There has been a shift in spending trends among consumers. With the increase in cashless transactions, a study revealed that people are spending more than before. The study was conducted by a team from University of Melbourne and University of Adelaide, it analysed 71 papers and looked at spending habits of 17 countries published in … Read more
Will the RBI’s (Reserve Bank of India) latest decision to allow UPI (Unified Payments Interface) for cash deposits at ATMs (Automated Teller Machines) result in debit cards losing their relevance? The once ubiquitous debit cards are already slowly giving way to UPI. While the share of mobile payments has more than doubled in the last … 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
The NPCI is likely to review its decision to implement a 30 per cent cap on the market share of payment players offering Unified Payments Interface (UPI) services by the end of 2024, reported Business Standard. As of now, the deadline to bring this change remains unchanged i.e., December 2024. “There is still time for … Read more
While the Unified Payments Interface (UPI) has become a part of our everyday life, there’s one limitation that hinders the user experience — not being able to use the money in your online wallet to make UPI transactions to web or mobile application other than that provided by the prepaid payment instrument (PPI) issuer. Thanks … Read more
With the Unified Payments Interface (UPI) having gained massive popularity for an array of transactions, depositors will soon be able to use this phone banking interface service to deposit cash at cash deposit machines (CDMs) at ATMs and bank branches. Although it is a natural progression in the continuum of fintech evolution we are all … Read more
The rise in digital payments brings various challenges within complex payment systems. In such a scenario, numerous factors can contribute to online payment failures. Online payment failures can be exasperating for both customers and businesses. Here are five common reasons for online payment failures in India and ways to prevent them: 1)Scheduled Maintenance and Downtime … Read more