New Delhi, April 25 (IANS) The Reserve Bank of India (RBI) has issued a draft Master Direction on Prepaid Payment Instruments (PPIs) to enhance security, customer protection and operational clarity for digital wallets and prepaid cards.RBI’s draft would allow banks that issue debit cards to offer PPIs after informing the Department of Payment and Settlement Systems (DPSS), according to reports.”A non-bank applicant shall have a minimum net-worth of Rs 5 crore, and shall submit a certificate…fr…
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New Delhi, April 6 (IANS) Unified Payments Interface (UPI) processed 228.5 billion transactions in 2025, marking a 33 per cent year‑on‑year increase, while total transaction value touched Rs. 299.74 trillion, a report said on Monday.The report from Worldline said that UPI’s growth was broad‑based, with both person-to-person (P2P) and person-to-merchant (P2M) transactions rising, with the latter recording a 34 per cent growth to 143.82 billion transactions.The overall average ticket size …
New Delhi, March 29 (IANS) From April 1, 2026, making digital payments in India is set to become more secure, but slightly more time-consuming, as the Reserve Bank of India (RBI) rolls out new rules for online transactions.The central bank has made two-factor authentication (2FA) mandatory for all digital payments, including those made through UPI, debit and credit cards, and mobile wallets.This means that OTP alone will no longer be sufficient to complete a transaction. Users will now have to g…