India in need of simplifying user verification process to bolster digital payments
While India has witnessed a surge in digital payments, the country’s KYC procedure continues to be cumbersome, especially for the elderly, poor, and migrants.
Latest Unified Payments Interface News
India’s UPI expands partnership in Paris ahead of Olympic Games
India’s NIPL, a wholly-owned subsidiary of the NPCI, has partnered with Lyra to enable acceptance of the Unified Payments Interface at Galeries Lafayette’s flagship store in Haussmann, Paris.
From street vendors to large stores, Indian merchants adopt digital payments: survey
India is seeing a spike in the adoption of digital payments among merchants operating small stores and consumers paying items valued over $6, but the rise in fraud may hamper this development.
India’s NPCI, QNB Group to introduce UPI payments in Qatar
Utilizing UPI payments in Qatar through the QNB merchant network is expected to significantly benefit Indian tourists visiting the country.
India’s oldest metro service rolls out UPI payment-based ticketing system
India's oldest metro adopts a UPI payment-based ticketing system, making travel more convenient among locals and speeding up the nation's digitalization by reducing cash reliance.
India’s UPI digital payment makes foray into UAE
Indians traveling to the UAE will soon be able to utilize the local UPI in POS terminals across the Gulf region, showcasing the world's growing acceptance of the system.
India’s retail CBDC usage drops amid growing UPI popularity
With more locals utilizing UPI, India is struggling to promote its CBDCs, with both retail and wholesale CBDCs taking a plunge in usage, but the RBI has no plans of dropping these initiatives.
Reserve Bank of India’s CBDC enhancements aim to boost adoption
The Reserve Bank of India is planning upgrades for its digital rupee to encourage wider adoption, including offline payments and integration with Unified Payments Interface.
India’s YES Bank integrates UPI with digital rupee app for enhanced features
YES Bank's UPI integration with RBI's CBDC app advances digital rupee adoption, offering seamless transactions, expanding reach, and setting the stage for further banking transformation.
India explores cross-border payment functionality with Singapore
The UPI-PayNow integration will provide a seamless cross-border transaction between India and Singapore, with citizens of both nations being able to make payments using phone numbers or VPA.
Indian digital currency exchanges asking NPCI to restore UPI services: report
In April, NPCI issued a notice that it was unaware of any digital currency exchanges using the UPI system. The statement was given shortly after Coinbase launched its services in India.
India digital currency regulations aftermath: Frozen payments, Bitcoin brain drain, traders’ woes and more
Investors and traders are bearing the strict regulations on digital currency in India—with some transferring their digital currencies to overseas wallets and opening accounts abroad.