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.

A turf war is breaking out in the vast world of digital payments - and the incumbents are suddenly on defense.

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.

PhonePe announced on Friday that it is planning to launch a Unified Payments Interface (UPI) solution for feature phone users in India. The digital payments and financial services company highlighted that the payment solution will be built on the UPI 123Pay technology. The service will be built on conversational engagement platform Gupshup’s GSPay tech stack.

Apple Pay experienced a significant global outage on May 16, 2025, affecting over 745 million users worldwide and causing payment failures and difficulties transferring funds.

Travel vlogger Lee Veu shared the clip from the streets of Agra, near the Taj Mahal, where he found himself waiting for change after a purchase.

As the video progressed, people began noticing the posters. To Sarthak Sachdeva's astonishment, many scanned the QR codes and sent money.

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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.

Mastercard has teamed up with Kraken to enable card-based crypto payments for day-to-day purchases. In the coming weeks, Kraken will be launching physical and digital debit cards to facilitate payments through crypto. 

Binance has partnered with Worldpay to make digital assets more accessible via widely used payment platforms. Through this collaboration, Binance users will be able to purchase cryptocurrencies using their Apple Pay and Google Pay accounts.

The National Bank of Kazakhstan and the Central Bank of the UAE (CBUAE) have signed an MoU to collaborate on fintech, cybersecurity, and CBDCs, focusing on how UAE's financial hubs leverage blockchain and crypto for payments and transactions.

Digital frauds including in UPI payments have doubled in the last one year, exposing the growing vulnerability of the country's digital payment ecosystem.

Donald Trump's World Liberty Financial will launch a dollar-pegged USD1 stablecoin. USD1 will be launched on the Ethereum and Binance Smart Chain blockchains - digital ledgers that underpin the movement of crypto coins.

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.

Ms Fischer has discovered several innovative features that she believes would greatly benefit her home country.

Uber has shifted its Auto service to a cash-only model, abandoning digital payments to reduce friction between drivers and riders.

X Money was introduced by Elon Musk's X platform on Wednesday as a new digital wallet and payments service. The new X Money service will allow users to send and receive P2P payments, transferring funds from their bank to a digital wallet and then to another wallet, or directly using their debit card. Partnering with Visa, X Money aims to compete with apps like Cashapp...

The share of the Unified Payments Interface in India's digital payments has surged from 34 per cent in 2019 to an impressive 83 per cent in 2024, with a remarkable CAGR of 74 per cent over the last five years, according a RBI report.

Undone by a paratha. And the digital payments infrastructure. That was how Shariful Islam Shehzad, the man accused of stabbing Saif Ali Khan six times - in a suspected attempted burglary incident - was tracked down and arrested by Mumbai Police.