India Targets 300 Million New Users for UPI Payments Platform

India Targets 300 Million New Users for UPI Payments Platform

India plans to bring hundreds of millions of new users onto Unified Payments Interface, its real-time payments system, while pitching the platform for wider adoption overseas.

Zaggle Gets NPCI Nod To Offer UPI Services Zaggle Gets NPCI Nod To Offer UPI Services

Listed fintech SaaS startup Zaggle has received approval from the National Payments Corporation of India (NPCI) to operate as a third party application provider (TPAP). The move will now allow the startup to offer Unified Payments Interface (UPI) services directly through its platform, empowering over 3 Mn users across its digital ecosystem. For the uninitiated, TPAP licence allows a company to offer UPI services to users via a payment system pr…

New UPI Regulation: Govt. Plans to Implement GST on Transactions Over INR 2,000

According to a significant update, the Indian government intends to impose the Goods and Services Tax (GST) on transactions made through the Unified Payments Interface (UPI) that exceed INR 2,000. Since UPI is now widely used in daily life, from paid professionals to street vendors, people across the country are alarmed by this proposed change. If put into effect, this new UPI rule would significantly impair regular digital payments. Especially …

NPCI Targets 300 Million New Users for UPI Payments Platform

National Payments Corporation of India (NPCI) aims to draw an additional 200 million to 300 million Indians to UPI to “break their cash memory”. The outfit is piloting vision recognition technology to encourage higher UPI usage in parking payments, he added.

India plans to add 200M-300M UPI users, including via delegated accounts for kids, and pitch UPI abroad; PwC: India makes up ~46% of global digital transactions

Top news and commentary for technology's leaders, from all around the web.

India targets 300 million new users for UPI payments platform

India aims to onboard millions to its Unified Payments Interface (UPI) and promote its global adoption. NPCI plans to add 200-300 million users by introducing delegated accounts and expanding features. While UPI's popularity surges, discussions around reinstating transaction fees to ensure viability are ongoing, potentially impacting future growth.