India now makes faster payments than any other country with the quick growth of UPI, and the usage of other instruments, including debit and credit cards, is on the decline, according to an IMF note.

Digital India has not remained a mere government programme but has also become a people's movement, Finance Minister Nirmala Sitharaman said on Tuesday. In a post on X, she said 'Digital India' is central to building an 'Aatmanirbhar Bharat'.

The digital transformation has been a game-changer for the country, promoting financial inclusion and innovation, PM Modi said.

The UPI system is set to implement other important changes from August in order to improve its performance.

There has been more than 90 times rise in direct benefit transfer (DBT) in just a decade under the Prime Minister Narendra Modi-led government, Finance Minister Nirmala Sitharaman said on Thursday.

The Finance Ministry on Wednesday said that "speculation and claims that the MDR (merchant discount rate) will be charged on UPI transactions are completely false, baseless, and misleading".

This comes as banks and payment service providers have raised concerns about the rising cost of handling high-value digital transactions.

UPI (Unified Payments Interface) services in India were severely disrupted this Saturday morning, leaving users incapable of making digital transactions, the third time within a month. The snag hits individuals and businesses across the country, disrupting an important daily service for smooth money transfers, which has become a common feature in Indian money transact...

UPI Payments Down Today: UPI experienced a major disruption, affecting digital transactions nationwide. Users reported issues with Google Pay, Paytm, and other platforms, marking the third outage in recent days.

South Korea is set to begin testing the Digital Won CBDC for real-world transactions in April, according to local reports citing the Bank of Korea (BoK). The programme will evaluate blockchain technology’s role in finance while allowing the BoK to assess its potential for reshaping the country’s fintech ecosystem.

The RBI on Friday asked banks to use only the '1600xx' phone numbering series to call customers for transactional purposes with a view to preventing financial fraud.

India has pushed back the implementation of market share caps for UPI apps like Google Pay and PhonePe. According to the proposal, first made in November 2020, digital payment firms would not be allowed to hold more than 30 percent share of the volume of transactions processed via India's popular unified payments interface (UPI).

PAN 2.0 is a secure and upgraded financial identity system introduced by India’s Income Tax Department. This innovative card offers faster issuance, digital updates, Aadhaar integration, and QR code-based identity verification. Our guide explains the step-by-step process to apply via NSDL or UTIITSL, eligibility criteria, required documents, and the numerous benefit...

Recently, the Federation Council, the Upper House of the Russian Parliament, approved a new bill that outlines the taxation framework for cryptocurrencies. This bill classifies virtual digital currencies as property.

This integration is expected to reduce queues at both NCRTC and DMRC stations and encourage digital transactions and environmentally friendly travel options.

The European Banking Authority (EBA) has directed payment service providers to screen all firms seeking to register their businesses in EU member states. Additionally, EU lawmakers have mandated that virtual digital asset service providers (VASPs) conduct comprehensive due diligence, including detailed risk assessments.

Paytm, the digital payments company, introduced a new unified payments interface (UPI) feature on Wednesday. The new feature, dubbed UPI statement download, allows users to get a detailed statement of their transaction history for the desired period. The service is available to all users without any cost. The company highlighted that the feature will enable users to b...

The Unified Payments Interface (UPI)-based digital transactions continued to surge and in the month of October, the country saw 16.58 billion transactions worth Rs 23.5 lakh crore, the highest numbers since the UPI became operational in April 2016.

The Unified Payments Interface (UPI) has transformed how people handle payments in India. It has made digital transactions as easy as tapping your smartphone.

SWIFT will trial live transactions of tokenised assets and digital currencies next year. Banks and asset managers hope that by using digital units - usually blockchain-based tokens that represent a share of the underlying asset - trading can be quicker, cheaper and more efficient, including by cutting out middlemen involved in many transactions.

HMD 105 4G and HMD 110 4G were launched in India as the latest feature phones by Human Mobile Devices. They come in multiple colour options and offer YouTube access. The HMD 105 4G and HMD 110 4G have a preloaded UPI application that can be used for digital transactions without internet access. The HMD 105 4G and HMD 110 4G pack a 1,450mAh battery and have wireless FM...

Surpassing world's leading digital payments platforms, India's Unified Payments Interface (UPI) processed nearly Rs 81 lakh crore transactions in the April-July period this year, which is a staggering 37 per cent increase (year-on-year).

Speaking at the Indian Diaspora event in Warsaw on Wednesday, Prime Minister Narendra Modi highlighted the significance of digital transactions by drawing a comparison.

The Reserve Bank of India (RBI) recently announced an increase in limit of Unified Payments Interface (UPI) transactions for tax payments. The decision was made as a part of RBI’s Monetary Policy announcement last week. With this, users can now transact up to Rs. 5,00,000 while settling their tax liabilities. Earlier, this limit was kept at Rs. 1,00,000.