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DIGITAL PAYMENT SYSTEM BENGALURU
Bengaluru to digitise contractor bill processing, link payments to work progressBengaluru Development Minister Krishna Byre Gowda has directed officials to introduce a time-bound digital system for processing and paying...- UPI fee could recover up to Rs 15,000 crore annually while keeping most transactions freeNational Payments Corporation of India plans to introduce a 0.4% merchant discount rate for UPI transactions. This could help recover about...
- Proposed 0.4% UPI MDR could recover Rs 15,000 crore in first year: NPCI chiefGold may have pushed silver into the spotlight, but the shift is not just about price. Younger Indians, in particular, are looking at silve...
- Banks’ biggest risks may now sit inside their tech stack: RBI Deputy Governor Rohit JainRBI Deputy Governor Rohit Jain said technology is no longer merely an enabler for banks but is becoming their “risk architecture”, making t...
- Pine Labs teams up with Google Cloud to bring AI agents to merchantsPine Labs has announced a partnership with Google Cloud to support Indian merchants in future AI-driven commerce. The collaboration aims to...
- PhonePe to hire 20,000 staff, deploy 50 lakh payment devices in next yearIn an ambitious move to bolster India's digital payment landscape, PhonePe is set to hire more than 20,000 sales professionals aimed at exp...
- Chennai industry meet draws over 300 companies ahead of Bengaluru Tech SummitIndustry leaders, investors and entrepreneurs from the city engaged with Karnataka officials on opportunities to collaborate through the su...
- Government may do away with UPI subsidies as MDR revenue kicks inGovernment may end UPI subsidies for small transactions as merchant fees are introduced. Taxpayer-funded incentives for UPI and RuPay trans...
- As SMEs digitise and expand globally, foreign banks have a crucial role to play: DBS Bank India’s Divyesh DalalDBS Bank India is enhancing its support for SMEs with the launch of its new Collections Orchestration platform, aiming to streamline paymen...
- UPI for mutual funds: Benefits, limits and impact of new MDR explainedUnified Payments Interface (UPI) enables convenient investment in mutual funds through instant payments and SIPs. Investors appreciate UPI ...
- MDR gives banks more fuel for UPI playPayment companies can build the customer interface, but a product cannot scale until issuing and acquiring banks connect their systems, tes...
- The next phase of India’s digital payments dominance: Trusted AI-led agentic commerce, Visa’s Sethi saysIndia’s digital payments ecosystem is a “showcase for the world”. The infrastructure is ready to take the next leap: agentic commerce, wher...
- UPI vs credit cards - How India's payments system is boosting savings and benefitting multiple stakeholdersThe Anglo-Saxon economies of the US, United Kingdom and Australia show a reduction in household savings rates along with a growth in credit...
- India must rethink cross-border payments beyond corridors, put customers first: DeloitteA shift from corridor-led expansion to customer-centric design forms the core principle needed to drive the next stage of India's cross-bor...
- Pass the buck to RBI, banks: Let the savings from digital payments fund UPI costs, not consumersThe RBI's MDR introduction on UPI transactions above ₹2,000 faces criticism. This move may discourage digital payments and encourage a retu...
- UPI's free lunch is over: Why the 0.4% MDR charge is fair, needed and overdueDigital payment charges are necessary for service efficiency and wider reach. Person-to-person and small transactions remain free from new ...
- Delhi new traffic challan system: 50% payment required before appeal, designated officers to dispose grievancesDelhi will soon implement a new traffic challan system for motorists. Grievance rejection will require depositing fifty percent of the pena...
- MDR on UPI not imposed due to external pressure, say govt sourcesOfficials clarified that there is no separate GST levied on MDR charges. While GST will apply to MDR on UPI transactions, businesses will b...
- Return of MDR a key step towards making UPI sustainable and enabling further growth: ExpertsEffective October 15, UPI payments to merchants (P2M) above Rs 2,000 will attract a 0.4% merchant discount rate with an overall cap of Rs 3...
- Plea in SC against imposition of MDR on UPI payments of above Rs 2,000The government has introduced a 0.4% fee on UPI payments of more than Rs 2,000 made to merchants from October 15. Under this, a merchant di...
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