Two new changes have come to UPI starting November 1. The National Payments Corporation of India (NPCI) has introduced an auto top-up feature and increased transaction limits for UPI Lite, effective November 1, 2024, to streamline small-value digital payments. New transaction limit and more Under the new guidelines, users can now make transactions up to…
The National Payments Corporation of India (NPCI) is reportedly taking a firm stance against unauthorised use of virtual IDs generated for Unified Payments Interface (UPI) transactions. According to a report in Economic Times, certain fintech firms have been offering a service that allows businesses to authenticate users using their UPI IDs, a practice that violates…
The National Payments Corporation of India (NPCI) is reportedly discussing partnerships with several startups to introduce biometric authentication for Unified Payments Interface (UPI) transactions.According to sources familiar with the matter, as reported by MoneyControl, the proposed system would allow users to authenticate UPI payments using fingerprints on Android devices and face ID on iPhones, replacing…
Starting August 1, 2024, new FASTag regulations have been implemented by the National Payments Corporation of India (NPCI) to enhance toll collection efficiency and reduce congestion on roadways. These changes are crucial for all FASTag users to comply with by October 30, 2024, to avoid inconveniences at toll plazas.New FASTag regulations: Key changesKYC updates: FASTags…
MUMBAI: More than 200 cooperative and regional rural banks are experiencing outages because of a ransomware attack. Following the attack, the National Payments Corporation of India disconnected their core banking provider C-Edge Technologies – a technology company promoted by SBI and TCS – from the payment system.In a statement issued here, NPCI said, “C-Edge Technologies,…
New regulations for FASTags, the electronic toll collection system, will take effect on August 1, 2024, as announced by the National Payments Corporation of India (NPCI). These changes aim to enhance the system’s efficiency and security, impacting millions of FASTag users across India. FASTag rules and deadlines The most critical deadline in these new rules…
ATM transactions to cost you more? The Confederation of ATM Industry (CATMI) has approached the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI) to request an increase in the interchange fee paid by customers for cash withdrawals at ATMs. CATMI is seeking to raise the fee to a maximum of…
NEW DELHI: Despite recent turbulent history, Maldives is set to introduce India’s RuPay service, according to a senior Maldivian minister who said that the collaboration ‘will bolster the Maldivian Rufiyaa.’ “The upcoming launch of India’s RuPay service is anticipated to further bolster the Maldivian rufiyaa (MVR),” Saeed said in an interview with PSM News on…
The National Payments Corporation of India (NPCI), the government-owned body that governs the Unified Payments Interface (UPI), reportedly held a meeting to discuss ways to empower new players in the UPI ecosystem. According to a report in Economic Times, several new third-party payments apps on UPI are being nudged by NPCI to invest and incentivise…
