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Opinion | Why India Is Pushing FATF To Ease Its Rules For UPI Payments
Card networks, mostly headquartered in the West, benefit from historical precedence. Instant payment systems, by contrast, are homegrown innovations in emerging markets, cheaper, faster, and vital for financial inclusion.
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India Delays UPI Payments Market Share Cap in Relief for PhonePe, Google Pay
India has pushed back the implementation of market share caps for UPI apps like Google Pay and PhonePe. According to the proposal, first made in November 2020, digital payment firms would not be allowed to hold more than 30 percent share of the volume of transactions processed via India's popular unified payments interface (UPI).
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Government to Delay Digital Payments Market Share Cap, Helping Walmart-Backed PhonePe, Google Pay
India will again delay caps on market share for a popular digital payments method, two sources told Reuters, benefiting Google Pay and Walmart-backed PhonePe as the authorities prioritise growth over concerns about market concentration.
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India To Delay UPI Payments Market Cap, Will Help PhonePe, Google Pay: Report
India will again delay caps on market share for a popular digital payments method, two sources told Reuters, benefiting Google Pay and Walmart-backed PhonePe as the authorities prioritise growth over concerns about market concentration.
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Google Pay, NPCI Sign MoU to Expand UPI Globally, Aim to Ease Digital Payments Abroad
Google Pay and National Payments Corporation of India (NPCI) will work together to expand Unified Payments Interface (UPI), the instant payments system widely used in the country, to international markets, Google and NPCI confirmed Wednesday. A Memorandum of Understanding (MoU) has been signed between Google Pay India and NPCI subsidiary, NPCI Inte...
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France Has Agreed to Use UPI for Payments in Rupees, Says PM Modi
Prime Minister Narendra Modi on Thursday said that India and France have agreed to use Unified Payments Interface (UPI) in this European nation, opening a huge new market for Indian innovation. Addressing the Indian community at the La Seine Musicale, a performing arts centre on an island in river Seine, Modi said very soon Indian tourists will be ...
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Google to Allow UK Developers to Offer Google Play Billing Alternatives to Satisfy Regulator's Concerns
Google has made proposals to give app developers in the UK the freedom to break away from Google Play's billing system as the search giant looks to satisfy regulator concerns over in-app billing systems. The company will either let app developers offer a different payment system or give users a choice between an alternative payment system and Googl...
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Bill Gates Praises India's Digital Payment System; Says This Will Be Cheapest 5G Market
India's sprawling digital public infrastructure received a glowing endorsement from billionaire philanthropist Bill Gates on Wednesday as he praised the country's "great" digital network, reliable and low-cost connectivity, and said this will be the cheapest 5G market. India can be "such an example" for other countries, he said.
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NPCI Said to Be in Talks With RBI on Implementing 30 Percent UPI Volume Cap Deadline
NPCI is said to be in talks with the RBI to implement its proposed December 31 dealine to limit payment app providers' volume cap to 30 percent. The corporation in 2020 came up with a directive to cap the share of transactions a third-party application provider (TPAP) could process at 30 per cent of the volume of transactions handled on UPI, but ga...
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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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UPI to Provide Hassle-Free QR Code-Based Transactions to Indians in UK
UPI will foray into the UK market starting with QR code-based transactions. For this, the NPCI International Payments Limited (NIPL) has forged a partnership with payments solutions provider PayXpert to internationalise the acceptance of its payment solutions in the UK. NPCI said over 5 lakh Indians, including over 1 lakh students, travel to the UK...
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PhonePe Continues to Take on the Competition in UPI App Ecosystem With Over 46 Percent Share: NPCI
PhonePe has broadened the gap for platforms including Google Pay and Amazon Pay by expanding its market share to 46.04 percent in June, the data released by the National Payments Corporation of India (NPCI) has shown. WhatsApp Pay, on the other hand, has continued its marginal share of 0.02 percent.
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WhatsApp UPI Transaction Volume Declined in January, PhonePe Continues to Lead the Market: NPCI Data
WhatsApp received negative growth in terms of Unified Payments Interface (UPI) transactions in January, according to the data released by National Payments Corporation of India (NPCI). PhonePe, however, continued to lead the market among UPI apps with over 41 percent share.
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WhatsApp Pay Gets Green Signal in India in a Graded Manner, With 20 Million User Cap
The National Payments Corporation of India (NPCI) announced today that WhatsApp can go ahead with the rollout of WhatsApp Pay in India. The company will be allowed to rollout in a “graded manner” the NPCI said, and it will first be allowed to do so with a maximum of 20 million registered users in UPI.
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WhatsApp Antitrust Complaint Dismissed by Competition Commission of India
Competition Commission of India (CCI) has dismissed a case against Facebook's WhatsApp, saying the company has not abused its dominant position to expand in the country's digital payments market, according to an official order.
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Opinion | Why India Is Pushing FATF To Ease Its Rules For UPI Payments
Card networks, mostly headquartered in the West, benefit from historical precedence. Instant payment systems, by contrast, are homegrown innovations in emerging markets, cheaper, faster, and vital for financial inclusion.
-
India Delays UPI Payments Market Share Cap in Relief for PhonePe, Google Pay
India has pushed back the implementation of market share caps for UPI apps like Google Pay and PhonePe. According to the proposal, first made in November 2020, digital payment firms would not be allowed to hold more than 30 percent share of the volume of transactions processed via India's popular unified payments interface (UPI).
-
Government to Delay Digital Payments Market Share Cap, Helping Walmart-Backed PhonePe, Google Pay
India will again delay caps on market share for a popular digital payments method, two sources told Reuters, benefiting Google Pay and Walmart-backed PhonePe as the authorities prioritise growth over concerns about market concentration.
-
India To Delay UPI Payments Market Cap, Will Help PhonePe, Google Pay: Report
India will again delay caps on market share for a popular digital payments method, two sources told Reuters, benefiting Google Pay and Walmart-backed PhonePe as the authorities prioritise growth over concerns about market concentration.
-
Google Pay, NPCI Sign MoU to Expand UPI Globally, Aim to Ease Digital Payments Abroad
Google Pay and National Payments Corporation of India (NPCI) will work together to expand Unified Payments Interface (UPI), the instant payments system widely used in the country, to international markets, Google and NPCI confirmed Wednesday. A Memorandum of Understanding (MoU) has been signed between Google Pay India and NPCI subsidiary, NPCI Inte...
-
France Has Agreed to Use UPI for Payments in Rupees, Says PM Modi
Prime Minister Narendra Modi on Thursday said that India and France have agreed to use Unified Payments Interface (UPI) in this European nation, opening a huge new market for Indian innovation. Addressing the Indian community at the La Seine Musicale, a performing arts centre on an island in river Seine, Modi said very soon Indian tourists will be ...
-
Google to Allow UK Developers to Offer Google Play Billing Alternatives to Satisfy Regulator's Concerns
Google has made proposals to give app developers in the UK the freedom to break away from Google Play's billing system as the search giant looks to satisfy regulator concerns over in-app billing systems. The company will either let app developers offer a different payment system or give users a choice between an alternative payment system and Googl...
-
Bill Gates Praises India's Digital Payment System; Says This Will Be Cheapest 5G Market
India's sprawling digital public infrastructure received a glowing endorsement from billionaire philanthropist Bill Gates on Wednesday as he praised the country's "great" digital network, reliable and low-cost connectivity, and said this will be the cheapest 5G market. India can be "such an example" for other countries, he said.
-
NPCI Said to Be in Talks With RBI on Implementing 30 Percent UPI Volume Cap Deadline
NPCI is said to be in talks with the RBI to implement its proposed December 31 dealine to limit payment app providers' volume cap to 30 percent. The corporation in 2020 came up with a directive to cap the share of transactions a third-party application provider (TPAP) could process at 30 per cent of the volume of transactions handled on UPI, but ga...
-
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...
-
UPI to Provide Hassle-Free QR Code-Based Transactions to Indians in UK
UPI will foray into the UK market starting with QR code-based transactions. For this, the NPCI International Payments Limited (NIPL) has forged a partnership with payments solutions provider PayXpert to internationalise the acceptance of its payment solutions in the UK. NPCI said over 5 lakh Indians, including over 1 lakh students, travel to the UK...
-
PhonePe Continues to Take on the Competition in UPI App Ecosystem With Over 46 Percent Share: NPCI
PhonePe has broadened the gap for platforms including Google Pay and Amazon Pay by expanding its market share to 46.04 percent in June, the data released by the National Payments Corporation of India (NPCI) has shown. WhatsApp Pay, on the other hand, has continued its marginal share of 0.02 percent.
-
WhatsApp UPI Transaction Volume Declined in January, PhonePe Continues to Lead the Market: NPCI Data
WhatsApp received negative growth in terms of Unified Payments Interface (UPI) transactions in January, according to the data released by National Payments Corporation of India (NPCI). PhonePe, however, continued to lead the market among UPI apps with over 41 percent share.
-
WhatsApp Pay Gets Green Signal in India in a Graded Manner, With 20 Million User Cap
The National Payments Corporation of India (NPCI) announced today that WhatsApp can go ahead with the rollout of WhatsApp Pay in India. The company will be allowed to rollout in a “graded manner” the NPCI said, and it will first be allowed to do so with a maximum of 20 million registered users in UPI.
-
WhatsApp Antitrust Complaint Dismissed by Competition Commission of India
Competition Commission of India (CCI) has dismissed a case against Facebook's WhatsApp, saying the company has not abused its dominant position to expand in the country's digital payments market, according to an official order.
