The Unified Payments Interface (UPI) witnessed a slight decline in both transaction volume and value in June. The platform processed 18.40 billion transactions during the month, down from 18.68 billion in May.
The deadline has been extended by three months to provide more time to central government employees to decide whether they want to switch to the UPS or stay with the NPS.
Union Finance Minister Nirmala Sitharaman on Monday said that India is embracing a cashless revolution with world-class digital initiatives like unified payments interface (UPI).
According to the outage tracking platform Down Detector, there were 2,358 complaints by 1 pm.
As of now, the National Payments Corporation of India (NPCI), which operates UPI, hasn’t issued an official statement regarding the outage.
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.
