Monday, March 27, 2023
Outlook India
Outlook Business


Paytm requires a permit to operate its payment gateway business through which it facilitates payments to various merchants

With Global business-to-consumer (B2C) e-commerce exports estimated to grow from $800 billion to $8 trillion by 2030, India's strengths in high-demand customized products, expanding seller base, and higher profit margins per unit of export place it in a prime...

India's home-grown payment products like UPI and RuPay network are increasing their global footprint and will make cross-border payments easier, Das said while inaugurating the Payment System Operators (PSO) Conference

He also said the overall monthly digital payment transactions crossed over Rs 1,000-crore-mark each month during the past three months

The penalty is based on deficiencies in regulatory compliance and not intended to pronounce upon the validity of any transaction or agreement entered into by the Amazon Pay (India) with its customers

ICICI Bank, IDFC First Bank and Pine Labs Private Limited are being powered by Sarvatra Technologies to issue UPI-linked wallets to eligible travellers at select international airports (Bengaluru, Mumbai and New Delhi) and meeting venues

Prime Minister Lee said the idea of linking PayNow and UPI was first conceived in 2018 when Prime Modi visited Singapore

The central bank announced the construction of a composite RBI-DPI in March 2018 as a base to capture the extent of digitisation of payments across the country

This partnership comes at the back of the Reserve Bank of India Central Bank Digital Currency's (CBDC) pilot program

According to the report, more than 9000 registered NBFCs in India provide credit services to the underserved sections of the economy