UPI
Coverage of UPI in the Nexus archive.
- RBI has funds to pay for UPI platform without having to charge merchants, customers
The Reserve Bank of India (RBI) has funds to support the UPI platform without charging merchants or customers. The government has introduced a Bill in Parliament to notify which transactions might incur charges. UPI has been free for users and merchants until now.
- My cousin lost ₹50,000 in a fake work from home scam. ₹45,000 was her hostel fee. What can she do now?
A cousin lost ₹50,000 in a fake work-from-home scam involving a job offer related to Myntra and a website called Zengo. She was tricked into depositing money through UPI, with ₹45,000 being her hostel fee, after being misled by tasks and promises of refunds and profits.
- Favara-UPI cross-border payment corridor goes live between Maldives, India
The Favara-UPI cross-border payment corridor between Maldives and India launched on July 30, enabling real-time fund transfers from Maldivian individuals to UPI-enabled Indian bank accounts via mobile banking apps.
- Yadgir: Lokayukta traps Health Department assistant for accepting ₹20,000 bribe via UPI
The Lokayukta in Yadgir apprehended a Health Department assistant for accepting a ₹20,000 bribe via UPI. The complainant claims an incentive of ₹1,39,750 was sanctioned to their account, but the official demanded a commission to facilitate its release.
- BMTC clarifies temporary UPI ticketing disruption, assures automatic refunds
BMTC addressed a temporary UPI ticketing disruption. The organization assured automatic refunds to affected users.
- Indian payments chief thinks AI will be heavily involved in next era of digital payment growth
Dilip Asbe stated that artificial intelligence (AI) will play a significant role in the next phase of digital payment growth. He also noted that newer UPI apps could become more competitive with a viable commercial model.
- MobiKwik’s Thin Margins, UPI Pressure and Path to Profit
MobiKwik faces challenges due to thin margins and UPI pressure, affecting its path to profitability. The company needs to find ways to increase revenue and reduce costs. MobiKwik's financial struggles are a concern for its investors and stakeholders.