Digital Payments

The current launch supports all international merchant outlets in UAE, Singapore, Nepal and Bhutan that have a local QR code

The conclusions of the analysis noted that digital financial inclusion is now a reality for the country

In case you are doing cross-border business and accepting international payments, you must be aware of these rules

The objective of the beta test is to allow consumers to experience the network for the first time and gather feedback which will help further refine the network before a pan-India roll-out

The report also added that there was over 32 per cent YoY progress in festival order volumes for tier III cities and over 20 per cent progress in tier II volumes

The report also stated that while demonetization urged businesses to explore alternatives to physical modes of payment, the pandemic normalized it as business as usual and helped gain wider acceptance

Deputy governor of RBI said that RBI mainly focuses to scale the digital infrastructure while preserving the technical stability

The reports said that government is likely to treat the unified payments interface (UPI) as public good in which customers do not required paying

The ministry also said that the concerns of the service providers for cost recovery have to be met through other means

Even though the methods for collecting debt have improved over time, many businesses still avoid investing in credit technology due to the unpredictability of lenders' relationships with borrowers

PM Modi said this accomplishment indicates the collective resolve of the people of India to embrace new technologies and make the economy cleaner

The minister of state also said that crypto as a means of payment is the logical extension of fintech

RBI, in its statement, described OPEN's product as a blockchain-based cross-border system, leveraging the current infrastructure and ensuring frictionless and tamperproof monitoring capabilities

PhonePe was valued at $5.5 billion with its latest fundraise of $700 million and the e-commerce firm, Flipkart, continues to remain its biggest shareholder

The ONDC advisory council meeting chaired by the commerce minister on Thursday discussed about the overall developments and future plans of open network in the e-commerce sector

This includes the account opening journey, loan and cards, covering both individual or MSME customers and existing and new-to-bank customers

The company also claimed that it has plans to raise $140 million in this round and will have secondary component

Looking to innovate and add more customers across geographies

It aims to eliminate the gap in accessibility of digital payments to consumers using feature phones and smartphone struggling with limited/no Internet connectivity

Presenting the Union Budget 2022, Finance Minister Nirmala Sitharaman, made a slew of announcements for the startups in the country

Rohith Reji and Tarun Nazare, Co-founders, NeoKred Neokred was founded in late 2019 and was still in its early stages at the time when Rohith Reji and Tarun Nazare started working on a product with a few other employees. But, in terms of product development, scale hiring and sales, Neokred began hiring in the midst […]