NCR Corporation, the maker of automated teller machines (ATMs) said that it has launched the first interoperable cardless cash-withdrawal (ICCW) solution based on the Unified Payments Interface (UPI) platform. City Union Bank has joined hands with NCR to install this new facility, the lender said. The bank has already upgraded its 1,500 ATMs to allow […]Continue Reading..
In a bid to check banking fraud, the Reserve Bank of India had a couple of months ago decided to introduce the ”positive pay system” for cheque, under which re-confirmation of key details may be needed for payments beyond Rs 50,000. This Cheque payments rule of positive pay system will come into effect from January 1 2021. […]Continue Reading..
The central authorities is working a number of schemes for farmers. Among these, there is a wonderful scheme Kisan Credit Card, through which low interest loans are supplied for farming work at a cheaper rate of interest. If you haven’t made a Kisan bank card till from time to time you have a full month […]Continue Reading..
The National Payment Corporation of India (NPCI) has said that its Unified Payments Interface (UPI) may not function optimally between 1 AM and 3 AM for the next couple of days. The NPCI, through a tweet, informed the users that its UPI platform will be under an upgradation process for the next few days. “To […]Continue Reading..
At least eight Indian banks — mostly public sector lenders — suffered a high rate of failure in digital transactions during October as online payments surged through the festive season, data from the National Payments Corporation of India (NPCI) shows. The technical failure rate of over 3%, for the second successive month, is leading to […]Continue Reading..
In order to check banking fraud, the Reserve Bank of India has decided to introduce from January 1, 2021, the ‘positive pay system’ for cheque, under which re-confirmation of key details may be needed for payments beyond Rs 50,000. Availing of this facility would be at the discretion of the account holder. However, banks may […]Continue Reading..
WhatsApp has joined hands with Indian banks to bring banking services to the rural areas in India. WhatsApp also has plans to provide financial services including the insurance and pensions to the low wage workers. The Facebook-owned messaging app has partnered with banks including ICICI Bank and HDFC Bank. “We now want to open up […]Continue Reading..
Google India Digital Services Private Limited has informed Delhi High court that it merely works as a Third Party Application Provider (TPAP) to partner banks to allow for payments through the UPI infrastructure as provided by NPCI. It has been submitted that in so far as the UPI payment system is concerned, it is the […]Continue Reading..
Wrongly attributed to the RBI, some posts on social media have claimed that Google Pay is not protected by the law since the app is unauthorized. However, NPCI today came out with a clarification regarding Google PAY stating, “We have come across some quotes on social media which suggest that transferring money through Google Pay is […]Continue Reading..
National Payment Corporation of India (NPCI) said that it has launched an artificial intelligence (AI) based chatbot, PAi, to create awareness around its products like FASTag, RuPay, UPI, AePS on a real time basis. This is yet another NPCI’s initiative to improve digital financial inclusion in India. The AI virtual assistant, PAi is available round the clock […]Continue Reading..