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Digital payments company PhonePe has raised USD 350 million from General Atlantic at a valuation of over USD 12 billion in a first tranche of a USD 1 billion funding round.
funding, investment, UPI, payments , digital payments, expansion
India has planned to spend around USD 320 million to promote cards in RuPay and for low-value UPI transaction to stir the growth of its national payments network.
UPI, credit card, NPCI, POS, ecommerce
The Reserve Bank of India has introduced a single-block-and-multiple debits functionality in UPI to augment payments for ecommerce and investments in securities.
UPI, RBI, product upgrade, ecommerce, investment
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 National Payments Corporation of India (NPCI) has decided to delay the enforcement of a payment market share cap on UPI until 31 December 2024.
compliance, regulation, UPI, payment methods
India-based payments company Paytm has implemented a feature that allows users to make UPI payments to mobiles registered with third-party UPI apps.
mobile payments, product upgrade, payment methods, UPI, mobile banking
Google has announced that it introduced UPI Autopay as a payment option on Play Store to enable its India-based users to purchase subscriptions using UPI.
product upgrade, payments , online payments, payment methods, UPI, digital wallet, recurring payments
India-based payments and API banking solution Cashfree Payments has enabled food delivery company Zepto with an augmented checkout experience using its payment gateway.
Cashfree, delivery, UPI, checkout optimisation , mobile payments, API
Worldline has started collaborating with NPCI International to expand acceptance of mobile payments for Indian tourists across Europe.
Worldline, mobile payments, POS, QR payments, UPI
Netherlands-based TerraPay has partnered NPCI International Payments Limited to enable seamless merchant payments via UPI-enabled QR codes.
cross-border payments, QR payments, online payments, UPI
The Russian and Indian Governments have gotten closer to an agreement to have cards based on Russia’s Mir payment system be accepted at ATMs and POS in India.
Russia Ukraine War, financial sanctions, UPI, cross-border payments
India-based NPCI International Payments (NIPL) has signed a MoU with PayXpert to internationalise the acceptance of its payment solutions in the UK.
UPI, NPCI, partnership, QR payments, mobile payments, POS
India-based fintech RazorPay has acquired payment solutions company Ezetap in a cash-and-equity deal to tap offline payments.
omnichannel, acquisition, UPI, tokenization, online payments
WhatsApp has onboarded RazorpayX, the neo-banking arm of Razorpay, to enable a smooth cashback experience via UPI for its users across India.
UPI, WhatsApp, Razorpay, cashback, mobile payments
Apple has confirmed that credit and debit cards no longer work for subscription payments in India to comply with new government regulations.
debit card, credit card, Apple, subscription payments, UPI
WhatsApp has announced it will ask users for their legal names to proceed with UPI-based payments on the platform.
WhatsApp, UPI, fraud prevention, mobile payments, NPCI, bank account, digital identity
NPCI International Payments Ltd (NIPL), the international arm of the National Payment Corporation of India (NPCI), has announced that BHIM UPI is now live at NEOPAY terminals, across the UAE.
NPCI, UPI, merchant, partnership, digital payments
Three days after adding support for the Unified Payments Interface payment instrument in India, Coinbase has removed the feature to purchase Bitcoin using the system in India, according to Bitcoinist.
UPI, Bitcoin, RBI, NPCI, cryptocurrency exchange, cryptocurrency
India-based banking solution company Cashfree Payments has rolled out Aadhaar Verification for authenticating bank accounts, PAN, UPI, and IFSC.
identity verification, product launch, KYC, IBAN, UPI
Google Pay has launched the ‘Tap to Pay’ UPI-based payment system on collaboration with Pine Labs.
Google Pay, UPI, Tap-to-Pay, mobile payments, contactless payments, NFC