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UPI News

20 Feb 2025

Free UPI No More? Google Pay Implements Convenience Fees On THESE Transactions

In 2020, the Indian government waived the Merchant Discount Rate (MDR) for UPI transactions under Rs 2,000 to encourage digital payments.

Insurance Regulatory and Development Authority of India

20 Feb 2025

New Rule From March 1: Pay For Insurance Premium Through Blocked Amount On UPI

IRDAI has allowed a facility of the UPI One Time Mandate to be used by insurers, that allows users to block funds in their bank accounts for specific transactions, ensuring availability of funds while deferring actual payments.

17 Feb 2025

PhonePe Launch Device Tokenization Solution For Credit, Debit Cards

For consumers, tokenizing their cards will no longer need to save their card details on merchant platforms or enter a CVV for every transaction, leading to higher success rates and fewer drop-offs at checkout.

Unified Payments Interface

14 Feb 2025

UPI Transactions New Guidelines From February 15 -- Check What Is Changing

A chargeback is a UPI transaction that is reversed by the payer's bank because of a dispute, fraud, or technical issue. When the chargeback is successful, the payer receives their money back.

09 Feb 2025

WhatsApp To Allow Users To Pay Electricity And Water Bills Easily- Read More

Whatsapp Bill Payment Feature Android: This move aims to streamline digital payments by eliminating the need to switch between multiple apps, positioning WhatsApp as a comprehensive utility platform.

Financial Rules

06 Feb 2025

3 Significant Monetary Changes That Kicked In From February 2025

Several financial rules have changed from February 2025. Here's looking at the significant ones.

UPI transactions

29 Jan 2025

Starting Feb 1, These UPI Transactions Will Be Declined – Details Here

The January 9 circular advised all UPI system participants to generate transaction IDs using only alphanumeric characters to meet UPI’s technical standards.

NPCI International Payments Limited

16 Jan 2025

Indians Visiting UAE To Get Wider Access To UPI Payments; Here’s Why

Indians visiting UAE will get wider access to UPI payments as NIPL announces partnership with Magnati.

14 Jan 2025

Jumped Deposit Scam: Here Are 3 Technical Misconceptions On UPI Transactions

NCPI has said that it encourages users to continue using UPI with confidence, assured by its robust, built-in security features that makes it both secure and reliable.

31 Dec 2024

RBI Mandates Beneficiary Name Verification For RTGS And NEFT Payments

Beneficiary Account Name Lookup Feature: The Reserve Bank of India (RBI) highlighted that payment systems like Unified Payments Interface (UPI) and Immediate Payments Service (IMPS) already enable remitters to verify the beneficiary's name before completing a transfer.

14 Dec 2024

UPI Achieves 15,547 Crore Transactions Worth Rs 223 Lakh Cr From Jan To Nov

UPI processed an impressive Rs 23.49 lakh crores across 16.58 billion financial transactions in October 2024, marking a 45 per cent year-on-year growth from 11.40 billion transactions in October 2023, as per the Ministry of Finance figures.

09 Dec 2024

Should You Switch From UPI To UPI Lite For Small Value Payments?

UPI Vs UPI Lite Features: NPCI under the guidance of the Reserve Bank of India (RBI) rolled out UPI Lite in September 2022, an enhanced version of UPI, which allows several low-volume transactions to be performed without entering a UPI pin.

08 Dec 2024

UPI Provided Credit Access To Poor, Fuelled Equitable Growth: Study

By October 2023, 75 per cent of all retail digital payments in India were through UPI.

06 Dec 2024

RBI Allows Small Finance Banks To Extend Pre-Sanctioned Credit Lines Via UPI

Credit line on UPI was launched in September 2023 and was made available through Scheduled Commercial Banks (SCBs).

Unified Payment Interface

03 Dec 2024

List Of Countries Where You Can Directly Pay From Your Indian Bank A/c Via UPI

Check list of UPI-powered applications that support international merchant payments in countries outside India.

Unified Payments Interface

02 Dec 2024

UPI Transactions May Touch 25 Billion A Month Towards 2025 End

After reaching a record high in October 2024 of 16.58 billion transactions and a value of Rs 23.50 lakh crore, UPI transactions in November stood at 15.48 billion transactions (38 per cent year-on-year growth) with a value of Rs 21.55 lakh crore (24 per cent YoY growth).

01 Dec 2024

UPI Transactions See 38 Per Cent YoY Growth In November

UPI Transaction: The FASTag transactions grew by 4 per cent in volume to 359 million, up from 345 million transactions in October. Aadhaar Enabled Payment System (AePS) transactions stood at 92 million, with a value of Rs 23,844 crore during the period.

27 Nov 2024

Make UPI Payments In UAE, Sri Lanka, Singapore, France, Mauritius Via Paytm

The company also stated that the users can set up UPI International on the Paytm app, with a one-time activation linked to the user's bank account. When scanning a UPI-enabled QR code abroad, the app will prompt activation automatically for easy access.

24 Nov 2024

Internationalisation Of UPI Progressing Rapidly: RBI

According to Patra, innovations in the digital credit landscape such as Account Aggregators, OCEN, and financial services on ONDC have also contributed to productivity gains.

24 Nov 2024

Internationalisation Of UPI Progressing Rapidly: RBI Report

The UPI hit a milestone of 16.6 billion transactions in a month in October, with improvements in its capabilities like successful instant debit reversals at 86 per cent (77 per cent in the same month last year).

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