Eiffel Tower is the first merchant to offer UPI payments in France, and the service will soon be extended to other merchants in the tourism and retail space across France and Europe.
The RBI imposed restrictions, prohibiting the bank from accepting new deposits or conducting credit transactions after February 29.
PM Narendra Modi and Sri Lankan President Ranil Wickremesinghe signed an agreement in 2023 on Unified Payments Interface acceptance in Sri Lanka during Wickremesinghe's two-day visit to India.
The Reserve Bank of India (RBI) has also raised the UPI transaction limit for hospitals and educational institutions from Rs 1 lakh to Rs 5 lakh. The RBI also plans the nationwide introduction of UPI ATMs, allowing cash withdrawal by scanning a QR code.
NPCI has set a deadline of December 31 to deactivate inactive UPI IDs, urging users to check and update their linked mobile numbers to prevent unintended fund transfers and enhance digital payment security.
At present, a user can send up to Rs 5,000 within a 24-hour period after creating a new UPI account. Once the account is activated, NEFT users have the flexibility to transact a maximum amount of Rs 50,000 within the span of 24 hours, whether in a single transaction or through multiple instalments.
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.
At these KIOSK centres, foreign guests have to make payments as per their requirement, after which the bank creates a PPI which is a ‘Prepaid Instrument Wallet’ on their smartphones.
Google Pay comes with advanced fraud prevention technology for secured payments and helps to safeguard users with real-time recognition of sceptical transactions. Here's how you can make a secured payment experience from your device.
Marles, who witnessed the historic India-Australia Cricket World Cup in Narendra Modi Stadium in Ahemadabad, was joined by the 14-18-year-old young cricket players on the stadium premises. Also, he relished several street foods and paid the payment digitally via UPI method.
The National Payments Corporation of India (NPCI) has instructed apps like Google Pay, Paytm, and PhonePe to deactivate inactive UPI IDs and numbers by December 31.
UPI is a problem solver many users across the country are going cashless and making payments with the help of the same. If you want to start with your UPI payment, then follow the steps below to activate it.
Highlighting India's distinct progress, Shambaugh mentioned that India has effectively advanced bilateral links between its Unified Payments Interface system and those of other nations, such as Singapore and the United Arab Emirates.
The Ministry underscored that the development will facilitate the growth of e-commerce and digital transactions in the UAE, bolster financial inclusion, support the UAE's digitisation agenda, increase alternate payment options, reduce the cost of payments, and enhance the UAE's competitiveness.
Over 70 per cent of consumers anticipate online festive shopping events to purchase electronic items. Furthermore, more than 75 per cent of consumers are excited about attractive bank offers and no-cost EMIs, which make their purchases more convenient and rewarding.
In August, UPI-based payments in India achieved a milestone by surpassing 10 billion monthly transactions for the first time, as reported by the National Payments Corporation of India (NPCI). Monthly transaction counts on UPI reached 10.24 billion, with a net transaction value of Rs 15.18 trillion.
The Netherlands and India have wide-ranging economic ties and over 350 Dutch companies do business here, said Netherlands PM.
With its ability to facilitate offline transactions, UPI Lite X addresses a critical need for seamless payments in areas with limited connectivity. As the feature undergoes testing, users can anticipate a more inclusive and efficient payment experience soon.
Presently, the UPI ATM is accessible through the BHIM UPI app, with plans to integrate it into other apps like Google Pay, PhonePe, and Paytm.
In another breakthrough, UPI ATM, showcased at the Global Fintech Fest in Mumbai, allowed cardless cash withdrawals.
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