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Starting October 8, India will allow users to authenticate Unified Payments Interface (UPI) transactions through facial recognition and fingerprints, using Aadhaar-based biometric data, sources said. The move follows new RBI guidelines permitting alternative authentication methods and replaces the current PIN-based system. The NPCI plans to showcase the feature at the Global Fintech Festival in Mumbai. India will allow users to approve payments made through popular domestic payments network, th ...Read More >
Oct 9 (Reuters) - India's payments authority National Payments Corporation of India and fintech firm Razorpay have collaborated with Microsoft-backed (MSFT.O), opens new tab OpenAI to launch AI-driven payments on ChatGPT, the companies said on Thursday. The initiative, currently in the pilot stage, will allow users to make purchases on ChatGPT, facilitated by India's homegrown payments network Unified Payments Interface (UPI). The pilot will evaluate how the service can be expanded across vert ...Read More >
Mumbai, Oct 8 (PTI) Reserve Bank Governor Sanjay Malhotra on Wednesday exhorted the fledgling fintech ecosystem to focus on the underserved sections of the society to deepen financial inclusion. Speaking at the annual Global Fintech Fest here, Malhotra accepted that serving the "privileged" will be a lucrative business, but urged the smaller companies to focus on the underserved. "Build for inclusion. While there may be higher profits to be made by deepening access to the haves and the privile ...Read More >
Chennai: SaaS major Zoho has deepened its focus on fintech with new payment solutions and point-of-sale devices targeting collections and disbursements.Zoho launched POS and QR devices, soundboxes, and a range of payment solutions, including payout capabilities, virtual accounts for collections, and marketplace settlements.Zoho aims to leverage its existing strengths in ERP, accounting, and payroll software. Sivaramakrishnan Iswaran, CEO of Zoho Payment Technologies and global head of finance an ...Read More >
MUMBAI: The National Payments Corporation (NPCI) has launched a biometric authentication for UPI payments instead of the present PIN-based system. The biometric authentication will be performed on-device and can be used in place of the PIN that has been in use since the popular digital payments system was launched in April 2016. The new tool was rolled out by M Nagaraju, financial services secretary, at the global fintech summit here Tuesday. A biometric authentication is a more seamless, sec ...Read More >
Mumbai, Oct 7 (PTI) The Reserve Bank on Tuesday said bill payment system Bharat Connect has been linked with foreign exchange retail platform, enabling individual customers to buy US dollars in the form of currency notes, forex card load or for outward remittances at competitive prices. With the linkage, customers will be able to access USD through their preferred payment/banking apps integrated with the Bharat Connect or Bharat Bill Payment System (BBPS) platform. Currently, five lenders -- A ...Read More >
New Delhi, October 1: Reserve Bank of India (RBI) Governor Sanjay Malhotra on Wednesday reiterated that the central bank has no proposal to impose a fee on transactions done through Unified Payments Interface (UPI). The governor's clarification came during his address after the post-Monetary Policy Committee (MPC) meeting. Malhotra stated that he had never said UPI could stay free forever, but he noted that someone needs to bear the costs associated with its functioning. "What I said was there ...Read More >
New Delhi, Oct 1 (SocialNews.XYZ) Reserve Bank of India (RBI) Governor Sanjay Malhotra on Wednesday reiterated that the central bank has no proposal to impose a fee on transactions done through Unified Payments Interface (UPI). The governor's clarification came during his address after the post-Monetary Policy Committee (MPC) meeting. Malhotra stated that he had never said UPI could stay free forever, but he noted that someone needs to bear the costs associated with its functioning. "What I s ...Read More >
New Delhi, October 1: The Unified Payments Interface (UPI) saw 31 per cent transaction count growth (year-on-year) at 19.63 billion in the month of September -- with 21 per cent growth in transaction amount at Rs 24.90 lakh crore, the National Payments Corporation of India (NPCI) data showed on Wednesday. Month-wise too, UPI witnessed a growth in transaction amount, from Rs 24.85 lakh crore in August. Average daily transaction amount in September stood at Rs 82,991 crore, a rise from Rs 80,177 ...Read More >
New Delhi, Oct 1 (SocialNews.XYZ) The Unified Payments Interface (UPI) saw 31 per cent transaction count growth (year-on-year) at 19.63 billion in the month of September -- with 21 per cent growth in transaction amount at Rs 24.90 lakh crore, the National Payments Corporation of India (NPCI) data showed on Wednesday. Month-wise too, UPI witnessed a growth in transaction amount, from Rs 24.85 lakh crore in August. Average daily transaction amount in September stood at Rs 82,991 crore, a rise fr ...Read More >
Bengaluru, 29 September 2025: Axis Bank, one of the largest private sector banks in India, in collaboration with Freecharge, has unveiled Credit on UPI with Gold Loans - India's first gold-backed credit line accessible through the Unified Payments Interface (UPI). This innovative product is designed to unlock the economic potential of gold assets, especially for micro, small and medium enterprises (MSMEs), self-employed entrepreneurs and merchants across both urban and rural India. Credit on UP ...Read More >
NEW DELHI: The Department of Telecommunications (DoT) on Thursday signed a memorandum of understanding (MoU) with the Financial Intelligence Unit-India (FIU-IND) to enhance information sharing and coordination to stop the misuse of telecom resources in financial frauds and cybercrimes. FIU-IND is the central national agency responsible for receiving, processing, analysing, and disseminating information relating to suspected financial transactions and coordinating efforts against money launderin ...Read More >
Mumbai, September 15: The National Payments Corporation of India (NPCI) has raised the Unified Payments Interface (UPI) transaction limits for person-to-merchant (P2M) payments to up to Rs 10 lakh in 24 hours for specified categories, effective from Monday. The move seeks to facilitate larger payments in key sectors and enhance digital adoption in high-value segments. The NPCI maintained the person-to-person (P2P) limit at Rs 1 lakh per day. Earlier users often encountered restrictions, forcing ...Read More >
New Delhi: The National Payments Corporation of India (NPCI) has increased the UPI daily limit for person-to-merchant (P2M) payments to Rs 10 lakh, starting from Monday. This move is aimed at helping people make larger payments through UPI in sectors like insurance, loans, investments, and travel, where higher transaction amounts are often required. The person-to-person (P2P) UPI payment limit remains unchanged at Rs 1 lakh per day. Where Can You Use the Higher Limits? The updated UPI rules n ...Read More >
The National Payments Corporation of India (NPCI) has introduced significant changes to the transaction limits for UPI payments, set to come into effect from Monday, 15th September 2025. These changes are expected to benefit not only everyday users but also merchants and businesses that rely heavily on UPI for their transactions. As per the new rules, the transaction limit for certain specific categories, such as insurance premiums, capital markets, and credit card bill payments, will be increa ...Read More >
Mumbai: Cash withdrawals with smartphones are about to become easier and can be done virtually anywhere. Plans are underway to widen the reach of unified payments interface (UPI)-India's ubiquitous tool to move money, pay bills, and make online purchases-for taking out cash. Millions of individuals, non-profits, and grocers who act as 'business correspondents' (BCs) of high-street banks will have quick response, or QR codes that users can scan with any UPI app on their handsets to withdraw cash. ...Read More >
New Delhi, August 29: Financial services major Paytm on Friday clarified that Google Play's recent notification on unified payments interface (UPI) handle changes was incomplete and may have created confusion. The company emphasised that there is no disruption to UPI payments on Paytm and both consumer and merchant transactions remain seamless. The update is relevant only for recurring payments such as subscription billing. "This means that if a user was paying for YouTube Premium or Google One ...Read More >
Chennai (Tamil Nadu) [India], August 20: AssetPlus, India's leading digital platform for Mutual Fund Distributors (MFDs), today announced the launch of UPI AutoPay for Systematic Investment Plans (SIPs) through an integration with the Bombay Stock Exchange (BSE). This new capability allows investors to authorise recurring payments directly from their preferred UPI app, marking a significant leap towards faster, more convenient, and more transparent SIP mandate registration. Also Read | Who is M ...Read More >
VMPL Chennai (Tamil Nadu) [India], August 20: AssetPlus, India's leading digital platform for Mutual Fund Distributors (MFDs), today announced the launch of UPI AutoPay for Systematic Investment Plans (SIPs) through an integration with the Bombay Stock Exchange (BSE). This new capability allows investors to authorise recurring payments directly from their preferred UPI app, marking a significant leap towards faster, more convenient, and more transparent SIP mandate registration. For years, SIP ...Read More >
New Delhi, August 14: The National Payments Corporation of India (NPCI) has directed banks and payment apps to stop all peer-to-peer "collect requests." Starting from October 1, 2025, a widely UPI feature will no longer be available. The decision comes as authorities aim to improve transaction security and curb fraud. Many users have fallen victim to fake payment requests, where scammers trick people into sending money unknowingly. The decision is expected to change how people handle everyday U ...Read More >
Mumbai (Maharashtra) [India], August 14: Medulla Communications Pvt. Ltd., one of the world's most awarded healthcare-specialist advertising agencies, has announced the launch of its new hub in Singapore. With over 15 years of experience in solving complex healthcare challenges, Medulla is now looking to create a super-specialist category as the first digital healthcare advertising agency in Asia. New Hub to Deliver Scalable, Specialist Healthcare Marketing Solutions Across APAC. Also Read | Ne ...Read More >
Mumbai (Maharashtra) [India] August 14 (ANI): In a major step towards faster clearance of cheques, the Reserve Bank of India (RBI) has announced same-day and hourly cheque clearances in phases. According to the RBI's directive, issued on Wednesday to banks participating in the Cheque Truncation System (CTS) and the National Payments Corporation of India (NPCI), the new system will ensure that cheque processing, confirmation, and settlement take place in near real-time, significantly reducing de ...Read More >
DEHRADUN: Uttarakhand cabinet on Wednesday gave its nod to a strict Uttarakhand Freedom of Religion (Amendment) Bill, 2025, which provides for a maximum punishment of life imprisonment and fine of up to Rs 10 lakh for "forced conversion". The govt is likely to table the bill in the House, where they have a strong majority, for approval during the three-day monsoon session of assembly commencing on Aug 19.At present, the maximum jail term for such an offence is 10 years and the highest fine is Rs ...Read More >
HYDERABAD, Aug 13 : Telangana IT and Industries Minister Duddilla Sridhar Babu has been named in the India's 100 Most Influential People in AI 2025 list, announced by Analytics India Magazine. The recognition honours individuals driving India's leadership in artificial intelligence through policy, innovation, and leadership. In the policymakers' category, Sridhar Babu features alongside Union Ministers Ashwini Vaishnaw and Piyush Goyal, former Union Minister Rajiv Chandrasekhar, India AI Missi ...Read More >
Chennai, August 1: Actor, music director and producer G V Prakash Kumar, who has won the National Award for Best Music Direction (Songs) for the Tamil, Telugu bilingual film Vaathi, has called the honour "a blessing for the second time". Taking to his X timeline soon after the 71st National Awards were announced, G V Prakash expressed his gratitude to the jury and the selection committee of the National Awards and the entire team of Vaathi. G V Prakash wrote, "A blessing for the second time. I' ...Read More >
New Delhi: The number of transactions through the popular Unified Payments Interface (UPI) touched a record high of 19.47 billion in July, according to data released by the National Payments Corporation of India (NPCI). In terms of value, it was Rs 25.08 lakh crore, the second highest after Rs 25.14 lakh crore recorded in May. In terms of volume, the last highest number was 18.67 billion reported in May, which declined to 18.39 billion in June with transaction amount Rs 24.03 lakh crore. NPCI ...Read More >
New Delhi [India], July 20 (ANI): India has emerged as the global leader in fast payments, according to a recent note by the International Monetary Fund titled Growing Retail Digital Payments: The Value of Interoperability. At the heart of this transformation is the Unified Payments Interface, better known as UPI. Launched in 2016 by the National Payments Corporation of India, UPI has changed how people send and receive money in the country. It brings all your bank accounts together in one mob ...Read More >
New Delhi: When you apply for a credit card, you usually check things like the features, rewards, and which bank is giving you the card. But did you know that there's a situation where the bank really doesn't matter much? It sounds odd, but it's true -- this happens with RuPay credit cards! RuPay cards, made by NPCI, can be connected to UPI. Once you link your RuPay credit card to UPI, you can make payments through UPI just like you would from your bank. The main difference? Instead of the mone ...Read More >
India's Unified Payments Interface (UPI), once a bold experiment in digital public infrastructure (DPI), is now emerging as a global payments powerhouse. In a landmark move, Prime Minister Narendra Modi launched UPI in Trinidad and Tobago, signaling India's growing ambition to expand its fintech footprint across the Global South and beyond. This marks a defining moment in UPI's international journey, as it accelerates toward becoming a competitor to traditional global payment giants. With trans ...Read More >
SMPL Ahmedabad (Gujarat) [India], July 15: Infopercept, a global platform-led managed security services provider (MSSP), is set to host a high-impact webinar titled "Cybersecurity in BFSI: Staying Resilient Against Financial Threats in 2025" on 17th July 2025 at 4:00 PM IST. This virtual panel discussion aims to address the complex cybersecurity challenges including how BFSI can tackle: Security with AI, Security of AI and Security from AI and regulatory demands confronting India's Banking, Fin ...Read More >
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