WhatsApp has started working on building its payments service for other countries even as it waits for the "green light" from Indian authorities for offering the feature to its user base here. Facebook-owned WhatsApp has been testing its payments services in India for a few months now with about one million users and is waiting
WhatsApp's plan for a widespread roll out of its payment platform has met with an unexpected roadblock. The government of India has reportedly held up Facebook's plans for a nationwide roll out of WhatsApp payments over concerns about how users' data will be stored among other issues. According to Bloomberg, the Ministry of Electronics and
The National Payments Corporation of India (NPCI) is expected to launch the upgraded version of its Unified Payments System (UPI), dubbed as UPI 2.0 in July. The new update is said to come with a variety of anticipated features, which would add to peer-to-peer payments and promote merchant transactions. However, now a new report from
The National Payments Corporation of India (NPCI) launched Unified Payments System (UPI), a peer-to-peer payments system in August 2016. Now, almost two-years later, NPCI is expected to launch the upgraded version, UPI 2.0, on July 13. And while the current payment system promotes peer-to-peer payments, UPI 2.0 could bring nifty features to promote merchant transactions.
In 2016, former RBI Governor Raghuram Rajan launched the cashless payments platform, UPI (Unified Payments Interface). The inter-bank fund transfer platform is operated by the National Payments Corporation of India (NPCI), and it allows for instant funds transfer. The use of UPI rose after demonetization. In fact, last month, 247 million UPI transactions were recorded
The number of transactions via unified payments interface (UPI) grew 30 per cent to over 246 million in June over the previous month, according to the data available with the National Payments Corporation of India (NPCI). A total of 246.37 million UPI transactions were conducted in June this year, as against 189.48 million in May
Popular messaging app WhatsApp has claimed it shares limited data of payment service with its parent firm Facebook and the social media major does not use the information for commercial purpose. "Facebook does not use WhatsApp payment information for commercial purposes, it simply helps pass the necessary payment information to the bank partner and NPCI.
The financial year 2017-18 has been a big success for the Bharat Interface for Money (BHIM) app. As per data from the National Payments Corporation of India (NPCI), the app has been used to facilitate 913 million transactions during the financial year ending 31 March 2018, with a value of Rs one trillion (Rs 100,000
The National Payments Corporation of India (NPCI) has mandated in a recent announcement that every UPI application must be able to scan BharatQR codes and respond to merchant payment requests. The deadline to adhere to the guideline for all banking apps is April 16. Above interoperability features must be enabled by April 16, 2018 by
The National Payments Corporation of India (NPCI) has updated its cashless payments app, BHIM, with performance improvements, bug fixes and enhanced QR code scanning feature. The Android and iOS update also adds new banks that you can link to your UPI (Unified Payments Interface) account as default bank account. UPI was launched in August 2016
The National Payments Corporation of India (NPCI) - an umbrella organisation for all retail payments in India - registered 145.46 million transactions on its digital Unified Payments Interface (UPI) in December, 2017 from just 4.15 million in January last year. The value of transactions in December also jumped to Rs 13,144 crore from a mere
The government-backed Unified Payments Interface (UPI) crossed 100 million monthly transactions for the first time in November, according to data released by the National Payments Corporation of India (NPCI) which manages all retail payments systems in India. UPI recorded 105 million transactions last month, growing 38 percent since October. The value of transactions touched $1.5
United Payments Interface (UPI) transactions recorded over 100 percent growth in October compared to the month before. The instant payment mechanism recorded 76.9 million transactions as compared to 30.9 million transactions in September.
That WhatsApp is getting into payments was reported a few months ago. Now, a new beta version of the app has surfaced, and it reflects an UPI payment option for peer-to-peer (P2P) money transfer. India's likely to be the first market to get WhatsApp's payment feature that is being built on the government-backed Unified Payments Interface. WhatsApp version '2.17.295' was spotted by technology blog WABetaInfo on the Google Play Beta Program.
The National Payments Corporation of India (NPCI), which operates all retail payments functions in the country, recorded 1 billion transactions for the month of July, it announced in a statement. NPCI started its services in January 2010 with a monthly transaction volume of 50 million. It has grown 20X in seven years. But a major fillip came from demonetization last November, after which digital transaction shot up on all platforms. The United Payments Interface (UPI), which is supported by over 50 banks is a major driver of NPCI's growth.
Developed by the National Payments Corporation of India (NPCI), the United Payments Interface (UPI) now boasts 11.63 million transactions in July, following a rise of 10 percent. Launched last year, the app witnessed significant growth post-demonetization in the country.
Global payments gateway PayU is now a part of the Indian government-backed Unified Payments Interface (UPI) platform. PayU India has launched its own UPI app that was in the pilot stage for three months, ET reports. The app is already being used by three lakh customers and has recorded transactions of over Rs. 12 crore. PayU is backed by South African investment giant Naspers and it integrates online payment services and provides tools to facilitate e-commerce activities.
The National Payments Corporation of India (NPCI) has secured two huge global players Uber and Amazon that will soon enable UPI-based payments on its platform, ET reported. Uber is expected to launch the facility in a few weeks through an integration with the BHIM app. Its rival Ola too had integrated UPI some months ago. NPCI says that most Uber payments still happen in cash. With UPI-integration, both riders as well as drivers (who pay to Uber) would be urged to make digital payments.
The government-backed Aadhaar Enabled Payment System (AEPS) is finally catching up with India s rural population, the very segment it is aimed at, with transactions growing six-fold since demonetization. AEPS transactions crossed 6 million in April, according to data from the National Payments Corporation of India (NPCI) the creator of the payments service. Before demonetization, transactions stood at less than a million.
The government s push for digital and cashless transactions peaked after demonetization, and led to the rollout of a slew of payments apps one of them being Digi Pay, an Aadhaar-linked payments app, that is currently being used by 22,000 Village Level Entrepreneurs (VLEs) across the country, IT Minister Ravi Shankar Prasad announced this morning.