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Interoperable Internet banking system that benefits merchants to go live in 2024: RBI Governor

At present, internet banking transactions are processed through payment aggregatorsMumbai: Reserve Bank Governor Shaktikanta Das on Monday said an interoperable system for Internet banking will be launched in 2024.At present, internet banking transactions are processed through payment aggregators (PA),...

Digital payments rise 10.94% annually at September-end 2023: RBI data

The central bank announced the construction of a composite RBI-DPI in March 2018 as a base to capture the extent of digitisation of payments across the countryNew Delhi: Digital payments across the country registered a growth of 10.94% in...

Mandatory linking of e-invoice with e-way bill may cause operational disruption: Experts

The move was initiated after the mismatch in e-way bills and e-invoice statements was noticed in several casesKolkata: Mandatory linking of e-invoice with e-way bill, applicable from March 1 for certain types of transactions, may cause disruption in operation...

UPI major driving force in growth of digital payment: MoS Finance

UPI transactions have grown from 92 crore in 2017-18 to 8,375 crore in 2022-23 at a Compound Annual Growth Rate (CAGR) of 147% in terms of volumeNew Delhi: Unified Payments Interface (UPI) has been the major driving force in...

Amazon Pay launches sign language video KYC service

The service enables two-way video communication in sign-language between Amazon Pay employees and customers Bengaluru: Online payments processing service Amazon Pay has launched a video sign language know your customer (KYC) service for its hearing and speech impaired customers, the company...

Alternative payments account for 60% of e-commerce market in India: Report

Over the last five years, alternative payment solutions like Amazon Pay, Google Pay, and Paytm have consistently risen in popularity among Indian consumers Bengaluru: With a market-share of about 58%, alternative payment methods such as mobile and digital wallets have...

Digital payment via UPI spikes on person-to-merchant transaction growth: Report

The number of UPI transactions in January 2018 was 151 million, and it reached 9.3 billion in June 2023, primarily driven by the growth in P2M transactionsNew Delhi: Digital payment through Unified Payments Interface (UPI) has seen a multi-fold jump...

The offshoots: 12 startups founded by former Flipkart employees

From fitness to fintech, here are 12 diverse startup businesses founded by individuals who were once part of the Flipkart team Bengaluru: Flipkart is the model success story of an Indian e-commerce startup. The homegrown e-commerce platform Flipkart was founded...

Simpl introduces AI-powered checkout suite to minimise CoD losses

Simpl aims to replace CoD with an alternate system by working with ecosystem partners and through its AI-powered offerings Bengaluru: Checkout network Simpl has introduced artificial intelligence (AI) enabled checkout suite with an aim to reduce losses from cash on delivery...

Walmart ties up with payment company PingPong

International sellers selling on Walmart’s marketplace can now choose PingPong to receive their payments Bengaluru: Multinational retail corporation Walmart has partnered with online payment processing platform PingPong, the tech company said in a press release on Monday. International sellers selling on...
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Retail sales grow 8% y-o-y in March 2024: RAI Survey

According to the survey, sports goods reported a growth of 11% followed by apparel and beauty showing a growth...
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