VARINDIA IT MAGAZINE

RuPay ties up with RBL Bank to offer RuPay PoS for retailers:  National Payments Corporation of India (NPCI)   has declared that   RuPay   has joined hands with   RBL Bank   to come up with an innovative payment solution for Indian merchants, RuPay PoS in association with PayNearby.   Nalin Bansal, Head of RuPay & NFS, NPCI  said, “We are glad to associate with PayNearby, Paynext, Uvik and RBL Bank to facilitate the launch of the innovative RuPay PoS solution which will empower merchants across the country to onboard into digital payments ecosystem. It is our belief that this initiative will enable merchants and customers to be Atmanirbhar by reducing their dependency on cash and at the same time accelerate India’s journey towards a less-cash economy".   The RuPay POS will convert smartphones into merchants Point of Sale (PoS) terminals for retailers. With this merchants can accept contactless payments of up to Rs 5,000 through a simple t...

National Payments Corporation of India (NPCI) has collaborated with Payso Fintech in a bid to create awareness about digital payments in four cities namely, Mumbai, Pune, Bhopal and Indore. Under the association Finternship, an eight weeks internship program will be organized for about 600 graduates and postgraduates students of prime institutes to make them digitally sound. These students will undergo a certified training program free of cost and post the training they will reach out to merchants in order to help them accept cashless payments. Earlier this week the program was started in Mumbai and it will also be conducted sequentially in Pune, Bhopal and Indore this month. Kunal Kalawatia, Senior Vice President – Marketing & Branding, NPCI said, “We intend to enable over 12,000 merchants with BHIM UPI payments in a span of 8 weeks through this Finternship programme. We are happy to collaborate with Payso Fintech and spread awareness about Bharat Interface for Money –...

Paytm’s Founder Vijay Shekhar Sharma has kicked up a storm by having accused WhatsApp that has recently begun testing its payment service in the country of an unfair playing field. Paytm is said to be petitioning for redressal to the country’s unified digital payment system (UPI). Sharma said he will approach the National Payments Corporation of India (NPCI), which has developed the UPI system, and even higher authorities to highlight the issue that WhatsApp trial service does not require a log-in session and Aadhaar-based payments. Owned by Facebook, WhatsApp boasts a monthly user base of 200 million in India and its entry into the country’s digital payment space is seen as a threat to the likes of Paytm. Sharma told a publication that ‘Facebook is openly colonizing the country’s payment system and is customizing UPI to their benefit. “UPI was built as an India Stack, now some American monopoly arm-twists UPI for customer implementation,” he said.... Read More

Prime Minister Narendra Modi’s recently launched BHIM app, a digital payments solution app based on the Unified Payments Interface (UPI) has become a success and attracted 145 million UPI transactions in December 2017, according to NPCI. Talking about the app, BHIM is based on Unified Payments Interface (UPI) from the National Payments Corporation of India (NPCI). If a user has signed up for UPI based payments on their respective bank account, which is also linked to his/ her mobile number, then he/ she will be able to use the BHIM app to conduct digital transactions.  According to the report, since its launch the transactions are increasing rapidly as more e-commerce players and banks are rolling out their UPI interface.... Read More