In order to create a real-time payments platform similar to the Unified Payments Interface (UPI), the Namibian central bank and the National Payments Corporation of India (NPCI) have inked a licensing deal. According to Dammu Ravi, secretary in the external affairs ministry, during a press briefing on the outcomes of
Transactions using the Unified Payments Interface (UPI) fell slightly to 18.40 billion in June from an all-time high of 18.68 billion the month before. Compared to the previous year, the number of transactions increased by 32%. Compared to the 17.89 billion transactions that were reported in April,
Due to a network capacity shortage brought on by cybersecurity exercises held in the wake of the India-Pakistan conflict, fintech giant PhonePe had an outage on 12 May when it came to processing Unified Payments Interface (UPI) transactions. For more than an hour on the same day, users and industry
To combat growing online fraud, the National Payments Corporation of India (NPCI) plans to gradually phase out collect phone transactions for merchant payments on the Unified Payments Interface (UPI). By lowering the possibility of illegal fund withdrawals, this ruling attempts to minimise fraudulent transactions in which retailers ask for payments
According to Governor Shaktikanta Das, the Reserve Bank of India (RBI) anticipates that the number of daily Unified Payments Interface (UPI) transactions will surpass one billion in the coming months from the current 500 million transactions per day. Das stated during a panel discussion at the Group of Thirty'