The dramatic increase in financial complexity has driven widespread adoption of digital personal finance management products over the past 12 months, according to the report by CRED Money, used by over 10 lakh Indians.
India's Digital Public Infrastructure (DPI) drives accessible and secure public services, transforming the digital economy.
The National Payments Corporation of India (NPCI) on Tuesday removed the unified payments interface (UPI) user onboarding limit for WhatsApp Pay with immediate effect.
The businesspersons have alleged that if any fraudster buys garments from their shops and makes payment into their bank account online or through UPI by the money duped through the fraud, the police and investigating agencies freeze the entire account of the shopkeeper.
Unified Payments Interface (UPI) transactions at retail stores have witnessed a spike of 33%, underscoring the growing adoption of digital payments beyond Tier II regions in the country, a recent report has said.
The transactions in October were the highest numbers for the digital system since it became operational in April 2016.
There was a time prior to the 21st century when Great Britain, now mostly known as the UK, was really great. The same was true about the US and most of Western Europe but the current century has unveiled a different reality; Western countries are still far richer, but Asia, particularly India and China, are indisputably future world leaders.
This comes after the company received approval from the National Payments Corporation of India (NPCI) on October 22, to onboard new UPI users.
Maldivian President Mohamed Muizzu has decided to take the necessary steps to introduce India's Unified Payment Interface (UPI) in the Maldives.
Similarly, the value of transactions grew by 40 per cent, increasing from Rs 83.16 lakh crore to Rs 116.63 lakh crore in the first six months this year.
