UPI’s acceptance as a preferred payment mode by consumers across cities in India and the hinterlands is now an established fact. Other payment modes like Debit Card transactions are seeing a steep decline in India, in fact as much as 34 per cent YoY as reported in H2 2023
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The RBI statement said that the platform may be extended to more countries, going forward. The platform is expected to go live by 2026. Once functional, Nexus will play a key role in making retail cross-border payments efficient, faster, and more cost-effective
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Dismissing misleading media reports claiming that Paytm's leadership has decided to abandon licensed business in favor of a distribution model, the company refuted stating that no such decision or communication has been made regarding a change in its operating strategy
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POP joins prominent players like Google Pay, PhonePe, WhatsApp, CRED, and Paytm as a third-party app authorised to provide UPI payments
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Recognised as the fastest-growing digital payments channel in India, UPI continues to expand its reach into rural areas and integrate with government welfare schemes
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Adani Group is considering providing online shopping services through the Open Network for Digital Commerce (ONDC), as per media reports
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