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India’s Unified Payments Interface (UPI) has integrated with PayNow to allow the India diaspora in Singapore to send remittances to recipients in India.
remittance, transactions , partnership, cross-border payments
China-based UnionPay International has partnered with Singapore-based ecommerce platform Lazada to support international online transactions.
partnership, online payments, ecommerce, expansion
India-based CRED has partnered with Shopify to diversify payment options for merchants operating on the Shopify platform.
partnership, ecommerce, payments , payment methods
India-based CRED has partnered with the NPCI to introduce RuPay credit card UPI payments and make transactions more convenient for its members.
partnership, mobile payments, payments , product upgrade
France-based Worldline has entered a new collaboration with HEC Paris and the HEC Foundation to explore the future of payments.
partnership, payments , research, digital payments
Payment service provider Worldline has launched VABOX (Voice Alert Box) to facilitate instant payment voice alerts for merchants in India.
Worldline, QR code, instant payments, product launch, merchant
India-based company Razorpay has launched a forex service for startups, to offer foreign exchange products for an improved cross-border payments processing.
product launch, startup, cross-border payments, cross-border ecommerce, ecommerce, online payments, digital payments
India-based fintech Razorpay has announced that it will enable merchants to accept credit card transactions on Unified Payments Interface (UPI) in partnership with Axis Bank.
partnership, product upgrade, UPI, digital payments, digital banking, digitalisation, payment methods, credit card
The Reserve Bank of India has announced plans on a phased introduction of a central bank digital currency and will put forth a final design after it has conducted large scale pilot projects.
CBDC, central bank, digital currency, fintech, cryptocurrency, crypto asset
The Reserve Bank of India (RBI) has consulted with public sector banks and fintechs such as FIS in order to test out a central bank digital currency.
banks, CBDC, cryptocurrency, digital assets
India-based Punjab National Bank has teamed with retailer Patanjali Ayurved to launch co-braded contactless credit cards on NPCI’s RuPay platform.
credit card, debit card, partnership, financial inclusion, cashback, NPCI, loyalty programme
Xoom, UPI, payments , remittances, India
National Payments Corporation of India (NPCI) and JCB International, together with Indian banks, have launched RuPay JCB global cards.
NPCI, India, RuPay, JCB Card, card, merchant, ATM, POS
The Wall Street Journal has revealed that Punjab National Bank had been defrauded USD 556 million from a borrower, Bhushan Power & Steel.
Punjab National Bank, fraud, scam, borrower, banks, the Reserve Bank of India, loan, bankruptcy, accounts, scandal, supply chain, liquidity, credit, fraudulent activity
India’s central bank has fined at least 19 lenders for failing to comply with its guidelines on the use of global payments network SWIFT.
RBI, India, lenders, compliance, SWIFT, ICICI Bank, State Bank, banks, penalties, loan fraud, credit guarantees, regulations, payments , interbank, banking, fines, financial system
Unique Identification Authority of India (UIDAI) has revoked fintech`s access to a dozen agencies that provide eKYC verification and authentication services.
UIDAI, India, eKYC, fintech, authentication, identity verification
A financing platform in India has launched a blockchain-based solution to help prevent fraudulent double financing of invoices.
MonetaGo, blockchain, India, trade finance, financing platform, invoice financing, RXIL, ATReDS, MYND Solutions, trade receivables
India’s City Union Bank systems have been hacked and USD 2 million were transferred through three unauthorized remittances to lenders overseas via the SWIFT platform.
City Union Bank, cyber attack, India, SWIFT, bank heist, remittances, money transfers, online security
Citibank and Standard Chartered Bank have become shareholders of SWIFT India Domestic Services.
Citibank, Standard Chartered Bank, shareholders, SWIFT India
Punjab National Bank and state-run company BSNL have collaborated to roll out open mobile wallet Speedpay across 10 states in the country.
Punjab National Bank, BSNL, mobile wallet, Speedpay, India, mobile payments