Home Ministry issues alert against illegal digital payment gateways used by cybercriminals
India | October 28, 2024 21:59 ISTSome of the payment gateways identified during operation are PeacePay, RTX Pay, PoccoPay, RPPay and others.
Some of the payment gateways identified during operation are PeacePay, RTX Pay, PoccoPay, RPPay and others.
As digital transactions have become more common, so have cases of cyber fraud. Cybercriminals are constantly devising new tactics to defraud people. If you engage in digital transactions, be mindful of these 5 precautions.
The Reserve Bank of India (RBI) has raised the transaction limits for UPI Lite and UPI 123PAY, increasing accessibility to digital payments. The UPI Lite limit has risen from Rs 500 to Rs 1,000, while UPI 123PAY limits have doubled to Rs 10,000.
Adoption of UPI is driving the growth of digital payments in India and leading to global collaborations due to several contributing factors.
Julio Velarde, Governor of the Central Reserve Bank of Peru calls it a significant step towards strengthening and modernising the Peruvian payments system by expanding access to digital payments.
Paytm has secured a third-party application provider license amidst regulatory challenges faced by its banking unit. This license enables Paytm to continue offering seamless transactions through India's unified payment interface (UPI), ensuring uninterrupted services for its users.
Amazon Pay, a leading digital payments platform under Amazon India, has received authorisation from the Reserve Bank of India (RBI) to operate as a Payment Aggregator (PA). This accreditation allows Amazon Pay to join a prestigious group of companies, including Zomato, Google Pay, Zoho, and others.
With an aim to check digital fraud, the government of India has suspended 70 lakh mobile numbers on account of suspicious transactions.
PM Modi said that UPI payments have increased in the past months and urged people to only make UPI payments for the upcoming month and share their experience.
Das also said that the RBI is committed to supporting the growth of the fintech industry and has taken several measures to do so, such as the introduction of the Regulatory Sandbox and the Payment Initiation Services framework.
Digital India: As per the data, India in the year 2022 accounted for 46 per cent of the global real-time payments, adding that the digital payment transactions in India are more than the other four leading countries combined.
PM Modi on digital payments system: "Many experts are estimating that very soon India's digital wallet transactions are going to overtake cash transactions," PM Modi said.
The activities to be taken up during the period up to 2025 as part of Vision 2025 are captured across five anchor goalposts of integrity, inclusion, innovation, institutionalisation and internationalisation, the Payments Vision 2025 document said.
It may be inconvenient to have to wait 10 seconds for your OTP when making online payments. This, however, is one of the most secure authentication methods available to consumers.
PayNow is the fast payment system of Singapore which enables peer-to-peer funds transfer service.
PM Modi has always championed digital initiatives. Over the years, several programmes have been launched to ensure that the benefits reach its intended beneficiaries in a targeted and leak-proof manner, with limited touch points between the government and the beneficiary.
From April 1, the company will focus all its attention on enabling more international sales for Indian businesses, and shift focus away from its domestic products in India.
Google Pay is among the ones that are widely used to complete digital payment transactions. Here's a list of all the banks that Google Pay supports with their UPI transaction limit and UPI daily limit for digital transactions.
To take highly popular Unified Payments Interface (UPI), RuPay to more countries, the National Payments Corporation of India (NPCI) has announced the launch of a subsidiary for its international growth ambitions.
Not allowing delivery agents to enter, going digital with payments, accommodating vendors inside premises and monitor entries of residents are among the to-do things for gated communities in the unlock phase.
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