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Tag: UPI

  • Cyber ​​Attack, Data Breach Among Top Risks For Businesses In India: Survey |

    New Delhi: Cyber ​​attacks and data breaches are the top business risks for organizations in India, according to the 2023 Global Risk Management Survey. Cyber ​​attacks and data breaches were placed seventh in the 2021 business risks survey.

    Global professional services firm Aon collected inputs from around 3,000 risk managers, c-suite leaders, treasurers, talent professionals, and other executives from 61 countries and territories to identify the most pressing business challenges. (Also Read: Free Aadhaar Update Deadline Extended: Check List Of Required Documents To Do The Same)

    The biennial survey said that India's dependence on technology is likely to increase with the widespread adoption of digital infrastructure like the Unified Payments Interface, Aadhaar, and Open Network for Digital Commerce. (Also Read: Poco X6 5G Gets A Significant Price Drop On Flipkart: Check Details)

    “With increasing digitisation, cybercrimes continue to become rampant with costs and complexities associated with such breaches forcing organizations to look at risk mitigation and transfer mechanisms to better manage cyber risks,” the survey noted.

    Business interruption and failure to attract or retain top talent were marked as the second and third biggest risks facing organizations in India, respectively.

    “There is a compelling need for Indian businesses to leverage advanced data analytics and experts to understand and manage the dynamics of integrated risks,” said Nitin Sethi, Chief Executive Officer of Talent Solutions in India at Aon.

    Failure to meet customer needs, rapidly changing market trends, supply chain disruptions, and personal liabilities were marked down the list as other critical challenges for businesses in India.

  • Indian UPI Users Can Now Pay Nepalese Merchants Via QR Codes; All You Need To Know

    It was specified that merchants who are part of the Fonepay Network can now receive UPI payments from Indian customers.

  • Flipkart Launches Its UPI Handle To Boost India's Digital Economy Vision

    Bengaluru: E-commerce giant Flipkart launched its Unified Payments Interface (UPI) handle to further enhance its digital payment offerings for all customers, including its 500+ million customer base.

    Empowering Users with Flipkart UPI

    With Flipkart UPI, users can now set up their own UPI handle for online and offline merchant transactions within and outside of the Flipkart marketplace. For a distinctive customer experience, loyalty features such as Supercoins, cashback, brand vouchers, milestone benefits, and more will be offered post the UPI launch.

    Versatile Usage with Flipkart UPI

    On the Flipkart app, Flipkart UPI can be used to pay for any product or service, including e-commerce transactions, Scan and Pay to UPI ID, and recharges and bill payments, the company said in a statement.

    Strategic Partnership: Flipkart and Axis Bank

    In its first phase, Flipkart has partnered with Axis Bank, wherein users can register for UPI with the @fkaxis handle for their digital transactions using the Flipkart app. (Also Read: Infinix Smart 8 Plus Launched With AI Camera Setup In India; Check Price, Specs And Color Options)

    Vision of Flipkart UPI

    “Recognizing the dynamic digital landscape, the launch of Flipkart UPI seamlessly merges the convenience and cost-effectiveness of UPI with the trusted efficiency customers expect from us,” said Dheeraj Aneja, Senior Vice President – Fintech and Payments Group at Flipkart. “At Flipkart, we are committed to delivering the best-in-class commerce experience to customers by offering safe and convenient payment options along with a wide array of rewards and benefits such as Supercoins, Brand Vouchers, and others.”

    Driving Digital Empowerment

    According to Aneja, “Flipkart UPI underscores our dedication to shaping a digitally-empowered society and reaffirms our role as a leading catalyst in India's digital evolution.”

    Enhancing Payment Efficiency

    It also introduces one-click and quick functionalities for recharges and bill payments, enhancing overall payment efficiency for the users. With the tagline, 'India's Most Rewarding UPI,' the offering aims to provide customers an intuitive, safe, and convenient digital payment experience through its integrated checkout funnel and a slew of delightful incentives, including the benefit of instant refunds, according to the company. .

    UPI's Growing Landscape

    In 2023, UPI processed over 117 billion transactions worth Rs 182.84 trillion, showcasing a dynamic landscape with participation from banks, payment service providers, and fintech companies, according to reports. (Also Read: Ashwini Vaishnaw's BIG Statement On Google-Indian Startups Row, Says..)

    Continued Partnership Growth

    “We continue to scale our growth in UPI with partnerships and innovations. Our partnership with Flipkart has come a long way from launching one of India's most successful co-branded credit cards to now launching the Flipkart UPI service,” said Sanjeev Moghe, President and Head – Cards & Payments, Axis Bank.

    Seamless Transaction Experience

    “Customers can now register for UPI with @fkaxis handle and can do all fund transfers and checkout payments using the Flipkart app. This solution is cloud-hosted and hence provides one of the most stable and scalable UPI platforms for customers,” he added.

  • India Signs MoU To Connect UPI With UAE’s Instant Payment Platform AANI | Economy News

    New Delhi: In a significant move towards enhancing bilateral ties and fostering economic cooperation, India and the United Arab Emirates exchanged multiple memoranda of understanding (MoUs). Among these agreements was a notable MoU on linking the instant payment platforms of both nations, namely India’s UPI and UAE’s AANI.

    The exchange ceremony took place in the presence of Indian Prime Minister Narendra Modi and UAE President Mohammed bin Zayed Al Nahyan, underscoring the importance of the collaborations between the two nations. 

    India signs MoU to interlink UPI with UAE’s instant payment platform AANI

    Read @ANI Story | https://t.co/Ct7bEcgocI#UPI #RuPay #PMModi pic.twitter.com/EwFb244uFP
    — ANI Digital (@ani_digital) February 13, 2024

    These agreements will enable smooth cross-border transactions between India and the United Arab Emirates. The MoUs encompass various sectors, including investment treaties, digital infrastructure projects, and the integration of debit cards, credit cards, and online payment platforms.

    The Ministry of External Affairs stated that the Bilateral Investment Treaty MoU will greatly support increasing investments in both nations. India has ratified both a bilateral investment treaty and a Comprehensive Economic Partnership Agreement with the UAE.

    MoU has been exchanged to collaborate on electrical interconnection and trade, paving the way for new opportunities for cooperation in energy, including energy security and trade.

    An Intergovernmental Framework Agreement was also signed between India and UAE on the India-Middle East Economic Corridor which would build on previous understandings and cooperation on this matter and foster India and the UAE cooperation furthering regional connectivity, the MEA stated.

    The agreement for cooperation in Digital Infrastructure Projects will create a framework for wide-ranging cooperation, including investment cooperation, in the digital infrastructure sector and also facilitate the sharing of technical knowledge, skills and expertise.

    The two countries have also established a cooperation protocol between the national archives of the two countries, which will shape extensive bilateral cooperation in this field including restoration and preservation of archival material.

    Another MoU focuses on cooperation in the field of heritage and museums. This would foster engagement between the two countries aimed at supporting of the Maritime Heritage Complex at Lothal, Gujarat.

    According to the MEA, agreement has also been signed on interlinking of the instant payment platforms – UPI (India) and AANI (UAE). This will facilitate seamless cross-border transactions between the two countries. This follows the MoU on interlinking payment and messaging systems signed in July last year during Hon’ble PM’s visit to Abu Dhabi.

    Another agreement on inter-linking domestic debit and credit cards – RuPay (India) with JAYWAN (UAE) has been signed. It is an important step in building financial sector cooperation, this will enhance the universal acceptance of RuPay across the UAE.

    Prime Minister Modi congratulated UAE President Al Nahyan on the launch of UAE’s domestic card, JAYWAN, which is based on the digital RuPay credit and debit card stack. The leaders witnessed a transaction made using the JAYWAN card.

    The leaders also discussed the strengthening of the energy partnership. They appreciated that in addition to the UAE being among the largest sources of crude and LPG, India is now entering into long-term contracts for LNG, the MEA statement read.

    Ahead of the visit, RITES Limited signed an agreement with Abu Dhabi Ports Company and Gujarat Maritime Board with Abu Dhabi Ports Company. These would help in building port infrastructure and further enhance connectivity between the two countries. (With ANI Inputs)

  • UPI Payment Services Launched In Sri Lanka, Mauritius; PM Modi Attends Virtual Ceremony

    PM Modi has called it a special day for digital connectivity between India, Sri Lanka and Mauritius. “

  • BHIM Payments App Offers Up To Rs 750 Cashback: Here’s How To Avail It |

    New Delhi: Looking to save some extra cash while making payments? Well, look no further! The BHIM payments app is here with some alluring cashback offers that are bound to make your transactions even more rewarding. With a limited-time offer on the table, users have until March 31, 2024, to grab these deals and enjoy some extra cash in their pockets.

    As we dive into the details, remember that combining two different cashback offers is the key to unlocking the full Rs 750 reward. Let’s break it down for you. (Also Read: Did You Know India’s Youngest Billionaire Is Only 27 Years Old? Know All About Him)

    Flat Rs 150 Plus Rs 600 Cashback Offers: How To Claim?

    For those who enjoy dining out or travelling, the BHIM app is offering a flat cashback of Rs 150. Simply make transactions exceeding Rs 100 for food and travel expenses through the app, and receive a flat Rs 30 cashback each time. (Also Read: Why RBI Took Action Against Paytm Payments Bank? Check What Governor Shaktikanta Das Says)

    Whether it’s booking railway tickets, taking cab rides, or paying restaurant bills via the merchant UPI QR code, you can earn up to Rs 150 in cashback. Just remember to claim this offer at least five times to unlock the full amount.

    In addition, Rupay credit cardholders can link their cards to the BHIM App and unlock a whopping Rs 600 cashback offer.

    This includes Rs 100 cashback on the first three transactions exceeding Rs 100 each, followed by an extra Rs 30 cashback on the subsequent 10 transactions exceeding Rs 200 each month. Make sure to complete all these transactions to enjoy the full Rs 600 cashback reward.

    1 Percent Cashback On Fuel Payments

    But wait, there’s more! BHIM App is also offering the Urja 1 percent scheme, giving users a flat 1 percent cashback on all fuel payments, be it petrol, diesel, or CNG.

    Moreover, this benefit extends to utility bill payments such as electricity, water, and gas bills, provided the transaction amount is Rs 100 or more. Enjoy the convenience of cashback directly credited to your primary bank account linked to the BHIM app.

    Deadline

    These enticing cashback offers on the BHIM App are available until March 31, 2024.

  • Many nations interested in India’s UPI: PM Modi in ‘Mann Ki Baat’ deal with

    By way of PTI

    NEW DELHI: Highlighting the rustic’s virtual strides, High Minister Narendra Modi on Sunday stated many nations of the sector are interested in India’s UPI.

    Addressing the 98th Version of ‘Mann Ki Baat’ radio programme, PM Modi remarked that the UPI (Unified Bills Interface) device and e-Sanjeevani App are shining examples of the ability of Virtual India.

    “Many nations of the sector are drawn against India’s UPI. Just a few days in the past, UPI-PayNow Hyperlink has been introduced between India and Singapore. Now, other people of Singapore and India are moving cash from their cellphones in the similar manner as they do inside of their respective nations,” he stated.

    Modi stated the rustic has noticed that on the time of the Covid-19 pandemic, the eSanjeevani App has proved to be a perfect boon for the folk. This can be a shining instance of the ability of Virtual India.

    “Via this app, teleconsultation, this is, whilst sitting a ways away, thru video convention, you’ll be able to seek the advice of a physician about your sickness. Until now, the selection of teleconsultants the use of this app has crossed the determine of 10 crore. This superb bond between a affected person and a physician is a large fulfillment. For this fulfillment, I congratulate all of the docs and sufferers who’ve availed of this facility. It is a dwelling instance of the way the folk of India have made era part of their lives,” the PM stated.

    Right through the programme, High Minister spoke with Dr Madan Mani from Sikkim. He additionally spoke to Madan Mohan, a resident of Chandauli district of Uttar Pradesh who shared his enjoy as a affected person who were given the good thing about teleconsultation by way of the e-Sanjeevani App.

    High Minister additional spoke about Indian toys and story-telling bureaucracy in ‘Mann ki Baat’.

    He stated voters have made ‘Mann Ki Baat’ a gorgeous platform as an expression of public participation.

    He stated, “In Mann ki Baat once we referred to Indian toys. My fellow voters have promoted this too, readily. In this day and age Indian toys have transform this type of craze that their call for has higher even in overseas nations. After we spoke of the Indian style of story-telling in ‘Mann ki Baat, their repute additionally reached all over the place. Folks began getting interested in the Indian story-telling style increasingly.”

    ‘Mann ki Baat’ is a per 30 days deal with, aired on All India Radio at the ultimate Sunday of each and every month, in which High Minister Narendra Modi interacts with countrymen. 

    NEW DELHI: Highlighting the rustic’s virtual strides, High Minister Narendra Modi on Sunday stated many nations of the sector are interested in India’s UPI.

    Addressing the 98th Version of ‘Mann Ki Baat’ radio programme, PM Modi remarked that the UPI (Unified Bills Interface) device and e-Sanjeevani App are shining examples of the ability of Virtual India.

    “Many nations of the sector are drawn against India’s UPI. Just a few days in the past, UPI-PayNow Hyperlink has been introduced between India and Singapore. Now, other people of Singapore and India are moving cash from their cellphones in the similar manner as they do inside of their respective nations,” he stated.

    Modi stated the rustic has noticed that on the time of the Covid-19 pandemic, the eSanjeevani App has proved to be a perfect boon for the folk. This can be a shining instance of the ability of Virtual India.

    “Via this app, teleconsultation, this is, whilst sitting a ways away, thru video convention, you’ll be able to seek the advice of a physician about your sickness. Until now, the selection of teleconsultants the use of this app has crossed the determine of 10 crore. This superb bond between a affected person and a physician is a large fulfillment. For this fulfillment, I congratulate all of the docs and sufferers who’ve availed of this facility. It is a dwelling instance of the way the folk of India have made era part of their lives,” the PM stated.

    Right through the programme, High Minister spoke with Dr Madan Mani from Sikkim. He additionally spoke to Madan Mohan, a resident of Chandauli district of Uttar Pradesh who shared his enjoy as a affected person who were given the good thing about teleconsultation by way of the e-Sanjeevani App.

    High Minister additional spoke about Indian toys and story-telling bureaucracy in ‘Mann ki Baat’.

    He stated voters have made ‘Mann Ki Baat’ a gorgeous platform as an expression of public participation.

    He stated, “In Mann ki Baat once we referred to Indian toys. My fellow voters have promoted this too, readily. In this day and age Indian toys have transform this type of craze that their call for has higher even in overseas nations. After we spoke of the Indian style of story-telling in ‘Mann ki Baat, their repute additionally reached all over the place. Folks began getting interested in the Indian story-telling style increasingly.”

    ‘Mann ki Baat’ is a per 30 days deal with, aired on All India Radio at the ultimate Sunday of each and every month, in which High Minister Narendra Modi interacts with countrymen. 

  • Virtual transactions will quickly exceed money in India: PM Modi

    By way of PTI

    NEW DELHI:  Top Minister Narendra Modi on Tuesday expressed hope that virtual transactions will quickly surpass money as Unified Bills Interface (UPI) is increasingly more changing into probably the most most well-liked fee mechanism within the nation.

    Modi after the release of the cross-border connectivity between the UPI and PayNow of Singapore mentioned about 74 billion transactions amounting to greater than Rs 126 trillion, which is roughly 2 trillion Singapore dolla, was once performed via UPI in 2022.

    “Many mavens are estimating that very quickly India’s virtual pockets transactions are going to overhaul money transactions,” he mentioned.

    A lot of transactions by means of UPI display that this indigenously designed fee device could be very protected, he mentioned.

    Modi along side his Singaporean counterpart Lee Hsien Loong witnessed the release of cross-border connectivity between the UPI and PayNow of Singapore by means of video conferencing.

    The primary transaction was once performed by way of Reserve Financial institution of India Governor Shaktikanta Das and Financial Authority of Singapore (MAS) managing director Ravi Menon.

    The linkage of those two fee programs would permit citizens of each international locations in sooner and cost-efficient switch of cross-border remittances.

    It’ll additionally lend a hand the Indian diaspora in Singapore, particularly migrant employees and scholars, via prompt and cheap switch of cash from Singapore to India and vice-versa.

    India has emerged as one of the most fastest-growing ecosystems for fintech innovation.

    A key emphasis of the Top Minister has been on making sure that the advantages of UPI don’t seem to be restricted to India handiest however prolong to different international locations as smartly.

    NEW DELHI:  Top Minister Narendra Modi on Tuesday expressed hope that virtual transactions will quickly surpass money as Unified Bills Interface (UPI) is increasingly more changing into probably the most most well-liked fee mechanism within the nation.

    Modi after the release of the cross-border connectivity between the UPI and PayNow of Singapore mentioned about 74 billion transactions amounting to greater than Rs 126 trillion, which is roughly 2 trillion Singapore dolla, was once performed via UPI in 2022.

    “Many mavens are estimating that very quickly India’s virtual pockets transactions are going to overhaul money transactions,” he mentioned.

    A lot of transactions by means of UPI display that this indigenously designed fee device could be very protected, he mentioned.

    Modi along side his Singaporean counterpart Lee Hsien Loong witnessed the release of cross-border connectivity between the UPI and PayNow of Singapore by means of video conferencing.

    The primary transaction was once performed by way of Reserve Financial institution of India Governor Shaktikanta Das and Financial Authority of Singapore (MAS) managing director Ravi Menon.

    The linkage of those two fee programs would permit citizens of each international locations in sooner and cost-efficient switch of cross-border remittances.

    It’ll additionally lend a hand the Indian diaspora in Singapore, particularly migrant employees and scholars, via prompt and cheap switch of cash from Singapore to India and vice-versa.

    India has emerged as one of the most fastest-growing ecosystems for fintech innovation.

    A key emphasis of the Top Minister has been on making sure that the advantages of UPI don’t seem to be restricted to India handiest however prolong to different international locations as smartly.