All commercial banks are actively consider implementing this process to combat fraudulent activities.
The RBI wanted to reduce concentration risks in the payments sector and provide users with more options
Efficient payment systems are necessary for delivery of subsidy but they should also be tailored to the living conditions of the poor
UPI 2.0 gives a new horizon and expends financial benefits to the bottom of the pyramid
The concept of soundwave payments is rich and much-needed in our country where most people lack financial literacy
UPI has emerged as the favourite mode of payment for small investors, comprising 42% of all retail applications in IPOs in June
E-Rupi Benefits: Users of this one-time payment mechanism will be able to redeem the voucher without a card, digital payments app or internet banking
Besides NEFT and RTGS, gross payment facility NACH will be available 24X7, RBI had announced.
NPCI has issued new guidelines for UPI platforms regarding prepaid vouchers dismissing the need for UPI apps or bank accounts altogether
Bhutan is the first country to adopt India’s Unified Payment Interface (UPI) standards for its quick response (QR) code