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Posts Tagged ‘ UPI ’

PayU to widen fintech play, bets on cross-border payments, offline business

Tuesday, February 28, 2017 | More »

PayU to widen fintech play, bets on cross-border payments, offline business
Naspers-owned payments gateway PayU India is betting big on the fintech space in India. While its primary focus will be on payments, particularly cross-border payments, it is also entering the credit business and offline space. In an interaction with VCCircle, PayU co-founder and chief operating off...

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Now, government to take on VC-backed wallet startups with ‘cashback’ for BHIM app

The government will soon announce a cashback scheme for users of the Bharat Interface for Money (BHIM) app in a bid to boost digital transactions, NITI Aayog CEO Amitabh Kant has said. Since its launch in end-December,  BHIM app has been downloaded by 17 million users, creating a world record, Kant...

21 February, 2017 | More »

In U-turn, NPCI tells PhonePe to adhere to UPI norms

Will abundant cash supply spoil the m-wallet party?

Without a doubt, digital wallets have been the biggest beneficiary of Prime Minister Narendra Modi’s November move to scrap high-value banknotes. The resultant cash crunch brought thousands of borderline and non-users into the ecosystem, something that would have otherwise taken a few quarters...

9 February, 2017 | More »

In U-turn, NPCI tells PhonePe to adhere to UPI norms

ICICI Bank allows UPI transactions through Flipkart’s PhonePe

After weeks of confusion and a near-verbal spat between Flipkart’s e-wallet PhonePe and ICICI Bank, the private sector lender has finally allowed UPI-based transactions on the payments app. “The merchant has now adhered to the NPCI guidelines on interoperability by making the necessary corre...

2 February, 2017 | More »

Flipkart

Flipkart’s PhonePe lashes out at ICICI, accuses bank of ‘flexing muscle’

The tussle between Flipkart’s digital wallet PhonePe and ICICI Bank over the UPI payments issue has taken the form of a public spat, with the startup’s founder and CEO Sameer Nigam accusing the country’s biggest private-sector lender of “flexing its muscle to overcome what they belie...

23 January, 2017 | More »

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Flipkart halts UPI payments after NPCI reverses stand in ICICI-PhonePe tussle

Flipkart-owned PhonePe has halted payments through the unified payment interface (UPI) option on the e-commerce company’s app as National Payments Corporation of India (NPCI) and ICICI Bank turn up the heat on the digital wallet to adhere to interoperability norms, a financial daily reported o...

22 January, 2017 | More »

In U-turn, NPCI tells PhonePe to adhere to UPI norms

In U-turn, NPCI tells Flipkart’s PhonePe to adhere to UPI norms

Making a U-turn in the tussle between private-sector lender ICICI Bank and Flipkart’s digital wallet PhonePe, National Payments Corporation of India (NPCI) on Friday said PhonePe doesn’t adhere to interoperability norms of the Unified Payments Interface (UPI). NPCI, the umbrella organisation...

20 January, 2017 | More »

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ICICI Bank rejects NPCI call to unblock PhonePe

The tussle between ICICI Bank and online retailer Flipkart’s digital wallet, PhonePe, isn’t likely to end soon with the private-sector lender again refusing to allow transactions through the payment app. The latest refusal comes after National Payments Corporation of India (NPCI), an umbrell...

20 January, 2017 | More »

PhonePe

Flipkart-owned PhonePe crosses 10 million downloads in two months

Mobile payments entity PhonePe Internet Pvt. Ltd has crossed the 10 million downloads mark on the Google Play Store. The Flipkart-owned PhonePe, which launched its app based on the unified payment interface (UPI) platform about two months back, gained traction after the government’s demonetisation...

11 January, 2017 | More »

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Will digital wallets survive the UPI onslaught?

In the last two months that demonetisation has dominated dinner-table conversations, digital wallet Paytm has had a dream run, clocking unprecedented numbers. TechCircle recently reported that Hero Corporate Services chairman Sunil Munjal was reportedly looking to buy a stake in the digital wallet f...

6 January, 2017 | More »

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