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Google Pay edges ahead in UPI sweepstakes

Tuesday, June 4, 2019, 3:05 PM

Google Pay, the payments offering from technology giant Google has consolidated its lead in the Unified Payments Interface (UPI) sweepstake having recorded more than 240 million transactions in May, according to two bankers in the know of the matter. The Flipkart-owned PhonePe which clocked around 230 million UPI payments last month was followed by digital payments major Paytm at 200 million.
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UPI transactions fall 6% in May

Monday, June 3, 2019, 12:10 PM

Payments made through the Unified Payments Interface, an interbank fund transfer system, have fallen 6% month-on-month in May against April, the second consecutive decline in terms of number of transactions. As per the data shared by the National Payments Corporation of India(NPCI), UPI transactions reached 733 million in May, as against 781 million in April and around 799 million in March, the highest ever.
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NPCI cuts UPI usage fees to promote wider adoption

Tuesday, April 2, 2019, 11:27 AM

The National Payments Corporation of India (NPCI), which runs the Unified Payments Interface (UPI) network, has slashed usage fees for small transactions to expand the system's adoption among banks and payment service providers (PSPs). For UPI transactions up to Rs.1,000, the charge has been cut to 10 paise from 25 paise, NPCI said in a note to banks and PSPs.

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