The landscape of digital payments in India is evolving at a breakneck pace. With the introduction of UPI (Unified Payments Interface), India has become a global leader in real-time payment systems.

The Reserve Bank of India (RBI) has issued guidelines permitting cooperative banks to act as merchant acquirers on the ...

Digital payments across India recorded a double-digit jump of 11.1 per cent year-on-year (YoY) as on September 2024, ...

Starting February 1, 2025, some users of the Unified Payments Interface (UPI) in India may encounter difficulties while ...

In an effort to standardise the process of generating Unified Payments Interface (UPI) transaction IDs, the National Payments ...

The NPCI this month stated that while most participants in the UPI ecosystem have already complied with the technical standards, a few continue to use non-compliant formats. To address this, the ...

NPCI will disallow special characters in UPI transaction IDs to standardise processes. This comes as UPI transactions hit record levels.

NPCI has said that from February 1 users can’t use special characters in Unified Payments Interface (UPI) identity.

Unified Payments Interface (UPI) apps will no longer process transactions with special characters in their transaction IDs.

Digital payment mechanisms offer significant potential to empower rural and semi-urban borrowers. However, their success depends on addressing underlying infrastructural and educational challenges.