The Union Cabinet has approved a ₹1,500 crore incentive scheme for banks to encourage Unified Payments Interface (UPI) transactions that are under ₹2,000 for the fiscal year 2024–25. With this scheme, banks will earn a 0.15% incentive on transactions made by small merchants, and 20% of the payout ...

The Unified Payments Interface (UPI) is ready to foray into the UK market starting with QR code-based transactions. The NPCI International Payments Ltd (NIPL) has partnered with payments solutions provider, PayXpert to internationalise the acceptance of its payment ...

Fintech startup XPay.Life, which claims to be India’s first blockchain-enabled transaction framework, on Friday launched its UPI services targeted at rural India, as it completes three years of operations. it also claims to be India’s first blockchain-enabled transaction framework. XPay.Life ...

RBL Bank has tied up with Amazon Web Services to offer UPI payments. The bank has partnered with Amazon Pay to offer peer-to-peer and peer-to-merchant transactions. With this integration, Amazon Pay will issue NPCI’s allocated UPI ID with the handle @rapl to RBL Bank. ...

ToneTag, sound-based proximity communication and payments service provider, has recently rolled out VoiceSe UPI digital payments for feature phone user, in partnership with NSDL Payments Bank and NPCI, under the guidance of RBI. Reserve Bank of India has launched the UPI 123Pay facility that ...