Travel


Posts filtered by tags: Digital Payments[x]


 

5 key talking points from the RBI’s Vision 2019-2021 for Payments and Settlements in India

The RBI, a couple of days ago, released its Vision 2019-2021 document for the digital payments ecosystem, where it identifies what it intends to achieve in the next three years, and the regulatory changes that will follow in order to achieve these goals. A summary of the document is available here.... ...
Tags: Travel, News, India, Payments, RBI, Reserve Bank of India, Digital Payments


Summary: RBI’s Vision 2019-2021 for Payments and Settlements in India

The Reserve Bank of India has defined a vision for digital payments from 2019 to 2021, to “empower every Indian with access to a bouquet of e-payment options that is safe, secure, convenient, quick and affordable.” To this end, it says it intends to follow an approach that enhances... ...
Tags: Travel, News, India, Policy, Payments, Reserve Bank of India, Summary, Digital Payments


The challenge with localisation is not the expense, but that balkanised data loses its predictive power – MasterCard CEO Ajay Banga

Addressing concerns around data localisation, MasterCard CEO Ajay Banga said the challenge with localisation is not the expense, but that the data loses its predictive power once it is balkanised, compared to data that is shared across countries. Banga was addressing an investor query in the Q1... ...
Tags: Travel, News, Policy, Fintech, Mastercard, RBI, Banga, Digital Payments, Ajay Banga, Localisation, Data Localisation


BHIM’s 15.2M transactions accounted for only 1.9% of UPI payments in April 2019

The number of transactions on the Bharat Interface for Money (BHIM) UPI app was 15.2 million for the month of April 2019, up 2% from 14.9 million last month. The total value of the transactions stood at Rs 6,583.6 crore, up 3% from Rs 6,417 crore in March 2019, according to data provided by the... ...
Tags: Travel, Mobile, News, Internet, Finance, Banking, Mobile Payments, Payments, UPI, Digital Payments, NPCI, BHIM, Bharat Interface for Money BHIM UPI


WhatsApp to SC: will launch payments only after compliance with RBI norms; trial to end by July

WhatsApp today assured the Supreme Court that its payments service in India is currently in trial mode and will launch fully only after compliance with the RBI’s norms, per Bar & Bench. WhatsApp said it’s likely to complete the trial run by July. “We cannot launch the product... ...
Tags: Travel, News, Supreme Court, India, Whatsapp, Personal Data, Data Protection, UPI, Intermediary Liability, RBI, Digital Payments, Data Localization


UPI transactions grew to 781.8M in April 2019; Rs 142,034Cr transacted

The Unified Payment Interface (UPI) saw a decrease of 2.2% in the total transaction volumes taking place between March 2019 and April 2019, according to data published by the National Payments Corporation of India (NPCI). The NPCI is a private company owned by Indian banks and owns and operates... ...
Tags: Travel, News, Finance, Digital, Banking, Payments, Fintech, UPI, Digital Payments, NPCI, National Payments Corporation of India NPCI


WhatsApp at Facebook F8: “Sending money should be as easy as sending photos” – Mark Zuckerberg

“WhatsApp already has a strong privacy focus, the focus now is to build ways users may want to interact in the digital living room,” said Facebook CEO Mark Zuckerberg at Facebook’s annual developers conference F8 yesterday. By digital ‘living room’, he’s... ...
Tags: Travel, Facebook, Mark Zuckerberg, News, Privacy, Messaging, Whatsapp, Data Protection, Digital Payments, Data Localisation


Digital and card payments accounted for 28% of complaints to banking ombudsman in 2017-18

About 28% of complaints filed with the Reserve Bank of India’s banking ombudsman between July 2017 and June 2018 were about digital transactions and card payments, the central bank revealed in its annual report on the Banking Ombudsman Scheme. The scheme was introduced in 1995 as a forum for... ...
Tags: Travel, News, RBI, Reserve Bank of India, Ombudsman, Digital Payments, Banking Ombudsman, Consumer complaints


Mark Zuckerberg says Facebook “wont store data where governments can forcibly get data”

In an earnings call with investors, Mark Zuckerberg said that Facebook won’t store sensitive data in countries where it might be improperly accessed because of weak rule of law or governments that can forcibly get access to your data. He reiterated his stance against data localization, without... ...
Tags: Travel, Facebook, Mark Zuckerberg, News, Messaging, Whatsapp, Policy, Earnings, Digital Payments, Data Localization, Data Localisation


Seven banks now allow customers to set up recurring payments online

Customers of seven banks can now issue standing instructions for recurring payments online, through the National Payment Corporation of India’s (NPCI) National Automated Clearing House (NACH), the Times of India reports. Standing instructions are a way of making an automatic payment of a fixed... ...
Tags: Travel, News, Banking, Payments, Digital Payments, NPCI, ESIGN, E-mandate, electronic clearing services (ECS, National Automated Clearing House (NACH, National Payment Corporation of India


RBI’s paper on FinTech Regulatory Sandbox: relaxed regulations, liabilities remain; data security a primary concern

The RBI last week released a draft document “Enabling Framework for Regulatory Sandbox”. Comments on the draft document are invited by the RBI until May 08, 2019. The notification can be accessed here, and the paper is available for download here. The paper describes regulatory sandbox... ...
Tags: Travel, News, Regulation, Innovation, Fintech, RBI, Reserve Bank of India, Digital Payments, Fintech Regulatory Sandbox, Regulatory Sandbox


India had 46.1M credit cards, 944.5M debit cards in February 2019

In February 2019, the number of debit cards grew to 944.5 million, adding 13.28 million new cardholders. At the same time, a total of 46.1 million credit cards were in operation, with the addition of 0.89 million cards, according to the Reserve Bank of India. Between February 2018 and February... ...
Tags: Travel, Credit Cards, News, Internet, Finance, India, Debit Cards, RBI, Digital Payments, Reserve Bank of India Between, PoS Machines


Mobile wallet transactions declined by 39.8 M year on year to 345.03M in February 2019

For the month ending February 28, 2019, the number of transactions using Prepaid Payment Instruments (which includes both Mobile Wallets and PPI Cards combined) declined by 13% to 384.9 million as compared to 443.6 million in January 2019. It went down 11% (39.5M) compared to 345.4 million in... ...
Tags: Travel, Mobile, News, Internet, Payments, Mobile Wallets, RBI, Digital Payments, Prepaid Payment Instruments


Google Pay will soon let users buy and sell gold via its app

Google will soon let users in India buy and sell gold through its payments app Google Pay, PTI reported. The company said on Thursday it had partnered with MMTC-PAMP India to allow users of the app to buy 99.99% pure gold. MMTC is a Indian government public sector trading enterprise, and PAMP is a... ...
Tags: Travel, Google, News, India, Gold, Bullion, PAMP, Digital Payments, MMTC, Google Pay, MMTC-PAMP, Google Pay PTI


Does Google Pay need the RBI’s approval to operate in India?

The Delhi High Court on Wednesday asked the Reserve Bank of India how Google Pay was operating in India without its approval, PTI reported. The court was hearing a petition that claimed Google Pay had violated the Payments and Settlements Act as it did not figure in the RBI’s list of authorised... ...
Tags: Travel, Google, News, India, Payments, UPI, Delhi High Court, RBI, PTI, Digital Payments, NPCI, Google Pay, Reserve Bank of India how Google


RBI plans uniform complaints and compensation system for all digital payments

The Reserve Bank of India (RBI) announced yesterday that it is planning to standardise timelines to resolve customer complaints and compensation claims across all authorized digital payments systems. The new framework will be in place by the end of June. It said the various payment systems –... ...
Tags: Travel, News, Reserve Bank of India RBI, RBI, Reserve Bank of India, Ombudsman, Digital Payments, Consumer complaints


BHIM’s 14.9M transactions accounted for only 1.9% of UPI payments in March 2019

The number of transactions on the Bharat Interface for Money (BHIM) UPI app was 14.9 million for the month of March 2019, up 16.3% from 12.8 million last month. The total value of the transactions stood at Rs 6,417 crore, up 14% from Rs 5,624.2 crore in February 2019, according to data provided by... ...
Tags: Travel, Mobile, News, Internet, Finance, Banking, Mobile Payments, Payments, UPI, Digital Payments, NPCI, BHIM, Bharat Interface for Money BHIM UPI


SEBI extends Phase I of implementing UPI for investing in IPOs to June 30

Market regulator SEBI on Wednesday extended the timeline for implementing Phase I of Unified Payments Interface (UPI) as an alternative payment method for retail investors buying shares in a public issue. This means Phase II, which involves doing way with the need to physically move forms to block... ...
Tags: Travel, News, Ipo, Payments, UPI, SEBI, Digital Payments


25% of India’s toll is now collected electronically, says NPCI

The National Electronic Toll Collection (NETC), run by the National Payments Corporation of India (NPCI), now accounts for 25% of the toll collected on India’s highways, NPCI said in a press release. NPCI launched the electronic toll collection program in December 2016 in partnership with the... ...
Tags: Travel, News, India, Payments, Digital Payments, NHAI, NPCI, National Payments Corporation of India NPCI, Electronic Toll collection, NETC, National Electronic Toll Collection NETC


UPI transactions grew to 799.5M in March 2019; Rs 133,460.7 Cr transacted

The Unified Payment Interface (UPI) saw an increase of 18.6% in the total transaction volumes taking place between February 2019 and March 2019, according to data published by the National Payments Corporation of India (NPCI). The NPCI is a private company owned by Indian banks, and owns and... ...
Tags: Travel, News, Finance, Digital, Banking, Payments, Fintech, UPI, Digital Payments, NPCI, National Payments Corporation of India NPCI


Kotak Mahindra Bank to charge for UPI transactions from May; MediaNama’s take and a prediction

By Zaheer Merchant and Nikhil Pahwa Kotak Mahindra Bank will begin charging customers for peer-to-peer Unified Payments Interface (UPI) transactions from May 1, becoming the first bank to do so, the Times of India reported. According to the report: From May, Kotak Mahindra Bank customers will be... ...
Tags: Travel, Ecommerce, News, Payments, UPI, Times of India, Kotak Mahindra Bank, Digital Payments, Medianama, NPCI, Zaheer Merchant, Nikhil Pahwa Kotak Mahindra Bank


Coming to a town near you: Google Pay, Pine Labs and UPI payments

Google Pay and Pine Labs have tied up to give Google Pay access to 330,000 POS terminals in 3,000 towns in India, the companies said in a statement. These payments will be made through UPI at POS counters, using the Google Pay user’s phone number, which can be authenticated by the user and... ...
Tags: Travel, Google, News, Internet, India, UPI, POS, Digital Payments, Offline Stores, Pine Labs, Google Pay, Google Pay Pine Labs


Amazon to expand its offline QR code payments to More and other stores: report

Amazon Pay is looking to start its ‘scan and pay’ payments at retail stores, which it currently provides at Shoppers Stop, reports Mint. It will start this at the More supermarket, which it now co-owns with Samara Capital. Aditya Birla Retail Ltd currently operates 523 More supermarkets and 20... ...
Tags: Travel, Amazon, Ecommerce, News, Internet, UPI, Digital Payments, Offline Stores, Amazon Pay, Samara Capital Aditya Birla Retail Ltd


A lowdown on the RBI’s FinTech Regulatory Sandbox: Indications on aims, criteria, consumer protection, supervision

RBI governor Shaktikanta Das announced on Tuesday that the regulator would bring out guidelines for ‘regulatory sandbox’ for Fintech within two months. What’s a regulatory sandbox? A regulatory sandbox is a regulatory approach which creates contained space to test innovations. It... ...
Tags: Travel, Mobile, News, Internet, India, Policy, Regulation, Innovation, Fintech, RBI, Digital India, Digital Payments, Shaktikanta Das, NPCI, Fintech Regulatory Sandbox, Regulatory Sandbox


Apple’s new launches: streaming service, News+ subscription, credit card and more

Apple deviated from its usual hardware announcements during its March 2019 event, instead focusing on new software launches. Amongst the launches are new news subscriptions, games and a credit card. Here’s a lowdown of the services Apple announced: Apple TV+, a streaming service Apple TV+ is a... ...
Tags: Travel, Apple, Credit Cards, Gaming, Publishing, Video, News, Streaming, Digital Payments


Banks ask RBI to allow recurring payments in UPI 2.0: Report

Indian lenders have asked the Reserve Bank of India (RBI) to allow customers with UPI 2.0-enabled devices to use the recurring payments feature for such things as the monthly instalments on their loans, insurance premiums, and mutual fund investments, the Economic Times reported. UPI is a mobile... ...
Tags: Travel, Mobile, Ecommerce, News, Banks, Government, Payments, UPI, Reserve Bank of India RBI, RBI, Reserve Bank of India, Economic Times, Digital Payments, Recurring Payments, UPI 2.0


WeChat may launch UPI-based WeChat Pay in India by May-June: report

WeChat is planning to launch a UPI app, likely called WeChat Pay, by the end of May-June. It is in the process of obtaining a payments license, reports Entrackr. The report adds that the Chinese parent of WeChat, Tencent, has partnered with Axis Bank, HDFC and ICICI, and would like to create its... ...
Tags: News, Digital Payments, Internet, Messaging, Mobile, Tencent, UPI, Wallets, WeChat


Pine Labs acquires Amazon-backed Qwikcilver for $110 million

Pine Labs, a merchant platform based in Singapore, announced on Tuesday that it has acquired Bengaluru-based gift card solutions provider Qwikcilver – which counts Amazon among its investors – for $110 million (approx Rs758 crore). It claims to manage an annualised gross transaction... ...
Tags: Travel, Amazon, Mobile, Ecommerce, News, Internet, Singapore, India, E-commerce, Mergers & Acquisitions, Digital Payments, Qwikcilver, Pine Labs, Mergers And Acquisition


Instagram marks e-commerce debut with new ‘checkout’ button for US users

Instagram on Tuesday debuted a new ‘checkout’ button that will let users buy products tagged for sale without leaving the platform. It is the photo and video sharing platform’s first foray into e-commerce. For now, the feature is limited to users in the US who use the beta version of the app, and... ...
Tags: Travel, Ecommerce, News, Instagram, Shopping, US, E-commerce, Digital Payments


Xiaomi launches Mi Pay as a UPI app on Indian Xiaomi smartphones

Xiaomi has launched Mi Pay, its UPI payment app, for Xiaomi smartphone users in India. MIUI users can install Mi Pay from the Mi Store. Users can login with their Mi account or use another account. With Mi Pay, users can also pay utility bills (water, electricity, gas, phone recharges) across 120... ...
Tags: Travel, Mobile, News, Privacy, Internet, India, Policy, Regulation, Xiaomi, UPI, RBI, Digital Payments, Data Localisation



Filters
show more filters
March - 2019
MoTuWeThFrSaSu
    123
45678910
11121314151617
18192021222324
25262728293031
April - 2019
MoTuWeThFrSaSu
1234567
891011121314
15161718192021
22232425262728
2930     
May - 2019
MoTuWeThFrSaSu
  12345
6789101112
13141516171819
20212223242526
2728293031