Online Transaction

Digital transactions in India to grow threefold by 2028-29: Report

UPI, credit cards, QR codes adoption increasing but debit cards may be losing their sheen

No evidence of systems being compromised: Cryptocurrency platform WazirX

A 'multisig' or multisignature wallet is a crypto wallet that requires two or more private keys to unlock and withdraw funds

DoT allocates 160 as prefix for incoming calls for service, transaction

The Department of Telecom has allocated a separate 10-digit numbering series starting with 160 for service and transactional calls made by government, regulators and financial entities, according to an office memorandum issued on Tuesday. The 10-digit number series has been designed by the DoT in a manner that telecom subscribers will get an idea about calling entities as well as the telecom operator and the place from where it has originated. "It has been decided to allocate a separate numbering series 160 exclusively for service and transactional voice calls as per Telecom Commercial Communication Customer Preference Regulation (TCCCPR) 2018," the official note said.. The move is aimed at helping subscribers differentiate between calls made by government bodies and regulated entities from those made by fraudsters masquerading as government officials. The 10-digit number will be issued in 1600ABCXXX format for government and regulators where AB will show the code of telecom circle

Interoperability of internet banking system in 2024: RBI's Shaktikanta Das

Shaktikanta Das said there's considerable scope for expanding digital payments

UPI transactions decline marginally in February to Rs 18.28 trillion

In volume terms, transactions were seen at 12.10 billion, compared to 12.20 billion in January

Paytm likely to partner with four banks for enabling UPI transactions

The central bank has asked Paytm Payments Bank, the banking unit of Paytm to wind down its business by March 15, leading to disruption for the popular payment app

Got new debit/credit card? Here's what to do before 1st online transaction

Most banks now toggle off the control limit of a card at the time of issuance. To make online or offline transactions, the users must first enable the controls. Know how here

Expecting international transactions on ONDC soon: CEO Koshy

ONDC is working on a mechanism to enable merchants to make their products visible globally and expects international transactions on the platform soon, ONDC Managing Director and Chief Executive Officer T Koshy said here on Monday. "There is an interest... and we are enabling merchants to make their products visible globally. We expect to... formally inaugurate international transactions (on the ONDC) in the SME forum next week," Koshy said at the DPG Dialogue here. The ONDC model is meant to protect the interest of both buyers and sellers, Koshy said. "If I come on the platform as a buyer looking for a mobile phone, (a platform owner's) job is to look at the buyer's interest... "If you're a seller, the platform should try to say how to present yourself... in the best way... so that you are more appealing to the buyer network," Koshy said. The ONDC top boss also hinted at the possibility of exploring a collaboration with Bhashini, an AI-powered language translation platform. "As

Card payments in India to hit Rs 27.9 trillion mark in 2023: GlobalData

To drive card payments and reduce dependence on cash, the government had abolished merchant service fees on transactions with state-owned RuPay cards from January 2020.

PoS terminals and the future of digital payments

The offline unorganised segment will drive merchant payment digitisation with QR codes and sound boxes - devices with speakers that display alerts for merchants when transactions are processed

Govt expects 5-7 countries to sign up for India's tech stack by March

The government expects five to seven countries to sign up for adopting India-developed technology platforms like UPI and Aadhaar by March for accelerating digitisation, according to Union minister Rajeev Chandrasekhar. While speaking at India Stack Developer Conference, the minister said that the Prime Minister has decided to offer India technology platforms to countries to help them accelerate digitisation. "I expect by February-March, about 5-7 countries around the world to sign up (for adopting platforms)," Chandrasekhar said. The government plans to reach out to several countries to offer them technology stack (Aadhaar, UPI, Digi Locker, Co-Win, GeM, GSTN etc) as part of its responsibility as G20 Presidency and expects Indian startups and system integrators to gain from the exercise.

Nearly 80% reserved Railway tickets are sold online: Ashwini Vaishnaw

Minister of Railways, Communications and Electronic & Information Technology, Ashwini Vaishnaw in a written reply to a question in Lok Sabha said that about 80 per cent of railway reserved tickets are booked online.Vaishnaw said, "mobile application on various platforms is also available for booking reserved and unreserved tickets as well as provision of other railway services."The digitalisation of railway services and databases is an ongoing process."The information technology applications of Indian railways cater to transportation services (passenger and freight), fixed infrastructure (project, operations and maintenance), rolling stock (manufacture, operations and maintenance) and resource management (finance, materials and human resources)," he further added.Vaishnaw said that the digital initiatives and on-ground services are seamlessly integrated through well-documented instructions and manuals.

India has 350 mn digital payment users, count set to double by 2030: Report

India currently has around 350 million online transacting users across e-commerce, shopping, travel and hospitality, and OTT and the number is set to double by 2030, a new report showed on Wednesday

UPI transactions see 650% rise at semi-urban, rural stores: Report

The unified payments interface (UPI) transactions witnessed a meteoric 650 per cent rise at the semi-urban and rural stores in India this year, a report showed on Tuesday

A step-to-step guide to transferring Amazon Pay balance to bank account

Note, however, that you can only do this if you have completed your KYC

UPI processes over 7 bn transactions in Oct, record high since inception

Transactions on UPI amounted to Rs 12 trillion in October, a record high for the platform

Everything you want to know about tokenisation

For consumers, nothing has changed as token is just replacing the card details. Merchants do not have card details anymore and hence, if their sites are hacked, at best the hacker gets only the token

India saw 20.5 billion online transactions worth Rs 36 trillion in Q2FY22

India saw 20.57 billion online transactions worth Rs 36.08 trillion in the second quarter (Q2) this year, a report showed on Tuesday

Card-on-file tokenisation kicks in from Oct 1: Here's all you need to know

A tokenised card transaction is considered safer as the actual details of the card will not be shared with the merchant during transaction processing

Probe into Chinese loan apps: ED freezes Rs 46 cr kept in payment gateways

Easebuzz, Razorpay, Cashfree and Paytm impacted