Unified Payments Interface Current Affairs, GK & News

UPI transactions at record 1.49 billion in July

In the first such case, the Unified Payments Interface based transactions have reached the highest ever tally of 1.49 billion in the month of July whereas the total value of transactions has reached the lifetime high of Rs 2.9 lakh crore. This proves more people trust this platform and also the individual transaction value is ..

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NPCI launched Pai: An Artificial Intelligence Virtual Assistant

On May 27, 2020, the National Payment Corporation of India launched Artificial Intelligence based chatbot called Pai. The Chatbot aims to increase financial inclusion in India. Highlights The PAI can be accessed 24/7. It provides information about NPCI products. The queries can be sent by the users through text or voice. In order to send ..

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Benchmarking India s Payment Systems

The Reserve Bank of India (RBI) report “Benchmarking India s Payment Systems” provides a comparison of the payment ecosystem in India with the payment systems and usage trends in other major countries. Findings of the Report Even though there was robust growth in the volume of retail electronic transactions amid a strong regulatory framework, India ..

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ETMONEY becomes India’s first financial services app to integrate UPI

ETMONEY, India’s largest app for financial services has integrated UPI (Unified Payment Interface) as a payment method on its platform as it looks to double its monthly user base by the end of the year. The integration of UPI will simplify the mutual fund payment experience for millions of ETMONEY users as the company continues ..

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India Post Payments Bank (IPPB) ties up with FSS to create payments network for unorganized retail

The India Post Payments Bank (IPPB) has partnered with Financial Software and Systems (FSS) to create payments network for unorganized retail. FSS is a payments technology company that enables micro-merchants to accept payments online, or via Unified Payments Interface (UPI), Quick-Response (QR) codes, Aadhaar and IPPB accounts. FSS will also provide merchant management and settlement ..

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