MUMBAI: India experienced the flip side of going cashless when Unified Payments Interface (UPI), the platform that accounts for more than four-fifths of all digital transactions in the country, suffered a major outage Saturday, leaving users struggling to make payments across malls, parking lots and shops.Users across India reported failed payments. Some got debit alerts…
The Unified Payments Interface (UPI), which enables instant real-time payments, is currently experiencing disruptions. User reports indicate widespread issues with the services offered by the system, including payments and fund transfers. According to the outage tracking website Downdetector, reports of problems surged around 7:40 pm IST, with 2,750 users reporting issues. Most users reported issues…
National Payments Corporation of India (NPCI) has announced new directives aimed at enhancing the security and efficiency of Unified Payments Interface (UPI) transactions. These guidelines, set to come into effect on April 1, 2025 require banks, Payment Service Providers (PSPs), and third-party UPI service providers like PhonePe, GPay and Paytm to implement specific measures concerning…
Introduction of platform fees for bill payments by Google Pay indicates a wider movement towards monetising UPI transactions. Google Pay, a prominent UPI (Unified Payments Interface) platform, has begun implementing a convenience fee for utility bill payments, including electricity and cooking gas bills. Previously free for low-value transactions, the service now charges between 0.5% and…
The Adani Group, led by billionaire Gautam Adani, is looking to diversify its empire by venturing into the fast-growing e-commerce and digital payments sectors in India, according to a report by the Financial Times (FT). The move comes as the conglomerate seeks to build a digital business to compete with rivals such as Tata, Google,…
