UPI ECOSYSTEM

RuPay credit cards are seeing a growth in usage after linking with UPI, with its issuance at 30%, up from a mere 5% in 2022-23. The shift towards UPI-based credit cards on third-party apps like Google Pay and PhonePe poses a challenge for banks, rai...

Happy Thursday! The integration of UPI with RuPay credit cards has pushed up new issuances but transaction growth hasn’t kept up. This and more in today's ETtech Morning Dispatch.

Fight against digital payment frauds: The RBI proposes a digital payments intelligence platform to combat a surge in digital payment frauds. Fraud cases reported to the RBI jumped 300% to 36,000 in FY23 compared to FY22, highlighting the need for a ...

Abhaya Hota has previously served as an Independent Director at Federal Bank, NSE Clearing, Protean e-Gov Technologies and RBI Innovation Hub. Cashfree Payments plans to leverage Hota's experience and expertise to develop innovative products and ser...

According to the 2023-24 annual report of the Ahmedabad-based conglomerate's flagship company Adani Enterprises, the user base of the superapp grew to 30 million at the end of the financial year. The company aims to expand the superapp's customer ba...

While regulatory clarity remains a work in progress, India's embrace of the Financial Intelligence Unit (FIU) registration requirement is a positive step, creating a safer trading environment for all.

Happy Monday! UPI's ease of use is driving a shift to cashless payments, leaving debit cards behind. This and more in today’s ETtech Morning Dispatch.

Industry insiders told us that while new PoS terminals are still being deployed, it’s mostly in organised and large format retail, which offer all payment forms. However, grocery shops, smaller stores and eateries are tilting towards QR code-based U...

AI & ML are now ubiquitous in banks and financial institutions as it helps the companies improve credit assessment and reduce frauds. Though these models have some risks — and the regulators are rightfully concerned — the good news is these can be r...

The Directorate General of Foreign Trade (DGFT) is exploring global trade finance practices to align with India's future needs. Over 2.5 lakh bank realisation certificates (BRCs) have been self-generated under the revamped eBRC system, boosting ease...

UPI user base has been hovering around 300 million for some time; RBI, banks are trying to push up this number.

Happy Wednesday! The country’s central bank wants more rural users to log into Unified Payments Interface (UPI). This and more in today’s ETtech Morning Dispatch.

Bengaluru-based insurtech startup Go Digit General Insurance has announced that its IPO will open on May 15 and close on May 17. This and more in today’s ETtech Top 5.

The UPI payment ecosystem is currently under the sway of two major players – Google Pay, commanding a substantial 47% market share, and PhonePe, a Walmart subsidiary, holding a significant 37% share. This duopoly underscores the competitive landscap...

Reserve Bank Governor Shaktikanta Das held a meeting with banks, NPCI, third-party application providers, and technology service providers to discuss strategies for expanding the UPI ecosystem. The discussions covered strategies for scaling up UPI i...

ICICI Bank has launched UPI for NRIs in ten countries, enabling global mobile number use without switching to Indian numbers. iMobile Pay facilitates utility, merchant transactions, and QR code payments, enhancing convenience and promoting UPI adopt...

Reserve Bank of India UPI: Now individuals don't need to depend upon third party prepaid payment instrument (PPI) wallets in order to make UPI payments. "To provide more flexibility to PPI holders, it is now proposed to permit linking of PPIs throug...

Rahul Jain discusses the implications of NPCI approval for Paytm, emphasizing the positive changes for shareholders and users. With new partnerships in place, the company is poised for growth and stock recovery in the coming quarters. Jain further s...

The Reserve Bank of India’s decision Wednesday to terminate the nodal accounts of One 97 Communications Ltd and Paytm Payments Services Ltd could have far reaching implications on India's digital payments ecosystem, multiple industry executives said.