Traders and Investors

NEET 2021 exam: Latest news on exam date, registration details and all one needs to know for appearing in the exam!

EPF interest rate 2020-21: ANNOUNCED! Check latest PF news update on EPFO provident fund deposits

MTAR Technologies IPO Subscription: Check allotment status finalisation date and how to check if you got shares

EaseMyTrip IPO: Public issue opening on Monday! Listing gain, important dates, price band to other details; all that you must know before bid

Stocks in Focus on March 5: Heranba Industries, MTAR Technologies Fertilizer Stocks, MAX Healthcare to WIPRO; here are the 5 Newsmakers of the Day

Reliance urges employees, family members to register for COVID-19 vaccination, to bear all costs

China sets modest GDP growth target as economy improves

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved