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India and Singapore have linked their digital payment systems, UPI and PayNow to enable instant and low-cost transfers between the two countries.
remittance, money transfer, cross-border payments, payments infrastructure, UPI, PayNow, real-time payments
The Linux Foundation, a non-profit organisation enabling open-source innovation, has announced the intention to form the OpenWallet Foundation (OWF).
e-wallet, partnership, digitalisation, digital identity, digital payments
The Reserve Bank of India (RBI) has officially granted recognition to the DigiLocker platform, which allows citizens to store their personal documents online, for KYC process.
e-documents, DigiLocker, KYC, RBI, PMLA Act, video-KYC, banks, identity, customer identification
The committee on fintech-related issues has recommended the usage of video-based KYC and the services of DigiLocker for the KYC registration process by fintechs.
fintech, video, KYC, DigiLocker, India, financial services, regulations, verification, UIDAI, identification, authentication, fraud, security risks, taxation
Paytm, a payment services provider, is set to integrate with India Stack, an API-based technologies provider, to develop the platform’s open-stack technology and ensure improved experience for its customers and merchants.
Paytm, India Stack, Payments Bank, Customers, online sales, banking, payments processor, provider, partnership