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No Plan To Levy Merchant Discount Rate On UPI Transactions: Finance Ministry
The Finance Ministry on Wednesday said that "speculation and claims that the MDR (merchant discount rate) will be charged on UPI transactions are completely false, baseless, and misleading".
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Exclusive: Government Weighs Charges On UPI Payments Over Rs 3,000
This comes as banks and payment service providers have raised concerns about the rising cost of handling high-value digital transactions.
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Apple Expands Tap to Pay on iPhone to Austria, Sweden and More Countries
Apple is expanding its Tap to Pay for iPhone to more countries, the company announced on Tuesday. Now, business merchants in Austria, Ireland, Sweden and more countries will be able to use its services for accepting in-person and contactless payments without requiring any additional hardware.
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Visa Partners Wirex to Offer Crypto Payment Services to Merchants Globally
Visa has struck a partnership with Wirex to bring crypto payment services to merchants around the world. An alternative to banking, Wirex allows people to process transactions in traditional currencies as well as through crypto assets.
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Binance Pulls the Shutter Down on Its Fiat-to-Crypto Platform Binance Connect a Year After Launch
Binance shut down its fiat-to-crypto platform Binance Connect on Wednesday. The company reportedly conducted an internal review of its service offerings and evaluated which ones were not bringing in the expected engagement. Binance Connect, unfortunately, did not make it to the list of services that the exchange decided to retain.
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Paytm Expects to Generate Free Cash Flow by Year-End: CEO Vijay Shekhar Sharma
Fintech firm One97 Communications, which operates under the Paytm brand, expects to generate free cash flow by the end of this year, a top company official said on Saturday. Paytm founder and CEO Vijay Shekhar Sharma, in an earnings call, said that growth for the company in the June 2023 quarter came on account of expansion in payments, financial ...
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Paytm Signs MoU With Arunachal Pradesh to Create Startup Ecosystem
Paytm Payment Services Limited (PPSL) on Thursday signed an MoU with ArunachalPradesh Innovation and Investment Park (APIIP) to create a startup ecosystem for the youth in the northeastern state, officials said. According to the MoU, Paytm Incubation Centre will provide its product to early-stage startups at a discounted price and off...
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Paytm Wins RBI Extension for Payment Aggregator Licence Application: Details
Paytm on Sunday said it had received an extension from the country's banking regulator to apply for a payment aggregator licence. The RBI had declined a payment aggregator licence for the firm in November. Paytm said it aims to reapply for a payment aggregator licence in 15 about days.
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India, Singapore to Link Digital Payments Systems UPI, PayNow for Cross-Border Transactions: All Details
India and Singapore are set to link their digital payments systems UPI and PayNow for easier cross-border transactions. The linkage of these two payment systems of both countries would enable residents of both countries to the faster and more cost-efficient transfer of cross-border remittances.Â
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Amazon 'Buy With Prime' to Roll Out to US Merchants on January 31 to Compete With Shopify Pay
Amazon has announced that it will roll out its 'Buy With Prime' button to allow merchants to sell products using its payment and delivery services outside it's shopping platform. The invite-only launch that was made available in April last year will be widely available to merchants in the US by January 31, according to the e-commerce firm.
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Binance Pay Launches in US Amid Massive Withdrawals Shaking Up Platform
Binance is now offering its Binance Pay service in the US market. The feature, which supports peer-to-peer payments as well as merchant transactions, enables users to facilitate immediate payments via cryptocurrencies supported by Binance. The exchange does not charge a gas fee for facilitating transactions through the Binance Pay app.
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RBI to Introduce 'Single Block, Multiple Debits' Feature on UPI for E-Commerce, Investments
The RBI will add a feature on the Unified Payments Interface (UPI) platform that will allow for delayed payments for specific goods and services. The 'single-block-and-multiple debits' feature on the UPI platform will uild higher degree of trust in transactions as merchants will be assured of timely payments, while the funds remain in the customer'...
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Paytm to Resubmit Application for Authorisation of Payment Aggregator Services
Paytm has shared an update with the exchanges about its 100 per cent subsidiary, Paytm Payments Services. The company can now resubmit the application within 120 calendar days for the payment aggregator services. Ahead of that, the company will seek necessary approval for past downward investment from Paytm into its subsidiary.
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NPCI Partners With Worldline to Bring UPI, RuPay Services Across Europe: All Details
NPCI and global payments services provider Worldline have announced a partnership to expand the availability of UPI and access to payments with RuPay cards across Europe. Indian customers in European markets will be able to use RuPay cards and make Unified Payments Interface (UPI) transactions at merchants' point-of-sale (POS) systems, instead of p...
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Pine Labs Sets Target of Up to $5 Billion in Monthly Payments Volume From Plural Service in Two Years
Pine Labs, the company that provides point-of-sale machines to offline merchants for card payments, said it is targeting up to $5 billion (roughly Rs. 39,600 crore) in monthly transactions within two years, for its online payments business, Plural. The firm also expects online payments to contribute 20 percent of revenue. Plural was launched last y...
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No Plan To Levy Merchant Discount Rate On UPI Transactions: Finance Ministry
The Finance Ministry on Wednesday said that "speculation and claims that the MDR (merchant discount rate) will be charged on UPI transactions are completely false, baseless, and misleading".
-
Exclusive: Government Weighs Charges On UPI Payments Over Rs 3,000
This comes as banks and payment service providers have raised concerns about the rising cost of handling high-value digital transactions.
-
Apple Expands Tap to Pay on iPhone to Austria, Sweden and More Countries
Apple is expanding its Tap to Pay for iPhone to more countries, the company announced on Tuesday. Now, business merchants in Austria, Ireland, Sweden and more countries will be able to use its services for accepting in-person and contactless payments without requiring any additional hardware.
-
Visa Partners Wirex to Offer Crypto Payment Services to Merchants Globally
Visa has struck a partnership with Wirex to bring crypto payment services to merchants around the world. An alternative to banking, Wirex allows people to process transactions in traditional currencies as well as through crypto assets.
-
Binance Pulls the Shutter Down on Its Fiat-to-Crypto Platform Binance Connect a Year After Launch
Binance shut down its fiat-to-crypto platform Binance Connect on Wednesday. The company reportedly conducted an internal review of its service offerings and evaluated which ones were not bringing in the expected engagement. Binance Connect, unfortunately, did not make it to the list of services that the exchange decided to retain.
-
Paytm Expects to Generate Free Cash Flow by Year-End: CEO Vijay Shekhar Sharma
Fintech firm One97 Communications, which operates under the Paytm brand, expects to generate free cash flow by the end of this year, a top company official said on Saturday. Paytm founder and CEO Vijay Shekhar Sharma, in an earnings call, said that growth for the company in the June 2023 quarter came on account of expansion in payments, financial ...
-
Paytm Signs MoU With Arunachal Pradesh to Create Startup Ecosystem
Paytm Payment Services Limited (PPSL) on Thursday signed an MoU with ArunachalPradesh Innovation and Investment Park (APIIP) to create a startup ecosystem for the youth in the northeastern state, officials said. According to the MoU, Paytm Incubation Centre will provide its product to early-stage startups at a discounted price and off...
-
Paytm Wins RBI Extension for Payment Aggregator Licence Application: Details
Paytm on Sunday said it had received an extension from the country's banking regulator to apply for a payment aggregator licence. The RBI had declined a payment aggregator licence for the firm in November. Paytm said it aims to reapply for a payment aggregator licence in 15 about days.
-
India, Singapore to Link Digital Payments Systems UPI, PayNow for Cross-Border Transactions: All Details
India and Singapore are set to link their digital payments systems UPI and PayNow for easier cross-border transactions. The linkage of these two payment systems of both countries would enable residents of both countries to the faster and more cost-efficient transfer of cross-border remittances.Â
-
Amazon 'Buy With Prime' to Roll Out to US Merchants on January 31 to Compete With Shopify Pay
Amazon has announced that it will roll out its 'Buy With Prime' button to allow merchants to sell products using its payment and delivery services outside it's shopping platform. The invite-only launch that was made available in April last year will be widely available to merchants in the US by January 31, according to the e-commerce firm.
-
Binance Pay Launches in US Amid Massive Withdrawals Shaking Up Platform
Binance is now offering its Binance Pay service in the US market. The feature, which supports peer-to-peer payments as well as merchant transactions, enables users to facilitate immediate payments via cryptocurrencies supported by Binance. The exchange does not charge a gas fee for facilitating transactions through the Binance Pay app.
-
RBI to Introduce 'Single Block, Multiple Debits' Feature on UPI for E-Commerce, Investments
The RBI will add a feature on the Unified Payments Interface (UPI) platform that will allow for delayed payments for specific goods and services. The 'single-block-and-multiple debits' feature on the UPI platform will uild higher degree of trust in transactions as merchants will be assured of timely payments, while the funds remain in the customer'...
-
Paytm to Resubmit Application for Authorisation of Payment Aggregator Services
Paytm has shared an update with the exchanges about its 100 per cent subsidiary, Paytm Payments Services. The company can now resubmit the application within 120 calendar days for the payment aggregator services. Ahead of that, the company will seek necessary approval for past downward investment from Paytm into its subsidiary.
-
NPCI Partners With Worldline to Bring UPI, RuPay Services Across Europe: All Details
NPCI and global payments services provider Worldline have announced a partnership to expand the availability of UPI and access to payments with RuPay cards across Europe. Indian customers in European markets will be able to use RuPay cards and make Unified Payments Interface (UPI) transactions at merchants' point-of-sale (POS) systems, instead of p...
-
Pine Labs Sets Target of Up to $5 Billion in Monthly Payments Volume From Plural Service in Two Years
Pine Labs, the company that provides point-of-sale machines to offline merchants for card payments, said it is targeting up to $5 billion (roughly Rs. 39,600 crore) in monthly transactions within two years, for its online payments business, Plural. The firm also expects online payments to contribute 20 percent of revenue. Plural was launched last y...
