digital payments

Image Source : HTTPS://WWW.APPLE.COM Apple launches 'Pay Later’ option for online and in-app purchases Apple has introduced a new service called "Apple Pay Later" that allows customers to buy Apple products in instalments. The service offers the option to split the total cost of a product into four payments, which can be spread out over six weeks, with zero interest…

National Payments Corporation of India (NPCI) on Wednesday said there is no charge for the bank account to bank account-based UPI payments or normal UPI payments. However, interchange charges are only applicable for the prepaid payment instruments (PPI) merchant transactions and there is no charge to customers, NPCI clarified in a statement.NPCI has permitted the PPI wallets to be part of interoperable UPI ecosystem and levied 1.1 percent charge on unified payment interface (UPI) transactions above Rs. 2,000 while using…

Indian digital payments firm PhonePe said on Friday it has raised $200 million (roughly Rs. 1,650 crore) from majority backer Walmart at a pre-money valuation of $12 billion (roughly Rs. 98,997 crore).PhonePe, already India's most valuable payments firm and among the country's most highly-valued startups, said the investment is part of its ongoing fundraise of up to $1 billion (roughly Rs. 8,249 crore).It has raised $350 million (roughly Rs. 2,887 crore) from private equity firm General Atlantic and $100 million (roughly…

Reserve Bank of India Governor Shaktikanta Das on Monday launched mission Har Payment Digital with the objective of making every citizen a user of digital payments as part of Digital Payments Awareness Week (DPAW) 2023 from March 6 to 12.Digital Payment Apnao, Auron ko Bhi Sikhao (Adopt digital payments and Teach others also) -- will be the theme for this awareness week, according to the central bank's statement released today.Over the last few years, the usage of digital payments in India has seen exponential growth.…

New Delhi: Prime Minister Narendra Modi on Friday urged finance ministers and central bank governors of G20…

With no end to the tech downturn in sight, the industry’s titans are eyeing new markets. The bigger, the…

Mintoak, a Software-as-a-Service (SaaS) platform focused on merchant services, has raised $20 million led by PayPal Ventures with participation from British International Investment and existing investors HDFC Bank and Pravega Ventures.HDFC Bank increased its stake to 7.75% from 5.20% through its investment, the Mumbai-based startup added.HDFC Bank had announced the funding in a stock exchange filing in December.Other institutional investors, including White Whale Partners, also invested in the round, it said. British…

Prime Minister Narendra Modi and Singaporean counterpart Lee Hsien Loong will witness the launch and linkage of cross-border connectivity between the Unified Payments Interface (UPI) of India and PayNow of Singapore on Tuesday. The linkage of these two payment systems of both countries would enable residents of both countries to the faster and more cost-efficient transfer of cross-border remittances. The launch is scheduled at 11 am on Tuesday and is to be held via video conferencing. Shaktikanta Das, Governor, Reserve…

The country's largest private sector lender HDFC Bank on Monday said it is attempting to execute digital payments in an offline mode under a regulatory facility to test innovations. Apart from executing transactions in no network areas, such a facility will be of help in urban pockets experiencing bad networks and also in aircraft, according to a statement. It can be noted that there is a facility which helps users with feature phones undertake Unified Payments Interface (UPI) transactions. HDFC Bank has begun…

India is in talks with nine African countries to export its technology, which has helped the South Asian nation to successfully build a biometric identification system and a digital payments network. India is in talks with nine African countries to export its technology, which has helped the South Asian nation to successfully build a biometric identification system and a digital payments network.India Stack, a moniker for application programming interfaces and apps, uses the country's unique biometric identity, known…