payments - World News

RBI’s new UPI rule change for PPIs: Soon, you can use money in PhonePe, Amazon Pay wallets to pay via any UPI app | Business – Times of India

getworldnews1 year ago08 mins

UPI rule change for PPIs: Unified Payments Interface (UPI) and wallets like Paytm, PhonePe, and Amazon have become integral to our daily transactions. Whether it’s paying for groceries, bills, or other expenses, we rely on these platforms regularly. However, a common complaint among users is the limited flexibility in using wallet funds for UPI transactions.Typically,…

RBI Not Planning Harsher Rules to Curb Fintech Sector, Official Says

getworldnews1 year ago03 mins

India’s banking regulator doesn’t intend to impose drastic measures on the country’s fintech sector, a senior official said, weeks after it stunned investors by abruptly suspending much of the operations of Paytm Payments Bank, founded by high-flying billionaire Vijay Shekhar Sharma. There are “no harsher measures coming on fintech,” P. Vasudevan, an executive director in…

Paytm Signs New Banking Partner; RBI Extends Unit Wind-Down Date

getworldnews1 year ago04 mins

India’s Paytm Payments Bank has been given more time by the central bank to wind down its operations, while its parent company has signed on a new banking partner to try to keep some of its popular products running and survive its current crisis. The Reserve Bank of India (RBI) in January ordered Paytm Payments…