Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<keyword id="19898109" type="General" weightage="100" keywordseo="Paytm" source="keywords" meta.keywordsubtype="org" meta.entityname="Paytm" meta.hostid="261" meta.entityid="Paytm">Paytm</keyword> has regained approval from the National Payments Corporation of India (<keyword id="19998946" type="General" weightage="20" keywordseo="NPCI" source="keywords">NPCI</keyword>) to onboard new UPI users, marking a significant turnaround for the fintech giant. This development follows a setback earlier this year when <keyword id="20410154" type="General" weightage="20" keywordseo="Paytm-Payments-Bank-Limited" source="keywords" meta.keywordsubtype="org" meta.entityname="Paytm Payments Bank Limited" meta.hostid="261" meta.entityid="Paytm Payments Bank Limited">Paytm Payments Bank Limited</keyword> (PPBL), an associate company of Paytm, was barred from adding new users to its UPI platform due to regulatory concerns raised by the <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (RBI). <h2>Paytm gets permission to onboard new UPI users </h2> In a regulatory filing on Tuesday evening, Paytm disclosed that NPCI granted permission for the company to resume onboarding UPI users, provided it complies with all procedural guidelines and circulars issued by the corporation. “We would like to inform you that vide letter dated October 22, 2024, the National Payments Corporation of India (NPCI) has granted approval to the Company to on-board new UPI users, with adherence to all NPCI procedural guidelines and circulars,” Paytm said in the filing. This move is seen as a relief for the company, which has been under scrutiny following the RBI’s intervention in January. The NPCI, which had previously allowed Paytm to operate as a Third-Party Application Provider (TPAP) for UPI transactions, has now reinstated its ability to bring new users onto the platform, albeit with strict conditions. Paytm can continue UPI operations through its partnerships with major banking institutions, including SBI, HDFC Bank, Axis Bank, and YES Bank. The NPCI’s approval comes after a thorough review of Paytm’s compliance with procedural guidelines, including those pertaining to risk management, app branding, multi-bank participation, and data privacy. The fintech firm has been instructed to adhere to key regulatory frameworks, such as the Payments and Settlement Act of 2007 and the Digital Personal Data Protection Act of 2023. This approval follows a request by Paytm’s parent company, <keyword id="20253123" type="General" weightage="20" keywordseo="One97-Communications" source="keywords">One97 Communications</keyword> Ltd (OCL), in August, seeking permission to resume UPI onboarding. The NPCI’s decision also reflects that Paytm has addressed concerns raised in the RBI’s directive from earlier this year, which had highlighted persistent non-compliance issues with its banking subsidiary, PPBL. On a related note, Paytm reported a strong financial performance for the quarter ending September 2024. The company posted a net profit of ₹928.3 crore, a marked improvement from the ₹290.5 crore loss it recorded during the same period last year. <h2>What had happened? </h2> For the unversed, in January 2024, the Reserve Bank of India (RBI) told Paytm Payments Bank Limited (PPBL) to stop accepting deposits and processing UPI top-ups. This decision stemmed from ongoing concerns about the bank’s compliance and serious issues that needed addressing. As a result, Paytm found itself unable to onboard new UPI users, significantly disrupting its growing customer base and raising doubts about its future in the crowded <keyword id="19989657" type="General" weightage="20" keywordseo="digital-payments" source="keywords">digital payments</keyword> market. However, things took a turn for the better in March 2024 when the National Payments Corporation of India (NPCI) gave Paytm the green light to resume UPI transactions. The catch? Paytm could only operate as a Third-Party Application Provider (TPAP), meaning it had to partner with established banks like SBI, Axis Bank, HDFC Bank, and YES Bank for its UPI services. While this arrangement posed some limitations, it allowed Paytm to keep moving forward and adapt to the regulatory challenges it faced in India’s digital payment landscape. (with PTI inputs)

Paytm can onboard new UPI users again, receives NPCI nod months after RBI restrictions

The Reserve Bank on Thursday proposed to create a <keyword id="22711172" type="General" weightage="20" keywordseo="public-repository" source="keywords">public repository</keyword> of <keyword id="21305551" type="General" weightage="100" keywordseo="digital-lending-apps" source="keywords">digital lending apps</keyword> in a bid to address the problems arising from mushrooming <keyword id="22711171" type="General" weightage="20" keywordseo="unauthorised-players" source="keywords">unauthorised players</keyword> in the segment. In another significant move, the central bank proposed to introduce a facility of "<keyword id="22710839" type="General" weightage="20" keywordseo="Delegated-Payments" source="keywords">Delegated Payments</keyword>" in UPI to enable an individual to allow another individual to make <keyword id="19957378" type="General" weightage="20" keywordseo="UPI-transactions" source="keywords">UPI transactions</keyword>. In a <keyword id="13144094" type="General" weightage="20" keywordseo="post-monetary-policy-review" source="Orion">post-monetary policy review</keyword> address, <keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword> <keyword id="20595794" type="General" weightage="20" keywordseo="Governor-Shaktikanta-Das" source="keywords">Governor Shaktikanta Das</keyword> said the central bank has taken several measures for the orderly development of the <keyword id="12577431" type="General" weightage="20" keywordseo="digital-lending-ecosystem" source="Orion">digital lending ecosystem</keyword> in India. In a bid to address the problems arising from unauthorised digital lending apps (DLAs), he said the RBI proposes to create a public repository of DLAs deployed by its regulated entities. "The regulated entities (REs) will report and update information about their DLAs in this repository. This measure will help the consumers to identify the unauthorised lending apps," Das said. On introduction of 'Delegated Payments' through UPI, the Governor said the facility would enable an individual (primary user) to allow another individual (secondary user) to make UPI transactions up to a limit from the primary user's bank account without the need for the secondary user to have a separate bank account linked to UPI. This, he added, will further deepen the reach and usage of digital payments. The central bank also announced an increase in the transaction limit for tax payments through UPI to Rs 5 lakh. Currently, the transaction limit for UPI is Rs 1 lakh, except for certain categories of payments which have higher transaction limits. "It has now been decided to enhance the limit for tax payments through UPI from Rs 1 lakh to Rs 5 lakh per transaction. This will further ease tax payments by consumers through UPI," Das said. The Governor also announced measures to speed up cheque payment which will benefit both the payer and the payee. At present, cheque clearing through Cheque Truncation System (CTS), operates in a batch-processing mode and has a clearing cycle of up to two working days. "It is proposed to reduce the clearing cycle by introducing continuous clearing with 'on-realisation-settlement' in CTS," Das said. This means that cheques will be cleared within a few hours on the day of presentation.

RBI to set up public repository of digital lending apps to check unauthorised players

Nalin Bansal, Chief Relationship Management at the National <keyword id="20242630" type="General" weightage="20" keywordseo="payments" source="keywords">Payments</keyword> Corporation of India (<keyword id="19998946" type="General" weightage="20" keywordseo="NPCI" source="keywords">NPCI</keyword>), speaking at the Global Fintech Festival 2024 on Wednesday, emphasized that only 25 per cent of payment users are <keyword id="19900675" type="General" weightage="20" keywordseo="women" source="keywords">women</keyword>, with even lower penetration in semi-urban and rural areas. "While we've achieved significant scale in <keyword id="20377974" type="General" weightage="20" keywordseo="financial-inclusion" source="keywords">financial inclusion</keyword>, penetration remains a challenge, with only 25% of payment users being women, and even fewer in semi-urban and rural areas. Many women's mobile numbers are not linked to their bank accounts, hindering their participation," Bansal said. He added, "Yet, data shows women are 50% less prone to fraud and are highly loyal and engaged users. As an ecosystem, we must prioritize personalized, assisted services and continuous engagement across all channels. UPI123 has made strides, especially for initiatives like Ujjwala, and prepaid instruments hold promise as a 'secret purse' for women. Building trust is crucial, and it is our collective responsibility to foster it." Women are more likely to adopt <keyword id="20853683" type="General" weightage="100" keywordseo="digital-financial-services" source="keywords">digital financial services</keyword> when introduced by local agents or <keyword id="22950816" type="General" weightage="20" keywordseo="community-influencers" source="keywords">community influencers</keyword>, particularly women who can help them overcome social and technological barriers. Women who make at least five <keyword id="19971375" type="General" weightage="20" keywordseo="transactions" source="keywords">transactions</keyword> in the first week of onboarding are twice as likely to continue using <keyword id="19900911" type="General" weightage="20" keywordseo="UPI" source="keywords">UPI</keyword>. This highlights the need for financial service providers to rethink in-app nudges and sales metrics to encourage consistent usage. 93 per cent of women surveyed expressed the need for ongoing support during the first three months of using digital payments, particularly for grievance redressal during failed transactions. Kalpana Ajayan, Regional Head - South Asia, Women's World Banking, said, "We recognize that digital payments can serve as a powerful tool for women, enabling them to manage their finances more effectively, access a broader range of services, and ultimately secure a better future for themselves and their families." She added, "By addressing the specific barriers that women face in adopting digital payments, we open up a new frontier for growth. This initiative is about much more than inclusion--it's about positioning women as key drivers in the digital financial ecosystem." The NPCI's UPI platform has already revolutionized India's payment landscape, with UPI transactions soaring from Rs 920 million (USD 11.08 million) in FY 2017-18 to Rs 83750 million (USD 1.01 billion) in FY 2022-23, reflecting a staggering CAGR of 147 per cent. The value of UPI transactions reached INR 80.79 trillion (USD 96,287) across approximately 55.66 billion transactions in the first four months of FY 2024-25. Of the 536 million women aged 15 years and older in India, 37 per cent report using mobile internet, making the addressable market for UPI solutions among women around 200 million strong.

Women are more likely to adopt digital financial services when introduced by local agents or women community influencers

Think of this. You have ordered food online and have marked it as cash on delivery. The delivery person arrives and the bill amount is Rs 488. You hand over Rs 500 to the delivery person and there’s that commonly heard phrase, “change nahi hai kya.” Most of us have been in situations like these and now that <keyword id="20030235" type="General" weightage="20" keywordseo="UPI-payments" source="keywords">UPI payments</keyword> are more common than ever, hardly anyone seems to be carrying change. Food delivery giant <keyword id="19901323" type="General" weightage="100" keywordseo="Zomato" source="keywords" meta.keywordsubtype="org" meta.entityname="Zomato" meta.hostid="261" meta.entityid="Zomato">Zomato</keyword> seems to have found a solution to this problem. The company’s CEO <keyword id="19901325" type="General" weightage="20" keywordseo="Deepinder-Goyal" source="keywords">Deepinder Goyal</keyword> announced in a post on X that delivery partners can now add COD orders’ balance amount to a customer’s <keyword id="22710108" type="General" weightage="20" keywordseo="Zomato-Money-account" source="keywords">Zomato Money account</keyword> instantly. That way, nobody has to worry about carrying change. <h2>Zomato CEO has answer to your change problems</h2>In his post on X, Goyal wrote, “For cash on delivery orders, finding exact change can sometimes be inconvenient. Starting today, our customers can pay delivery partners in cash, and ask for the balance amount to be added instantly to their <keyword id="22700688" type="General" weightage="20" keywordseo="zomato-money" source="keywords">Zomato Money</keyword> account. This balance can be used towards future delivery orders or dining out.” Goyal also acknowledged that this idea was inspired by Tata group-owned <keyword id="20041313" type="General" weightage="20" keywordseo="Big-Basket" source="keywords" meta.keywordsubtype="org" meta.entityname="Big Basket" meta.hostid="261" meta.entityid="Big Basket">Big Basket</keyword>. “Thank you @bigbasket_com for the inspiration for this solution, and our delivery partners (three of them are working as product managers with us) for insisting that we develop this asap,” he wrote. <h2>Zomato earns crores from platform fee</h2>Zomato was also making headlines earlier this week for raking in a lot of moolah by charging platform fees. The company started charging platform fees in August last year and this has proved to be a successful business move. During its annual report, Zomato revealed that it has collected Rs 83 crore till March from levying platform fee. For the unversed, platform fee is a small additional charge that the company adds to your order. Think of it as a convenience fee for using the app's services, including delivery, customer support, and the seamless experience of browsing through hundreds of restaurant options. Initially, the company used to levy Rs 2 per order as platform fee. But that amount has grown in the last year and today Zomato charges Rs 6 as platform fee in key areas. It can be located when you load the bill details of your order.

Zomato announces new feature for cash on delivery orders and it can help solve a huge problem

Mumbai, <keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword> on Friday said NPCI has been asked to examine the possibility of it becoming a third party application provider for continued <keyword id="19900911" type="General" weightage="20" keywordseo="upi" source="keywords">UPI</keyword> operations of the Paytm app. The central bank has barred <keyword id="19907220" type="General" weightage="20" keywordseo="paytm-payments-bank" source="keywords">Paytm Payments Bank</keyword> from accepting further credits into its customer accounts and wallets after March 15, 2024. With an aim to ensure seamless digital payments by UPI customers using '@paytm' handle operated by the Paytm Payments Bank, <keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword> said it has asked the <keyword id="19907219" type="General" weightage="20" keywordseo="national-payments-corporation-of-india" source="keywords">National Payments Corporation of India</keyword> (NPCI) to examine the request to become a Third-Party Application Provider (TPAP) for UPI channel for continued UPI operation of the Paytm app. The request has been made by One97 Communication Ltd (OCL), which owns the Paytm brand, RBI said in a statement. For seamless migration of '@paytm' handle to other banks, the Reserve Bank of India (RBI) said NPCI may facilitate certification of 4-5 banks as Payment Service Provider (PSP) Banks with demonstrated capabilities to process high volume UPI transactions.

Reserve Bank asks NPCI to help continue operations of Paytm app

The internet has revolutionised our lives, offering convenience and connectivity at our fingertips. With the rapid adoption of digital payments in India, fraudsters have evolved their tactics, devising new scams to exploit the growing user base. Several <keyword id="20182215" type="General" weightage="20" keywordseo="online-scams" source="keywords">online scams</keyword> have been reported in India over the past few months, from the standard UPI refund scams to unbelievable scams such as the digital arrest scams. Here's a look at some prevalent online scams and how to protect yourself: <h2><keyword id="23629952" type="General" weightage="20" keywordseo="UPI-refund-scam" source="keywords">UPI refund scam</keyword></h2>UPI refund scam is one of the most common online scams these days. It involves a person sending the victim money and then claiming that it was accidentally sent. The scammer then asks the victim to refund the money, often using excuses such as emergency hospitalisations or other important expenses. If the victim refunds the money, the scammer then contacts their bank and reverses the initial transaction, resulting in the victim losing money. How to protect yourself from UPI refund scams: <ul><li>Do not resend the money if someone claims they have “accidentally” sent you money.</li><li>If you receive money from an unknown source, contact your bank immediately.</li><li>If someone says they have sent you money, ask them to contact their bank to get a refund.</li></ul><h2><keyword id="19939895" type="General" weightage="20" keywordseo="phishing-scams" source="keywords">Phishing scams</keyword></h2>Phishing scams have been around for a long time, but they have become more sophisticated in the digital age. Fraudsters often impersonate reputable companies, sending fake emails, messages, or even websites that look almost identical to the real ones. These messages typically contain a sense of urgency—such as a warning that your account is about to be blocked or that you've won a prize. Once you click on the link, you’re directed to a fake site that prompts you to enter your personal information, including login credentials and payment details. This data is then used to steal money or compromise your identity. How to protect yourself from phishing scams: <ul><li>Be sceptical of unexpected messages or emails, even if they seem to come from trusted sources.</li><li>Check the URLs of websites carefully. Scammers often use misspelt URLs that are designed to look legitimate.</li><li>Never share your personal or financial information without verifying the authenticity of the request.</li></ul><h2><keyword id="23629953" type="General" weightage="20" keywordseo="SIM-swap-scam" source="keywords">SIM Swap scam</keyword></h2>As the name suggests, a SIM swap scam basically involves the scammer getting access to your SIM, either with the help of someone at the mobile service provider or through other means. The scammer often convinces the network provider to activate a SIM card they possess, gaining control of the victim’s phone number. This allows the scammer to gain access to all calls and text messages that the victim may receive, which is important in this day and age where all accounts are linked to your phone number. Once the scammer gets access to the victim’s phone number, they use it to gain access to their bank account and steal money. How to protect yourself from SIM swap scam: <ul><li>If your SIM stops working, immediately inform the telecom operator.</li><li>Make use of a SIM lock, which prevents your SIM from being used on another smartphone without entering a password.</li><li>Avoid sharing personal information online, especially things which can make it easier to crack your passwords.</li><li>Keep track of your accounts and report any unauthorised transactions.</li></ul><h2><keyword id="20415709" type="General" weightage="20" keywordseo="online-shopping-scams" source="keywords">Online Shopping Scams</keyword></h2>Beware of fake online stores offering unbelievable deals. These websites might steal your payment information or deliver counterfeit or non-existent products. These websites often advertise unbelievable deals to lure in unsuspecting customers, either with the intention of stealing their data or selling substandard products. How to stay safe: <ul><li>Shop from reputable websites. Look for customer reviews and secure payment gateways.</li><li>Be cautious of prices that seem too good to be true.</li><li>Use a credit card for online purchases. It offers better fraud protection than a debit card.</li></ul><h2>The "Digital Arrest" scam</h2>In this chilling scam, fraudsters impersonate law enforcement officials. They may claim you're involved in illegal activities and threaten you with a "digital arrest" or legal action. To avoid this, they'll demand payment or personal information. Victims are often coerced into making payments via UPI or other digital means. The sense of urgency and fear of legal consequences often compels people to act without verifying the legitimacy of the claim. How to avoid: <ul><li>Know your rights: Law enforcement agencies will never demand payment or personal information over the phone or online. </li><li>Verify identities: If you receive such a call, hang up and directly contact the relevant authorities to verify the claim.</li></ul><h2><keyword id="23629954" type="General" weightage="20" keywordseo="KYC-scam" source="keywords">KYC scam</keyword></h2>With the increased demand for KYC (know your customer) updates across digital platforms, fraudsters are taking advantage by posing as bank or telecom representatives. They often claim that your account will be blocked if you don’t update your KYC details immediately. Victims are then asked to share their Aadhaar number, PAN, or other personal details via a fraudulent link or over a call. In some cases, they also ask users to complete the process through UPI apps, stealing money from their accounts during the process. How to avoid it: <ul><li>Banks and financial institutions never ask for personal details over a call, message, or link.</li><li>Always update KYC details through official channels, like the bank’s app or website.</li><li>If you receive a suspicious KYC request, report it to your bank’s customer service immediately.</li></ul>SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/waaree-energies-to-afcons-infrastructure-ipos-to-look-out-for-this-week/articleshow/114421377.cms">Waaree Energies to Afcons Infrastructure, IPOs to look out for this week</a> <a href="https://www.businessinsider.in/personal-finance/news/best-credit-cards-for-online-shopping-in-india/articleshow/114354358.cms">Best credit cards for online shopping this festive season</a> <a href="https://www.businessinsider.in/stock-market/news/bigger-they-are-harder-they-fall-a-look-at-how-the-countrys-biggest-ipos-have-fared/articleshow/114307997.cms">Bigger they are, harder they fall – A look at how the country’s biggest IPOs have fared</a>

UPI refund to digital arrest scam, here are some online scams you need to be aware of

<ul><li><keyword id="790242" type="General" weightage="20" keywordseo="whatsapp" source="Orion">WhatsApp</keyword> is expected to soon get several new features, including AI-powered features.</li><li>The upcoming features also include international <keyword id="19900911" type="General" weightage="20" keywordseo="upi" source="keywords">UPI</keyword> payments from WhatsApp.</li><li>Here are some of the features expected to be introduced soon on WhatsApp.</li></ul>WhatsApp received several features in <a href="https://www.businessinsider.in/tech/apps/news/list-of-features-introduced-by-whatsapp-in-2023/articleshow/106141000.cms"> 2023</a>, including the ability to edit messages that have already been sent, using<a href="https://www.businessinsider.in/tech/apps/news/how-to-use-two-whatsapp-accounts-on-one-phone/articleshow/104641592.cms"> multiple accounts</a> on a single phone, chat lock, and more. The Meta-owned platform has now been spotted testing some new features. The upcoming features range from international UPI payments to AI features for editing photos, answering queries and more. WhatsApp is also expected to get usernames, longer video status duration and more. In this post, we look at some of the upcoming WhatsApp features. <cmsannotation type="cmsannotation" annotationid="International UPI payments" comment="subhead" text="International UPI payments">International UPI payments</cmsannotation> WhatsApp is<a href="https://twitter.com/AssembleDebug/status/1772145252415189196"> reportedly</a> working on a new feature that will allow users to enable international payments in the app. As part of this, users will be able to authorise international payments for a period of up to three months using UPI right from WhatsApp. This will allow users to make payments to international businesses. Do note that this feature is already available in UPI apps such as PhonePe and Google Pay. <cmsannotation type="cmsannotation" annotationid="AI photo editing, chat and more" comment="subhead" text="AI photo editing, chat and more">AI photo editing, chat and more</cmsannotation> Meta will reportedly integrate its Meta AI into WhatsApp, allowing users to ask questions and chat with the AI chatbot using the search bar. The app will offer users suggestions on what questions to ask to easily get answers. In addition to this, WhatsApp is also working on a tool that will allow users to use AI to edit their photos before they send them to others. Users will reportedly be able to change the background of the images, add artistic effects to the images and more. The introduction of these features will eliminate the need to use other AI-powered tools to get answers to queries or edit images. <cmsannotation type="cmsannotation" annotationid="Share files" comment="subhead" text="Share files">Share files</cmsannotation> WhatsApp is reportedly working on a new feature that will allow users to easily share files with others. This feature works just like Google’s Quick Share feature and is expected to allow users to share files up to 2GB. This feature will allow users to share files only with users who are near them. <cmsannotation type="cmsannotation" annotationid="Username for login" comment="subhead" text="Username for login">Username for login</cmsannotation> WhatsApp is expected to soon introduce a new feature that will enable users to set usernames on the app. Applications such as Instagram and Facebook already allow users to use unique usernames on their platforms. With the introduction of this feature, users will be able to set unique usernames on WhatsApp and will not be required to share their phone number to connect with someone. Telegram has been offering this feature for a while now, and Signal recently<a href="https://www.businessinsider.in/tech/apps/news/signal-launches-usernames-to-keep-your-phone-number-private/articleshow/107868401.cms"> announced</a> the rollout of the feature. <cmsannotation type="cmsannotation" annotationid="Profile picture privacy" comment="subhead" text="Profile picture privacy">Profile picture privacy</cmsannotation> In a bid to boost user privacy, WhatsApp is planning on rolling out a new feature that will prevent users from taking screenshots of the profile pictures of other users. Users who try to take a screenshot of a profile picture will get an error message that reads, “Can’t take a screenshot due to app restrictions.”. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/wwdc-2024-to-begin-on-june-10-ai-features-for-ios-18-and-more/articleshow/108810215.cms">WWDC 2024 to begin on June 10 – AI features for iOS 18 and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-12-review/articleshow/108723955.cms">OnePlus 12 review: A feature-packed device with promising battery backup</a> <a href="https://www.businessinsider.in/tech/mobile/news/motorola-edge-50-pro-to-launch-in-india-on-april-3-everything-we-know-so-far/articleshow/108667275.cms">Motorola Edge 50 Pro to launch in India on April 3 – Everything we know so far</a>

From AI photo editing to international UPI payments, here are upcoming WhatsApp features

In less than a decade since its launch in 2016, UPI payments are crossing new milestones every month. The simple payment method has become the go-to mode for consumers across the country. <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword> pioneered QR Codes and Soundbox have strengthened in-store payments further empowering merchants to accept payments from <keyword id="6076084" type="General" weightage="100" keywordseo="paytm-upi" source="Orion">Paytm UPI</keyword> along with UPI Lite, Paytm Wallet, cards and netbanking. The transformation in payments that Paytm has brought is creating waves globally and was also highlighted by the German Embassy in India. During a visit to Bengaluru, Germany's Federal Minister for Digital and Transport Volker Wissing made payments to a vegetable seller by scanning the Paytm QR code. <div type="twitter" handle="GermanyinIndia" handlename="GermanyinIndia" favoritecount="0" retweetcount="0" id="1693162556918210966"></div> Taking to X (formerly known as Twitter), the German Embassy posted: "One of India’s success story is digital infrastructure. UPI enables everybody to make transactions in seconds. Millions of Indians use it. Federal Minister for Digital and Transport @Wissing was able to experience the simplicity of UPI payments first hand and is very fascinated!" From the neighbourhood vegetable vendor to the bakery next door, Paytm QR Codes are omnipresent across the length and breadth of India. Paytm is leading technology for small shops in India which is fascinating people the world over. <div type="twitter" handle="Zecca_Lehn" handlename="Zecca_Lehn" favoritecount="0" retweetcount="0" id="1680584301908492288"></div> Zecca Lehn of Responsibly Ventures posted on X: Saw someone in India today pay a chai street vendor via a<a href="https://twitter.com/Paytm"> @Paytm</a> barcode sticker ($0.25 drink at entrance of major tourist site. Cost: Thimble sized paper cup, one tea bag, packet of sugar/cream, gas burner and large teapot) <a href="https://twitter.com/hashtag/HelloMyFriend?src=hashtag_click">#HelloMyFriend</a> The fintech giant is always the first on the block to bring innovations in UPI to millions. It was the first to launch UPI payments through RuPay credit cards on its platform. This has further boosted the credit ecosystem in India by making use of credit cards mainstream. <div type="twitter" handle="abcdarsh" handlename="abcdarsh" favoritecount="0" retweetcount="0" id="1691689967792382446"></div> Another user Adarsh Mehta posted: Paid with my rupay credit card at this street shop in rural area, never thought card will be used in this way.... Amazing <a href="https://twitter.com/Paytm">@Paytm</a> Paytm enables consumers to make effortless payments any time, anywhere. With fastest UPI payments that never fail, Paytm has become synonymous with mobile payments in India. From ‘scan &amp; pay’ to ‘tap &amp; pay’, Paytm’s technology-led innovations have brought seamless transactions to millions of users. <div type="twitter" handle="akash_mehta15" handlename="akash_mehta15" favoritecount="0" retweetcount="0" id="1688778343586615296"></div> Another user Akash Mehta took to X and posted: Lightning fast payment on<a href="https://twitter.com/Paytm"> @Paytm</a> during peak hour in Mumbai resolves the need to keep loose change.<a href="https://twitter.com/vijayshekhar"> @vijayshekhar</a><a href="https://twitter.com/hashtag/DigitalIndia?src=hashtag_click"> #DigitalIndia</a> As India’s leading payments and financial services platform, Paytm has been driving convenience for users. The company has been instrumental in expanding financial inclusion in the country. It is one of the champions of Digital India, revolutionising mobile payments by making Paytm UPI easily accessible to everyone. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in

QR in India is synonymous with Paytm – here's how the fintech giant has taken UPI to every part of the country

When it comes to digital payments, UPI has become the most preferred option for consumers. According to NPCI, 9.96 billion transactions worth ₹15.34 lakh crore were processed through UPI in July 2023. Taking the popularity of UPI a step ahead, UPI Lite has taken over the country’s imagination for small-value transactions up to ₹200 in a single-click. Since its launch earlier this year, UPI Lite has seen massive adoption in the country with more than 10 million transactions being processed through it in a month. <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword> was the first to introduce UPI Lite for small value transactions, emerging as the leading payments platforms for UPI Lite. In fact, over 63% of all UPI Lite payments through Paytm QR Codes are from <keyword id="1736801" type="General" weightage="20" keywordseo="paytm-app" source="Orion">Paytm app</keyword>. Paytm Payments Bank has recorded over 50 million UPI Lite transactions so far, with over 9 million users. Having been the first payments bank to go live with UPI Lite, <keyword id="16361842" type="General" weightage="100" keywordseo="paytm-upi-lite" source="Orion">Paytm UPI Lite</keyword> has recorded a total transaction GMV of ₹280 crore till date. Recognising the transformative impact of UPI Lite in everyday lives and its widespread popularity, the Reserve Bank of India recently announced an increase in its transaction limit from ₹200 to ₹500. To further boost the adoption of UPI Lite, the apex bank is also set to introduce offline payments through UPI Lite by leveraging Near Field Communication (NFC) technology. Paytm UPI Lite has been designed for superfast and secure transactions to empower users with lightning-fast payments that never fail. With Paytm UPI Lite, users can make single-click payments even when banks have success rate issues during peak transaction hours. This is because UPI Lite saves the core banking system from stress, as the transactions will happen directly between a device and NPCI, not using the core banking system. One of the major benefits of Paytm UPI Lite is that individual payments made through it are not reflected in the bank passbook, offering a clean bank statement. Only a single entry for adding UPI Lite balance is shown which is a maximum of ₹2,000 that can be added twice a day, making the cumulative daily usage up to ₹4,000. Additionally, Paytm UPI Lite incorporates robust security measures to protect user transactions, with 3-level bank-grade security. Paytm UPI Lite balance can be used to make superfast UPI payments to any UPI QR Code, send money to any mobile number, or even transfer to one’s own self bank accounts linked to Paytm App through the self-transfer option. Currently, 16 banks support Paytm UPI Lite — Paytm Payments Bank, State Bank of India, HDFC Bank, Kotak Mahindra Bank, ICICI Bank, Axis Bank, AU Small Finance Bank, Indian Bank, Punjab National Bank, Union Bank of India, UCO Bank, Canara Bank, Central Bank of India, Federal Bank, Punjab and Sind Bank, and Utkarsh Small Finance Bank. Pioneer of mobile payments in India, Paytm has been driving convenience for users with its innovative payments solutions. With UPI Lite, the company has added another dimension to its comprehensive payments offerings, enabling reliable and superior payments experience. The fintech giant has revolutionised the way Indians transact, making everyday payments hassle-free, quick and seamless. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in

Paytm UPI Lite is leading small-value payments in India with single-click transactions that never fail

In the realm of mobile payments, UPI stands out as the go-to solution. As the popularity of UPI transactions continues to rise, there has been a lot of innovation in this mode of payments. And at the forefront of driving this innovation is <keyword id="6357120" type="General" weightage="100" keywordseo="paytm" source="Orion">Paytm</keyword> Payments Bank, revolutionising credit card transactions in India with ground-breaking solutions. Paytm Bank has now taken a leap forward by introducing the seamless integration of RuPay credit cards with UPI for everyday payments, solidifying its position as the ultimate platform for digitally enabled credit card experience. Through this collaboration between Paytm Payments Bank and the National Payments Corporation of India, this innovative integration empowers users to leverage the benefits of credit cards with every UPI payment, By linking a <keyword id="3249074" type="General" weightage="20" keywordseo="rupay-credit-card" source="Orion">RuPay credit card</keyword> to Paytm UPI, users can effortlessly pay merchants by scanning the UPI-enabled QR code via the <keyword id="1736801" type="General" weightage="20" keywordseo="paytm-app" source="Orion">Paytm app</keyword>. This eliminates the need to carry cards at all times, streamlining both offline and online payments. As a result, transactions become faster and more efficient. With the UPI ecosystem recording 890 crore transactions worth ₹14.07 lakh crore in April 2023, the potential for RuPay credit cards on UPI is immense. <cmsannotation type="cmsannotation" annotationid="How to make UPI payments with RuPay Credit Card on Paytm" comment="subhead" text="How to make UPI payments with RuPay Credit Card on Paytm">How to make <keyword id="3679109" type="General" weightage="20" keywordseo="upi-payments" source="Orion">UPI payments</keyword> with RuPay Credit Card on Paytm</cmsannotation> <ul><li>Go to ‘UPI and Payment Settings’ option Paytm App</li><li>Tap on the ‘Link Rupay Credit Card on Paytm UPI’ option</li><li>Select your RuPay credit card from the list of authorized cards provided</li><li>Set a UPI PIN for your RuPay credit card</li><li>Pay any merchant who accepts UPI payments from Rupay Credit Card by scanning their QR code</li></ul><cmsannotation type="cmsannotation" annotationid="India’s leading credit card issuers embrace Rupay Credit Card on UPI" comment="subhead" text="India’s leading credit card issuers embrace Rupay Credit Card on UPI">India’s leading credit card issuers embrace Rupay Credit Card on UPI</cmsannotation> Major credit card issuers in India, including Canara Bank, HDFC Bank, Indian Bank, Punjab National Bank and Union Bank of India, have tirelessly worked to offer RuPay credit cards to the growing user base of 26 crore UPI users. This integration opens up new opportunities for customers across different age groups and backgrounds to use their credit cards, leading to increased card activations and engagement. By linking credit cards with UPI, the advantages for customers and card issuers alike are significant. For customers, using credit cards at any merchant accepting UPI payments is now possible, without draining their bank balance. Additionally, there is no need to carry the card, reducing the chances of fraud and loss. Meanwhile, card issuers will see incremental spends from smaller merchants who previously did not have the infrastructure to accept card payments. This integration helps activate and engage a wider customer base. RuPay credit cards are issued by various banks in India and offer various benefits such as cashback, discounts, rewards and more. By linking their RuPay credit cards to UPI on the Paytm app, customers can make payments to any merchant who accepts UPI payments from RuPay credit cards by scanning their QR code. With the introduction of RuPay Credit Card on UPI, Paytm has taken a significant step towards bridging the digital divide and revolutionizing the digital payments landscape. The company recently launched the Paytm SBI Card on the RuPay network that will also enable users to make UPI payments through it soon. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in

With Rupay Credit Card on UPI, mobile payments pioneer Paytm deepens its leadership in UPI

<ul><li>More than 74.05 billion transactions worth ₹126 lakh crore were processed through <keyword id="6358921" type="General" weightage="100" keywordseo="upi" source="Orion">UPI</keyword> in 2022. </li><li>The increase in the usage of QR codes has led to a rise in UPI transactions, with the number of transactions via QR codes reaching 237 million in December 2022. </li><li>Debit card transactions have shown a consistent decline throughout 2022, likely due to the increasing popularity of UPI transactions.</li></ul>Indians are increasingly choosing to pay digitally with transactions via debit, credit, prepaid cards and UPI amounting to ₹149.5 lakh crore in value and 88 billion in volume in 2022, as per a Worldline report. A lion’s share of these transactions occurred via UPI (Unified Payments Interface) – accounting for ₹126 lakh crore, over 74.05 billion transactions in 2022. UPI transactions grew 91% in volume and rose 76% in value over the year before. “I am amazed every day to see the incredible progress we have made in the <keyword id="6358577" type="General" weightage="20" keywordseo="digital-payments" source="Orion">digital payments</keyword> ecosystem over the past few years. The adoption of multiple payment solutions is a boon in our journey to realise the dream of a less-cash India,” said Ramesh Narasimhan, CEO, Worldline India. The growth in UPI transactions was aided by growth in the ecosystem. The number of transactions via QR codes reached 237 million in December 2022 as compared to 152 million in January 2022. Other payment options,like FASTag, <keyword id="6718634" type="General" weightage="50" keywordseo="bharat-bill-pay" source="Orion">Bharat Bill Pay</keyword> and Aadhaar-enabled Payment System (AePS) also picked up in 2022, said the report named ‘India Digital Payments Annual Report'. <cmsannotation type="cmsannotation" annotationid="Debit down, credit up" comment="subhead" text="Debit down, credit up">Debit down, credit up</cmsannotation> The number of outstanding debit cards increased by a mere 0.2% to 939.4 million in 2022, as compared to the year before. “Debit card transactions have shown a consistent decline throughout the year, likely due to the increasing popularity of UPI transactions,” the report said. On the other hand, banks have increased the number of credit cards by 18% indicating an increased appetite for higher-ticket transactions. “The volume and value of transactions done on credit cards has seen a steady uptick through the year. Credit card transactions in 2023 could benefit majorly as credit cards are now eligible for doing UPI transactions,” the report said. <cmsannotation type="cmsannotation" annotationid="Small &amp; big transactions via UPI" comment="subhead" text="Small &amp; big transactions via UPI">Small &amp; big transactions via UPI</cmsannotation> At the end of 2022, 54% of UPI transactions volume was P2M (person-to- merchant transactions) whereas in terms of value it was 23%. By December 2022, the average ticket size (ATS) for UPI person-to-person (P2P) transactions was ₹2,753, while the ATS for UPI person-to-merchant (P2M) transactions was ₹687. “This signals the deep entrenchments of UPI P2M transactions; it is being used for large as well as very small transactions, the latter being the most difficult to move away from cash,” the report said. <keyword id="6357886" type="General" weightage="50" keywordseo="phonepe" source="Orion">PhonePe</keyword>, Google Pay, <keyword id="14300323" type="General" weightage="50" keywordseo="paytm-payments-bank-app" source="Orion">Paytm Payments Bank App</keyword>, Amazon Pay, and Axis Bank were the top 5 UPI apps in 2022, based on both transaction volume and value. <cmsannotation type="cmsannotation" annotationid="FASTag, Bharat Bill Pay &amp; AePS payments on the rise" comment="subhead" text="FASTag, Bharat Bill Pay &amp; AePS payments on the rise">FASTag, Bharat Bill Pay &amp; AePS payments on the rise</cmsannotation> By the end of 2022, National Electronic Toll Collection (NETC) processed a total of 3.25 billion transactions worth ₹50,911 crore, representing a 31% increase in volume and a 37% increase in value over 2021. As of December 2022, a total of 36 banks were live with NETC FASTag. In 2022, the Bharat Bill Payment Central Unit (BBPCU) processed a total of 985.7 million transactions with a total value of ₹1.70 lakh crore. This represents a growth rate of 75% in volume and 83% in value compared to the year 2021. Also in 2022, the AePS recorded a significant volume of over 2.63 billion transactions with a total value of ₹3.42 lakh crore. This represents a growth rate of approximately 24% in volume and 20% in value compared to the year 2021. AePS is a bank-led model that enables online interoperable financial inclusion transactions at point of sale (microATM) through the business correspondent of any bank using Aadhaar authentication.

With transactions worth ₹126 lakh crore, UPI rules digital payments in 2022: Worldline report

<ul><li>Cashback offers by paying through <keyword id="6358921" type="General" weightage="20" keywordseo="upi" source="Orion">UPI</keyword> apps have reduced considerably and are often for specific periods or linked to specific merchants. </li><li><keyword id="1321742" type="General" weightage="20" keywordseo="linking" source="Orion">Linking</keyword> <keyword id="6387037" type="General" weightage="20" keywordseo="credit-cards" source="Orion">credit cards</keyword> to UPI opens up the possibility of earning <keyword id="45593" type="General" weightage="20" keywordseo="rewards" source="Orion">rewards</keyword> on transactions. </li><li>Whether for everyday purchases or significant transactions, users can accumulate reward points and earn <keyword id="2561477" type="General" weightage="20" keywordseo="cashbacks" source="Orion">cashbacks</keyword>. </li></ul>When UPI or United Payment Interface was in its earlier days, companies would give huge cashbacks to win over customers. People would get cashback of even a few hundred rupees to make payments on Google Pay. Other players like Paytm also had similar cashback offers. However, that is not the case now. The amount of cashbacks have reduced significantly, as expected. But since we spend a lot through UPI, is there still some way to get cashbacks on UPI spends? Many banks and payment service providers (PSP) apps offer cashback incentives to encourage UPI transactions through their app. “Firstly, frequent usage of UPI for payments, including bills, online shopping, and peer-to-peer transfers, often unlocks cashback rewards. Additionally, some platforms provide special promotions or discounts when using UPI during specific periods or for specific merchants,” says Sachin Castelino, chief strategy and transformation officer, In-Solutions Global, a fintech services company. For example, Paytm and Amazon Pay launched such offers during summer for a specific period but the amount of cashback was limited to small amounts or only once per customer. Account holders of the newly launched "DCB Happy Savings Account" can enjoy cashback rewards on qualifying domestic UPI debit transactions, with potential incentives up to ₹7,500 annually. Referral programs are another avenue; referring friends to use UPI can result in cashback benefits for both the referrer and the new user. Lastly, some financial institutions collaborate with merchants to offer exclusive UPI cashback deals. However, such offers are few and far between. Link your credit card to UPI to avail cashback However, there is a way you can pay through UPI and earn cashback and rewards. You can apply for a RuPay credit card through one of its partner banks, and then link it to a payment app like Google Pay or Paytm. Currently Mastercard and Visa credit cards cannot be linked to UPI. “Linking credit cards to UPI opens up the possibility of earning rewards on transactions, compared to debit cards/savings accounts as the latter typically lacks rewards programmes,” says Mohit Bedi, Co-founder, Kiwi, a fintech startup. “The linking not only streamlines payments but also encourages users to prefer credit cards for UPI transactions, establishing a mutually beneficial relationship between consumers and financial institutions,” says Castelino. Whether for everyday purchases or significant transactions, users can accumulate reward points and earn cashbacks according to their credit card reward programs, elevating the overall payment experience. This way you can earn cashbacks and rewards each time you make a UPI payment. However, remember that linking your credit card to UPI comes with the risk of overspending through impulsive purchases, as you would need to pay your credit card bill on time to avoid any late penalties and high interest charges.

You Searched For "upi payment app" and got 12 results

Paytm can onboard new UPI users again, receives NPCI nod months after RBI restrictions

BI India Bureau

RBI to set up public repository of digital lending apps to check unauthorised players

PTI

Women are more likely to adopt digital financial services when introduced by local agents or women community influencers

ANI

Zomato announces new feature for cash on delivery orders and it can help solve a huge problem

Divyanshi Sharma

Reserve Bank asks NPCI to help continue operations of Paytm app

PTI

UPI refund to digital arrest scam, here are some online scams you need to be aware of

Sourabh Jain

From AI photo editing to international UPI payments, here are upcoming WhatsApp features

Sourabh Jain

QR in India is synonymous with Paytm – here's how the fintech giant has taken UPI to every part of the country

Insider Studios

Paytm UPI Lite is leading small-value payments in India with single-click transactions that never fail

Insider Studios

With Rupay Credit Card on UPI, mobile payments pioneer Paytm deepens its leadership in UPI

Insider Studios

With transactions worth ₹126 lakh crore, UPI rules digital payments in 2022: Worldline report

Anagh Pal

Falling cashback on UPI payments – Credit card linking opens a door

Business Insider India

Popular Keywords

Buying Guides