Digital payments in India record 44% CAGR in FY24: Finance Ministry
Furthermore, during the past 5 months (April-August) of the current financial year 2024-25, the transaction volume has reached to 8,659 crore, it added.
Furthermore, during the past 5 months (April-August) of the current financial year 2024-25, the transaction volume has reached to 8,659 crore, it added.
The RBI-DPI comprises 5 broad parameters that enable the measurement of penetration of digital payments in the country over different time periods.
The rights of maintenance and processing of digital payment solutions via the National Common Mobility Card (NCMC) have now been accorded to the Airtel Payments Bank.
Digital payment startups Razorpay and Cashfree on Tuesday announced that they received final authorisation from the Reserve Bank of India (RBI) to operate as payments aggregators (PA).
The central bank has sought comments on the draft guidelines till June 30. These can be sent through email or post to the Chief General Manager, Department of Payment and Settlement Systems, Central Office, RBI in Mumbai.
Global payment processing firm Stripe on Thursday announced to cut of over 1,000 jobs or 14 per cent of its staff.
European payments services provider Worldline and NPCI International Payments Ltd (NPIL) have entered into a partnership in a move to expand the acceptance of Indian payment means across Europe.
In the second quarter (Q2), India processed 20.57 billion online transactions valued at Rs 36.08 trillion this year, according to a report released by Wordline India, on Tuesday.
Commenting on the acquisition Sameer Nigam, Founder and CEO PhonePe said: "We are very excited to embark on this journey with OSLabs, and build just the kind of the localised App store that India needs."
The report said that the partnership between the two companies will bring contactless payment to more Indians.
