Digital Payments
Latest news, explainers and analysis on Digital Payments. Tracking 81 stories on Arth Vani.
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Latest on Digital Payments
Viyona Fintech Eyes Zimbabwe Expansion with Smartphone Payments
Indian fintech firm Viyona Fintech is in discussions with the Zimbabwean government to introduce a smartphone-based payment platform. This move aims to boost digital financial inclusion in the African nation.
BreakingMDR on UPI Transactions Over ₹2,000 Deferred Until After Diwali
The Merchant Discount Rate (MDR) on UPI transactions exceeding ₹2,000 has been deferred, meaning merchants will not be charged this fee for now. This decision provides a temporary reprieve for businesses and consumers, with the potential charges set to come into effect only after the Diwali festival, as reported by The Economic Times.
BreakingUPI Merchant Fee Shake-up: Digital Payments Face Business Model Test
India's recent changes to UPI merchant fees are challenging the established business models of digital payment providers. The move aims to ensure a sustainable ecosystem for all stakeholders.
CERT-In Alerts Indian Fintech Firms to Rising Payment API Security Risks
India's national cybersecurity agency, CERT-In, has issued a crucial warning to fintech companies regarding potential security vulnerabilities in their payment APIs. This alert underscores the urgent need for robust cybersecurity measures to safeguard digital transactions and protect sensitive customer data from emerging threats.
BreakingThink Tank Urges Govt to Drop Proposed 0.4% UPI Fee on Transactions Over ₹2,000
An economic think tank, GTRI, has advised the Indian government to withdraw its proposal for a 0.4% fee on UPI merchant transactions exceeding ₹2,000. They warn that such a charge could lead to higher prices for consumers, financial strain on small businesses, and a potential decrease in overall demand.
Beyond UPI: How New Infrastructure Re-Engineering is Transforming Indian Fintech
India's fintech sector is moving past basic UPI payments toward a deep infrastructure overhaul that integrates AI and real-time data. This shift aims to move beyond simple chatbots to create a more resilient and personalized financial ecosystem for retail users.
Anyflo Acquires Native to Simplify Enterprise Stablecoin Payments
Anyflo, a new service focused on orchestrating stablecoin payments for businesses, has officially launched, emerging from its 'stealth mode'. This debut includes the acquisition of Native, a platform previously known for Bitcoin lending. The move aims to streamline and simplify how companies handle transactions using stablecoins.
BreakingFintech Platforms May Retain Service Fees Despite UPI Zero-MDR Directive
Indian fintech platforms are expected to continue levying certain "platform fees" for value-added services, a practice distinct from the National Payments Corporation of India's (NPCI) directive for zero Merchant Discount Rate (MDR) on UPI transactions. This means that while core UPI payments remain free for users, charges may still apply for specific conveniences offered by these payment applications.
BreakingIndia May Delay UPI Fee Plan Amid Payment Firm Concerns
The Indian government is reportedly considering a delay in implementing transaction fees on Unified Payments Interface (UPI) transactions. This potential postponement comes as payment service providers are preparing for a significant shift in their business models.
BreakingNITI Aayog's Virmani Holds India GDP Forecast at 7%, Backs Gradual UPI MDR Shift
NITI Aayog Member Arvind Virmani has retained India's GDP growth forecast at 7% for the current year, noting a 1% uncertainty due to unresolved global trade issues. He also supported a gradual shift towards cost-based Merchant Discount Rate (MDR) for UPI transactions, emphasizing sustainability after the platform's initial establishment with government subsidies.
Raj Jain Emphasises UPI, Cybersecurity, and India Stack at ET Edge Insights
Industry veteran Raj Jain recently addressed the critical roles of India's UPI, robust cybersecurity measures, and the comprehensive India Stack ecosystem during an ET Edge Insights session. His discussion underscored the foundational importance of these digital pillars for India's financial future and economic growth.
BreakingUPI Payment Firms Seek Larger Share of New Merchant Fees
India's UPI payment firms are reportedly in discussions to secure a greater portion of newly introduced merchant fees. This negotiation could reshape the revenue distribution among stakeholders in the country's booming digital payments ecosystem, particularly concerning the compensation for payment service providers.
Pine Labs Launches New 'P3P' Platform to Expand Fintech Offerings
Fintech major Pine Labs has announced the launch of a new platform named P3P. While specific details about P3P's features and target audience are awaited, the move signifies Pine Labs' continued innovation in the Indian digital payments and merchant commerce ecosystem.
BreakingApple Pay Launches in India Through Partnership with Axis Bank
Apple Pay has officially launched in India, marking its entry into the country's competitive digital payments landscape. The service is being introduced through a strategic partnership with Axis Bank, offering a new payment option for Apple users.
Traders Call Off 'No UPI Day' Protest After Meeting Finance Minister
The All India Mobile Retailers Association (AIMRA) and the All India Consumer Products Distributors Federation (AICPDF) have cancelled their proposed 'No UPI Day' protest. This decision was made following a meeting with Union Finance Minister Nirmala Sitharaman.
New LaunchBreakingCiti Launches Instant Cross-Border Payments for Businesses via Swift in Multiple Markets
Citi has introduced a new service enabling its corporate clients to make instant cross-border payments in multiple markets using the Swift network. This allows businesses to manage international transactions more efficiently through a single account.
Global Payments Forum Sibos Debates Monetary Sovereignty in Digital Age
The Sibos 2026 conference is featuring a crucial discussion on what 'monetary sovereignty' means for nations in a world increasingly adopting diverse, interconnected payment systems. This global conversation explores how countries can maintain control over their financial systems amidst the rise of new digital payment rails.
IPOBreakingRetailers Push Back on UPI Charges, Startup IPOs Heat Up
Indian retailers are voicing strong opposition to potential charges on UPI transactions, fearing increased costs. Meanwhile, the startup ecosystem is gearing up for a busy IPO season, with several companies preparing to list.
BreakingPine Labs to Deploy 1 Million Soundboxes Across India for Merchants
Fintech company Pine Labs is set to deploy 10 lakh (1 million) soundboxes across India, significantly expanding its presence in the merchant payments ecosystem. This move aims to provide instant audio payment confirmations to small and medium businesses, enhancing security and convenience for digital transactions.
BreakingFinance Ministry to Consult Banks, Traders on New MDR Charges Over ₹2,000
The Ministry of Finance will meet with the Indian Banks Association and traders' organizations to discuss the new Merchant Discount Rate (MDR) levy. This levy applies to digital transactions exceeding ₹2,000, effective from October 15, and aims to address concerns and shield consumers from additional costs.
Samsung Wallet Now Supports Biometric UPI in India
Samsung Wallet has integrated biometric authentication for UPI payments, aiming to enhance security and convenience for users in India. This update allows transactions to be approved using biometric methods such as fingerprint or facial recognition.
SoFi Becomes First Bank to Settle Stablecoins via Mastercard Network
SoFi, a US-based bank, has become the first financial institution to enable stablecoin settlements across Mastercard's global network. This pioneering move aims to integrate blockchain technology into mainstream finance, potentially making cross-border payments faster and more affordable.
BreakingNPCI Clarifies: GST on MDR Not Extra Burden for Merchants, Can Be Adjusted Against Tax
The National Payments Corporation of India (NPCI) has clarified that the Goods and Services Tax (GST) charged on Merchant Discount Rate (MDR) will not impose an additional financial burden on businesses. Merchants can claim this GST amount as Input Tax Credit (ITC), effectively adjusting it against their overall tax liabilities. This move aims to alleviate concerns among businesses regarding the cost implications of digital transactions.
Atum, New Payment Network from Former Visa Crypto Head, Raises $13.5 Million
Atum, an open payments network, has officially launched after securing $13.5 million in funding. The new venture is founded by Pete Cooling, who previously led the crypto product team at global payments giant Visa. This marks a significant development in the ongoing evolution of digital payment infrastructure.
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