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Mastercard and Razorpay Team up to Advance SMB Digital Payments

The tie-up will enable Indian startups and SMBs to fold technology into their operations and accelerate digitalization while also maintaining business continuity and preparing for alternatives to cash payments.

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ICICI Bank Launches First Mobile Banking App

ICICI Bank announced that it has transformed its state-of-the-art mobile banking app, iMobile, into an app that offers payments and banking services to customers of any bank.

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Indians’ Access to Mobile Money Jumps 17-Fold in Four Years: IMF

IMF’s financial access survey for 2020 said the number of registered mobile money accounts per thousand adults jumped from 73 in 2015 to 1,265 in 2019.

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India Making Rapid Strides in Bridging Digital Payments Divide: Mastercard

In the current environment there has been significant growth in adoption of contactless payments, both globally and in India.

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Coronavirus or Demonetization? Which One Helped India’s Digital Payment More?

The value of transactions on the Unified Payments Interface, a platform created by India’s largest banks in 2016, reached an all-time high last month as people feared to handle banknotes amid the pandemic.

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India: Digital Payments Bounce Back to Pre-COVID Levels

Digital payment transactions through the Unified Payment Interface (UPI), cards and mobile wallets have made a near V-shaped recovery this month.

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RBI Asks Payment Systems Operators to Educate Public on Safe Digital Transactions

The Reserve Bank of India (RBI) on Monday directed payment systems operators to undertake targeted multi-lingual campaigns by way of SMSs and advertisements to educate their users on safe and secure use of digital payments amid incidence of frauds continuing to bedevil people.

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India: Crisis to Boost Mobile Payments, Says Report

Mobile-based payments will be resilient and overtake card payments in India, with the covid-19-induced economic slowdown likely to put a pause on the rapid rise of cashless payments in 2020.

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India’s Digital Financial Services Opportunity in a Post-COVID World

COVID-19 could be the “demonetization moment” for digital services delivery in India.

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India: May Digital Payments See an Uptick, Indicating Revival in Economic Activity

Digital payments saw a revival in May, after the government granted some relaxation during the third and fourth phases of the lockdown.