Indian Payment

UPI

India’s UPI payment system, launched in 2016, allows users to transfer money directly from one bank account to another in real time, and today is used by around 260 million people within the country of 1.4 billion.

The Unified Payments Interface (UPI) is considered a “digital public infrastructure” designed by the National Payments Corporation of India (NPC), which integrates more than 300 banks and is available through more than 60 apps, such as Google Pay, and Paytm, a popular payment app in India.

  1. Mobikwik, India’s mobile payment app for recharging DTH, Bus, Train IRCTC, Prepaid, Postpaid, Electricity, Gas bills, Insurance, Broadband, Fixed line.
  2. Airtel Money, based on India’s UPI (Unified Payments Interface) system. A mobile payment wallet developed by Airtel, an Indian telecom company.
  3. PhonePe, which provides an online payment system based on Unified Payments Interface (UPI), is a new process for electronic fund transfers initiated by the National Payments Corporation of India (NPCI).
  4. Paytm

Paytm soars 10%, hits upper circuit after govt approves FDI proposal for payment aggregator biz

India, Indian Payment / , ,

Paytm FDI Proposal Approved: Shares of fintech major Paytm surged up to 10% intraday on Friday following government approval of its foreign direct investment (FDI) proposal for the payment aggregator business. The financial services secretary announced that Paytm can now approach the Reserve Bank to seek the payment aggregator license, which will undergo further evaluation.

Paytm soars 10%, hits upper circuit after govt approves FDI proposal for payment aggregator biz Read More »

India, Indian Payment
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