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Bharti Airtel, Unit Pay Rs. 5,985 Crore to Clear 'High-Cost' 2024 Spectrum Dues
Bharti Airtel, along with Bharti Hexacom, has prepaid Rs. 5,985 billion to the government, clearing "high-cost" liabilities from the 2024 spectrum auctions. India's second-largest telecom firm has reduced its spectrum-related debt to Rs. 52,000 crore, lowering the cost of debt to 7.22%. Airtel has been actively prepaying dues from past aggressive s...
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JioBharat V3 and V4 4G Feature Phones With JioPay Integration Launched in India: Price, Features
Reliance Jio launched its latest 4G feature phones dubbed JioBharat V3 and JioBharat V4 at the Indian Mobile Congress (IMC) 2024 in India on Tuesday. The 4G feature phones boast an exclusive suite of Jio services such as JioPay integration which facilitates UPI payments, live TV services, and unlimited voice calling with select recharge plans.
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Google Pay Announces UPI Circle, UPI Vouchers and More Features at Global Fintech Fest 2024
Google Pay, the Unified Prepaid Interface (UPI) payments app, announced new features at the Global Fintech Fest (GFF) 2024. The company said that these new features, which will be rolled out later this year, will make it easier for users to make payments and transact through the app. Some of the features announced at the GFF include UPI Circle, UPI...
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RBI Issues Alert Against Prepaid Payment Instruments By Illegal Entities
The Reserve Bank of India (RBI) on Thursday cautioned the public against Prepaid Payment Instruments issued by unauthorised entities.
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FASTag KYC Deadline Could Be Extended Beyond February 29: Report
FASTag KYC Update: FASTag is an electronic toll collection system in India, operated by the NHAI. It employs RFID technology for making toll payments directly from the prepaid or savings account linked to it or directly toll owner.
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Visa Sued In US Over "Vanilla" Gift Card Scam Known As "Card Draining"
A group of consumers have filed a lawsuit against the Visa card company, claiming that the card payments network did not take adequate measures to prevent the theft of funds from prepaid "Vanilla" gift cards.
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Curbs On Paytm Payments Bank Services: What Happens To Your Money Now
In a major blow to Paytm Payments Bank Limited, an associate of Paytm, the RBI on Wednesday ordered the lender to stop accepting deposits or top-ups in any customer accounts, wallets, FASTags and other prepaid instruments.
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Paytm Payments Bank Can't Offer Services, Including Wallet, After Feb 29: RBI
The Reserve Bank of India on Wednesday barred Paytm Payments Bank Ltd from accepting deposits or allowing credit transactions, or top-ups, in customer accounts or prepaid instruments - like FASTags - linked to those accounts, after Feb 29.
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Google Pay Said to Begin Collecting Convenience Fee on Mobile Recharge Transactions
Google Pay has begun charging a convenience fee when users purchase a mobile recharge plan, according to user reports online. The company appears to have joined rival payment platforms Paytm and PhonePe that previously introduced a convenience fee when users make prepaid recharge payments. Google Pay has reportedly begun to charge up to Rs. 3 in co...
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RuPay Brings CVV-Less Payments for Tokenised Cards on Supported E-Commerce Merchants
The National Payments Corporation of India (NPCI) on Monday said RuPay has now introduced the CVV (Card Verification Value) free payment experience for its debit, credit and prepaid cardholders who have tokenized their cards on the merchant application or webpage.
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No Charge on Normal UPI Payments, 1.1 Percent Fee to Be Levied on PPI Merchant Transactions: NPCI
National Payments Corporation of India (NPCI) on Wednesday said there is no charge for the bank account to bank account-based UPI payments or normal UPI payments. However, interchange charges are only applicable for the prepaid payment instruments (PPI) merchant transactions and there is no charge to customers, NPCI clarified in a statement.
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As New UPI Rules Are Announced, Users' Queries Trigger Meme Fest
The fee will not be applicable for person-to-person transactions or person-to-merchant transactions between a bank and the prepaid wallet.
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Amazon Pay India Faces Penalty of Over Rs. 3.06 Crore by RBI for Non-Compliance
The Reserve Bank of India on Friday said it has imposed a penalty of over Rs. 3.06 crore on Amazon Pay (India) Private Limited for non-compliance with certain provisions related to Prepaid Payment Instruments (PPIs) and Know Your Customer (KYC) direction. "It was observed that the entity was non-compliant with the directions issued by RBI on KYC re...
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RBI Bars Fintech Companies From Loading Cards Using Credit Lines: 10 Points to Understand the Move
The Reserve Bank of India (RBI) has issued a notice to all non-bank entities offering payment instruments to restrict them from loading instruments including prepaid cards using credit lines. Fintech companies are currently assessing the situation.
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RBI Cautions Public Against Prepaid Payment Instruments Issued by Unauthorised Entities
The RBI said Gurugram-registered sRide Tech Private Limited is operating a pre-paid instrument (wallet) through its car-pooling app sRide without obtaining the required permissions, as it cautioned the public against using applications issued by unauthorised entities.
-
Bharti Airtel, Unit Pay Rs. 5,985 Crore to Clear 'High-Cost' 2024 Spectrum Dues
Bharti Airtel, along with Bharti Hexacom, has prepaid Rs. 5,985 billion to the government, clearing "high-cost" liabilities from the 2024 spectrum auctions. India's second-largest telecom firm has reduced its spectrum-related debt to Rs. 52,000 crore, lowering the cost of debt to 7.22%. Airtel has been actively prepaying dues from past aggressive s...
-
JioBharat V3 and V4 4G Feature Phones With JioPay Integration Launched in India: Price, Features
Reliance Jio launched its latest 4G feature phones dubbed JioBharat V3 and JioBharat V4 at the Indian Mobile Congress (IMC) 2024 in India on Tuesday. The 4G feature phones boast an exclusive suite of Jio services such as JioPay integration which facilitates UPI payments, live TV services, and unlimited voice calling with select recharge plans.
-
Google Pay Announces UPI Circle, UPI Vouchers and More Features at Global Fintech Fest 2024
Google Pay, the Unified Prepaid Interface (UPI) payments app, announced new features at the Global Fintech Fest (GFF) 2024. The company said that these new features, which will be rolled out later this year, will make it easier for users to make payments and transact through the app. Some of the features announced at the GFF include UPI Circle, UPI...
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RBI Issues Alert Against Prepaid Payment Instruments By Illegal Entities
The Reserve Bank of India (RBI) on Thursday cautioned the public against Prepaid Payment Instruments issued by unauthorised entities.
-
FASTag KYC Deadline Could Be Extended Beyond February 29: Report
FASTag KYC Update: FASTag is an electronic toll collection system in India, operated by the NHAI. It employs RFID technology for making toll payments directly from the prepaid or savings account linked to it or directly toll owner.
-
Visa Sued In US Over "Vanilla" Gift Card Scam Known As "Card Draining"
A group of consumers have filed a lawsuit against the Visa card company, claiming that the card payments network did not take adequate measures to prevent the theft of funds from prepaid "Vanilla" gift cards.
-
Curbs On Paytm Payments Bank Services: What Happens To Your Money Now
In a major blow to Paytm Payments Bank Limited, an associate of Paytm, the RBI on Wednesday ordered the lender to stop accepting deposits or top-ups in any customer accounts, wallets, FASTags and other prepaid instruments.
-
Paytm Payments Bank Can't Offer Services, Including Wallet, After Feb 29: RBI
The Reserve Bank of India on Wednesday barred Paytm Payments Bank Ltd from accepting deposits or allowing credit transactions, or top-ups, in customer accounts or prepaid instruments - like FASTags - linked to those accounts, after Feb 29.
-
Google Pay Said to Begin Collecting Convenience Fee on Mobile Recharge Transactions
Google Pay has begun charging a convenience fee when users purchase a mobile recharge plan, according to user reports online. The company appears to have joined rival payment platforms Paytm and PhonePe that previously introduced a convenience fee when users make prepaid recharge payments. Google Pay has reportedly begun to charge up to Rs. 3 in co...
-
RuPay Brings CVV-Less Payments for Tokenised Cards on Supported E-Commerce Merchants
The National Payments Corporation of India (NPCI) on Monday said RuPay has now introduced the CVV (Card Verification Value) free payment experience for its debit, credit and prepaid cardholders who have tokenized their cards on the merchant application or webpage.
-
No Charge on Normal UPI Payments, 1.1 Percent Fee to Be Levied on PPI Merchant Transactions: NPCI
National Payments Corporation of India (NPCI) on Wednesday said there is no charge for the bank account to bank account-based UPI payments or normal UPI payments. However, interchange charges are only applicable for the prepaid payment instruments (PPI) merchant transactions and there is no charge to customers, NPCI clarified in a statement.
-
As New UPI Rules Are Announced, Users' Queries Trigger Meme Fest
The fee will not be applicable for person-to-person transactions or person-to-merchant transactions between a bank and the prepaid wallet.
-
Amazon Pay India Faces Penalty of Over Rs. 3.06 Crore by RBI for Non-Compliance
The Reserve Bank of India on Friday said it has imposed a penalty of over Rs. 3.06 crore on Amazon Pay (India) Private Limited for non-compliance with certain provisions related to Prepaid Payment Instruments (PPIs) and Know Your Customer (KYC) direction. "It was observed that the entity was non-compliant with the directions issued by RBI on KYC re...
-
RBI Bars Fintech Companies From Loading Cards Using Credit Lines: 10 Points to Understand the Move
The Reserve Bank of India (RBI) has issued a notice to all non-bank entities offering payment instruments to restrict them from loading instruments including prepaid cards using credit lines. Fintech companies are currently assessing the situation.
-
RBI Cautions Public Against Prepaid Payment Instruments Issued by Unauthorised Entities
The RBI said Gurugram-registered sRide Tech Private Limited is operating a pre-paid instrument (wallet) through its car-pooling app sRide without obtaining the required permissions, as it cautioned the public against using applications issued by unauthorised entities.
