Mumbai: Reserve Bank of India Governor (RBI) Shaktikanta Das on Wednesday said it decided to add a new feature in its Unified Payments Interface (UPI) platform where the delivery of service or goods happens later such as e-commerce purchases, hotel bookings or investments in equities. Through the ‘single-block-and-multiple debits’ feature...
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Mumbai: Reserve Bank of India Governor (RBI) Shaktikanta Das on Wednesday said it decided to add a new feature in its Unified Payments Interface (UPI) platform where the delivery of service or goods happens later such as e-commerce purchases, hotel bookings or investments in equities. Through the ‘single-block-and-multiple debits’ feature...
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By introducing single-block-and-multiple-debits functionality, Shaktikanta Das said this facility will enable a customer to block funds in his/her account for specific purposes, which can be debited whenever needed.
Bengaluru (Karnataka) [India], December 6 (ANI/NewsVoir): In an industry-first move, aimed at further strengthening digital payments and boosting India's credit penetration, Razorpay, India's Leading Full-Stack Payments and Banking Platform for Businesses today announced the platform's readiness to support Credit Card Transactions on Unified Payments Interface (UPI). With this launch, Razorpay becomes India's First PG to support Credit Cards on UPI. Today, customers of HDFC Bank, Punjab National Bank, Union Bank and Indian Bank will be the first to enjoy the benefits of this innovation.
Paytm Payments Bank being an issuer and payment service provider bank in itself along with being an acquirer of UPI transactions on its own platform, makes it the source and destination for all of its transactions. So, it effectively serves the customer end-to-end in a transaction.
In order to promote the Digital India initiative, All India Institute of Medical Sciences (AIIMS), New Delhi is initiating all-digital payments starting April 2023, at all counters, said AIIMS in a statement.
During his visit to Delhi, French Minister for Digital Transition and Telecommunications applauded India's technology and India's UPI payment method. France and India are great scientific nations that have collaborated for ages in the Space domain, Mathematics and in Technology more generally.
In the last eight years, the Union Home Minister said, India has become the fifth-largest economy from the 11th position that it held earlier, leaving Britain behind.
For the first time in 20 years, currency in circulation declined during Diwali week. The innovations in technology have changed the Indian payment system, SBI Research said in its report Ecowrap. The report mentioned that this was due to the growth in digital transactions. The report said, “In a remarkable...
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