According to a new report from the Reserve Bank of India (RBI), digital payments fraud in the country grew 14.57 billion rupees ($175 million) in the year ended March 2024 from a year ago. The rise in fraud comes as India increasingly embraces digital payments...
Paytm’s stock has reportedly fallen considerably amid the company’s troubles with Indian banking regulators. Shares in Paytm are down roughly 61% in the last six months, Bloomberg News reported Tuesday (May 21), one day before the company is set to issue an earnings report that will likely...
India’s central bank wants its digital currency to be available without internet access. “One of the key features of cash is that it works offline,” Reserve Bank of India (RBI) Governor Shaktikanta Das said at a Monday (May 6) Bank for International Settlements summit. “We are working on making...
PayU has received in-principle authorization from the Reserve Bank of India (RBI) to operate as a payments aggregator. With this approval, the digital financial services provider can start onboarding new merchants to its platform, PayU said in a Tuesday (April 23) press release emailed to PYMNTS. “This...
September 09, 2022
In India, a broadening by the Reserve Bank of India (RBI) of the ways and means through which citizens can send money abroad will open the floodgates to FinTechs and other businesses dealing with cross-border payments. Reeju Datta, co-founder of Cashfree Payments, told PYMNTS’ Karen Webster that the central bank’s Liberalized Remittance Scheme (LRS) will […]
January 28, 2019
Barring any reprieve, Feb. 1 marks a sea change for India’s eCommerce sector. New rules may hobble giants like Amazon and Flipkart from offering discounts or investing in nascent marketplaces. Here’s why...
November 23, 2017
Anniversaries are a time for reflection, and one year into India’s grand de-monetization drive, the results are mixed. Counterfeiting activity has simply moved to embrace the new notes. GDP is...
July 13, 2017
Over the last 18 months, India has moved full-speed ahead from a nearly entirely cash-based society to one with ambitions of being totally cashless. The most public — and most famous...
July 09, 2024
Paytm has reportedly received government approval to invest $6 million in its crucial payments subsidiary. That green light came from a government panel overseeing investments tied to China, allowing embattled Paytm to invest $6 million in Paytm Payment Services, Reuters reported Tuesday (July 7), citing sources with knowledge of the matter. This approval, the report says, still needs […]
May 30, 2024
According to a new report from the Reserve Bank of India (RBI), digital payments fraud in the country grew 14.57 billion rupees ($175 million) in the year ended March 2024...
May 21, 2024
Paytm’s stock has reportedly fallen considerably amid the company’s troubles with Indian banking regulators. Shares in Paytm are down roughly 61% in the last six months, Bloomberg News reported Tuesday (May 21),...
May 06, 2024
India’s central bank wants its digital currency to be available without internet access. “One of the key features of cash is that it works offline,” Reserve Bank of India (RBI) Governor Shaktikanta Das said...
