New Delhi, June 20 (IANS) Recent wallet inactivity notifications from PhonePe have led to increased consumer interest in digital wallets and how they function. One of the key observations from these discussions is that many users continue to assume that their PhonePe account, UPI account, and PhonePe Wallet are the same. In reality, these are different payment instruments that operate independently and serve different purposes.As digital payments become increasingly common in everyday life, unde…
Latest Digital Payments News & Updates
New Delhi, June 12 (IANS) Proposed changes to India’s prepaid payment instrument (PPI) framework could have unintended consequences for digital payments adoption, financial inclusion and everyday consumer transactions if not carefully calibrated, a report said on Friday.The report from Pahle India Foundation called for a proportionate, risk‑based approach that aligns compliance requirements with actual risk levels and urged preserving low‑value, high‑frequency use cases.Major policy inte…
New Delhi, June 8 (IANS) Direct Benefit Transfer (DBT) has transformed the way welfare schemes are delivered in India, with more than Rs 50 lakh crore transferred directly into beneficiary accounts and leakages worth over Rs 4.31 lakh crore prevented, the government said on Monday, highlighting the system’s role in improving efficiency, transparency and financial inclusion.In a post on social media platform X, the Ministry of Finance said that DBT has fundamentally reshaped welfare delivery by…
New Delhi, May 22 (IANS) India’s Unified Payments Interface (UPI) will become operational in Cyprus from next year, marking another major expansion of the country’s digital payments ecosystem in Europe, according to the Ministry of External Affairs (MEA) on Friday.Addressing a media briefing, Sibi George said the rollout of UPI in Cyprus was one of the key outcomes of discussions held during Prime Minister Narendra Modi’s official visit to the Mediterranean nation in June 2025.The launch f…
New Delhi, May 19 (IANS) Global brokerage firm Citigroup has turned increasingly positive on Paytm, highlighting strong momentum across payments, merchant business, lending and profitability, citing ‘plenty of growth and margin drivers’ for the fintech major.In its latest report after hosting Paytm’s management at the Citi Pan Asia Conference 2026, the brokerage maintained a Buy rating on the company with a target price of Rs 1,380, implying meaningful upside from current levels.The broker…
New Delhi, May 12 (IANS) India’s rapid digital expansion outpaced its cybersecurity readiness, a report has said, citing a sharp rise in ransomware, phishing, data breaches and cyber espionage that pose risk to critical infrastructure, financial systems and ordinary citizens.The report from India Narrative identified a shortage of skilled cybersecurity professionals and urged universities and technical institutes to integrate cybersecurity into mainstream curricula and expand specialised trainin…
Surat, May 2 (IANS) In a gesture highlighting the use of public transport and digital payment systems, Gujarat Governor Acharya Devvrat travelled by a State Road Transport Corporation (ST) bus from Adajan bus stand in Surat to Jinod village in Olpad taluka on Saturday, amid prevailing high temperatures in the region. The Governor boarded a regular ST bus and undertook the journey like an ordinary passenger, setting aside protocol arrangements.During the trip, he purchased his ticket and pa…
New Delhi, April 30 (IANS) India’s flagship digital payments platform, the Unified Payments Interface (UPI), has recorded an extraordinary nearly 12,000-fold surge in transaction volume over the past decade, the Ministry of Finance said on Thursday.Launched on April 11, 2016, by the National Payments Corporation of India (NPCI) under the regulatory supervision of the Reserve Bank of India (RBI), UPI has evolved into the backbone of India’s digital payments ecosystem.From a modest base of jus…
New Delhi, April 30 (IANS) PhonePe on Thursday announced that it has crossed the milestone of 700 million (70 crores) life-till-date registered users on its platform as on April 29, 2026.This milestone highlights PhonePe’s population-scale reach in India and the breadth of its digital platform offerings across payments and financial services distribution.It also reflects the company’s sustained growth, driven by increasing consumer trust, market-leading distribution network, and a continued …
Mumbai, April 21 (IANS) The Reserve Bank of India (RBI) on Tuesday issued consolidated guidelines for e-mandates in digital payments, mandating an additional factor of authentication (AFA) to enhance the security of recurring transactions. The new norms are applicable to all payment system providers and participants handling auto-debit payments across cards, prepaid payment instruments, and the Unified Payments Interface (UPI), covering both domestic and cross-border transactions. The directions…