New Delhi, July 20 (IANS) Nearly 55.49 crore users had been onboarded on the Unified Payments Interface (UPI) platform as of June 2026, while UPI processed a record 24,161.69 crore transactions worth Rs 314.23 lakh crore during FY2025-26, the Centre informed Parliament on Monday.The transaction volume has risen steadily over the past five financial years. UPI processed 4,595.61 crore transactions worth Rs 84.16 lakh crore in FY2021-22, followed by 8,371.44 crore transactions valued at Rs 139.15 …
Latest Digital Payments News & Updates
New Delhi, July 13 (IANS) Union MoS for Science & Technology, Earth Sciences, Dr. Jitendra Singh said India is entering the next phase of governance transformation through Next Generation Administrative and e‑Governance Reforms with AI, digital platforms at core, an official statement said on Monday.Dr. Singh inaugurated the two‑day National Conference on Next Generation Administrative and e‑Governance Reforms in Shillong, jointly organised by the Department of Administrative Reforms a…
New Delhi, July 8 (IANS) The National Payments Corporation of India (NPCI) said on Wednesday that UPI on-device biometric authentication-based payments accounted for over 611 million transactions in June, with a total transaction value of Rs 25,416 crore, reflecting strong adoption across everyday payment use cases.The feature enables users to authorise UPI payments using smartphone’s fingerprint or facial recognition.The growing adoption of biometric authentication reflects the increasing pre…
New Delhi, July 1 (IANS) The National Payments Corporation of India (NPCI) on Wednesday announced a strategic partnership with HSBC India to enable real-time foreign exchange (FX) settlement for cross-border Unified Payments Interface (UPI) transactions to make international digital payments more seamless and transparent for Indian travellers.Under the collaboration, HSBC India will provide real-time FX rates through direct API integration, allowing customers to view the exact Indian rupee (INR)…
New Delhi, July 1 (IANS) Prime Minister Narendra Modi said on Wednesday that the success of 11 years of the ‘Digital India’ initiative has given the country a new identity worldwide. PM Modi said this feat reveals the resolve of the countrymen to take the nation to new heights by embracing innovation and technology.“Digital India is the strong foundation of a developed and self-reliant India. Over the past 11 years, it has played a crucial role in empowering the poor and deprived, while makin…
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…
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…