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UPI or Unified Payments Interface is an instant real-time payment system created by the National Payments Corporation of India, which likewise implies that the Reserve Bank of India controls it. It helps to instantly transfer funds between two bank accounts with the help of a mobile app. The most common
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The National Payments Corporation of India was formed in 2008 with the objective of integrating all payment mechanisms existing in the country and making them uniform for retail payments. However, the majority of the population was opting for cash payments as retailers encouraged this method. There was also the problem
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At present, the world has experienced huge growth in online payments, and with the Covid-19 presence, people preferred to use online payment methods for almost everything as it is safe and secure. More and more people are opting for a cashless way to transfer money. Here, comes the work of
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As the digital revolution took over the regular life of people by storm, there are not many areas that remain uninterrupted by it. With the huge impetus given to Digital India by the Government of India, the domain of finance and accounting has also undergone tremendous changes. Beginning with online
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The unified payments interface is the buzzword for the pandemic year. Ever since the pandemic hit, people became scared of touching any surface in the world. This was the time when the UPI came to the rescue. UPI or the unified payments interface is a method or gateway that is
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There is a high chance that you don’t remember the last time you used ‘cash’ for a transaction at a Kirana store. The world is changing and it is becoming cashless, not a new thing but more like the new normal. The shift from cash to cashless is so
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The term “FinTech” is the combination of finance and technology and is referred to the provision of new solutions in the field of finance by IT venture companies. New business models are being created one after another, particularly in the area of B to C services using the Internet. The
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The PayU Insights report had stated that during 2020 because of the coronavirus pandemic and the mass restrictions laid down by the countries, the digital platforms and the digital apps had seen a huge surge in their user base which is over more than 100%. Let’s look at how
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Due to the lockdown imposed to contain the spread of COVID-19 [https://startuptalky.com/tag/covid-19/], UPI has recorded transactions of less than one billion for the month of April after 12 months of constant growth. This is the first time in the past seven months that UPI volume went
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The National Payments Corporation of India (NPCI) is an umbrella organization for operating retail payments and settlements systems in India. It is an initiative by the Reserve Bank of India (RBI) and the Indian Bank Association (IBA) under the provisions of the Payment and Settlement Act, 2007, for creating a
digital payment
Coronavirus is here, and it’s making a big impact on every aspect of business. From trade market swings to airline collapses, the economy of many industries is taking its toll and having major constraints. Whole worldwide especially in Europe, those living in Italy, Spain, Germany and France have been