Unified Payments Interface (UPI), which has emerged as the world’s most popular alternative payments method (APM), processed transactions to the tune of ₹80.8 lakh crore ($964 billion) in April-July 2024, a sharp 37% year-on-year (y-o-y) surge compared to the same timeframe the previous year. Transaction metrics and global comparison UPI processed a staggering 3729.1 transactions … Read more
The increasing number of credit card frauds highlights the critical need for robust security measures in the financial industry. As technology advances, so do the methods used by cybercriminals to exploit vulnerabilities in payment systems. This rise in fraudulent activities underscores the necessity for financial institutions, businesses, and consumers to adopt comprehensive security strategies to … Read more
In an interview with MintGenie, Singh said that fintechs and NBFCs can play a considerable role in solving the credit accessibility and creditworthiness of SMEs and MSMEs. Edited Excerpts: India has the largest MSME base after China. Keeping that in mind, what trends do you think are dominating the industry right now? Can you highlight at … Read more
HDFC Bank has launched ‘PIXEL’ credit cards that are being billed as fully digital offerings. PIXEL comes in two versions ‘PIXEL Play’ and ‘PIXEL Go’. While banks already allow electronic versions of physical credit cards enabling UPI and digital transactions, HDFC’s PIXEL Play and PIXEL Go are entirely digital offerings. The customer will be onboarded … Read more
Volume of Unified Payments Interface (UPI) transactions fell to ₹19.64 lakh crore in the month of April against ₹19.78 lakh crore in the preceding month. In terms of transaction count, the number fell to 13.30 billion from 13.44 billion in March. When compared with April last year, the number of transactions saw a growth of … Read more