UPI transactions top 10 bn in Aug; PM Modi says ‘exceptional news’
UPI transactions see 61% year-on-year growth in volume terms, while 47% YoY growth in terms of the transaction amount
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“I didn’t raise money for the first 7 years. Raising money is a light and sound show”
“Investors see who you are, your team. It’s like selling a dream. They don’t give money to your business, they give you the money because you are an incredible guy and have a great team.”
Digital fraud attempts from India up by 28%: Report
According to a report by American consumer credit reporting agency TransUnion, the highest percentage of suspected digital fraudulent transactions originated from Mumbai, Delhi, and Chennai.
How UPI is making India’s digital economy boom
The instant real-time payment system reports a threefold jump in volume and value over the last fiscal as customers opt for its convenience amid the pandemic.
The ‘new normal’ for financial services
According to a Capgemini Research Institute survey, while the pandemic propelled digital adoption, physical channels continue to remain significant for financial services consumers.
China’s cashless challenge to the West
The imperative to develop an answer to Alipay and WeChat Pay goes beyond national pride; the growth of a digital, cashless payment alternative has the potential to supplant national currencies.
PayU buys PaySense at a valuation of $185 million
Nexus Venture Partners-backed PaySense will be merged with PayU’s consumer lending business LazyPay.
HDFC Bank’s digital outage continues
Customers face disruption in digital banking services. The bank tweeted that it is fixing the technical glitch.
Will banks seize the $32-bn payments opportunity?
Banks that adopt innovative business models, use the latest technology, and focus on providing value-added services stand a chance, says a survey by Accenture.
PhonePe banks on trust
Walmart-backed digital payments platform PhonePe aims to turn profitable soon by leveraging its network of retail customers and merchants to offer a range of products and services.
