India has become the fastest payment country in the world. Unified Payments Interface (UPI) has a major contribution in this achievement. In the country, the use of debit cards and credit cards and other means of payment is decreasing. Inter-bank transactions can be done immediately through smartphones from UPI developed by National Payments Corporation of…
India has become the fastest payment country in the world. Unified Payments Interface (UPI) has a major contribution in this achievement. In the country, the use of debit cards and credit cards and other means of payment is decreasing. Inter-bank transactions can be done immediately through smartphones from UPI developed by National Payments Corporation of…
The use of Unified Payments Interface (UPI) has increased rapidly in the last few years in the country. The central government is not considering re -implementing the merchant discount rate (MDR) on these transactions. The Finance Ministry has given this information. The ministry has said that UPI will remain a low cost platform for the…
The central government has refused to impose Goods and Services Tax (GST) on transactions worth more than Rs 2,000 through Unified Payments Interface (UPI). Recently some media reports stated that GST may be imposed on transactions of more than Rs 2,000 from UPI. The government has described such reports as completely wrong and misleading. It…
The scope of digital payments has increased rapidly over the years. The National Payments Corporation of India (NPCI), which operate the Unified Payments Interface (UPI), plans to add 20 to 30 crore new users for UPI. Its retail users have more than 45 crores. India’s contribution to digital transactions in the world has increased to…
Payments from mobile have increased rapidly in the last few years in the country. In the second half of the previous year, the value of transactions was increased to Rs 198 lakh crore with the use of mobile phones. This is an increase of about 30 percent on a year-on-year basis. It has an increased…