Google Pay to Globalize UPI, Aiding Establishment of Similar Payment Systems Abroad

17 Jan 2024

Google Pay, under Alphabet Inc.'s Google India Digital Services Pvt, has entered into a partnership with the National Payments Corporation of India (NPCI) to extend its services beyond India. The collaboration aims to leverage India's Unified Payments Interface (UPI) and make international payments more convenient for Indian travelers. Additionally, the...

New Regulations and Changes in UPI Transactions Effective From Today

01 Jan 2024

Starting January 1, 2024, the Reserve Bank of India (RBI) has implemented several measures to enhance and regulate the Unified Payments Interface (UPI), a rapidly growing mode of immediate money transfers through mobile devices in the country. To broaden the scope of UPI payments, the National Payments Corporation of India...

Paytm cuts over 1,000 jobs in bid to reduce staff costs by 15%

26 Dec 2023

One 97 Communications, the parent company of Paytm, has laid off over 1,000 employees, impacting various departments such as payments, lending, operations, and sales. The move aims to optimize operations, reduce staff costs by 15%, and enhance profitability. The decision, made over the past few months, is attributed to performance-related...

Paytm fires over 1,000 employees in effort to reduce costs

25 Dec 2023

The parent company of Paytm has reportedly let go of over a thousand workers from its engineering, sales, and operations departments in an effort to cut expenses and to consolidate operations, according to the sources. The layoffs that have taken place over the last several months represent one of the...

RBI Raises UPI Payment Limits for Hospitals and Educational to Rs 5 lakh

08 Dec 2023

In a major decision, the RBI on Friday announced to raise the UPI payment limit to hospitals and educational institutions to Rs 5 lakh from Rs 1 lakh presently and hiked the cap for e-mandates for recurring payments to Rs 1 lakh. Unveiling the December bi-monthly monetary policy, Reserve Bank...

With 4.8 million deployed devices, Paytm increases its position as the industry leader in payments

10 Oct 2022

Paytm, India's top provider of digital financial services and mobile and QR payments, has further solidified its position as a market leader in the payments industry with more than 4.8 million deployed devices. One 97 Communications Ltd., the parent company of Paytm, reported in a regulatory filing to the stock...