UPI Lite Boost: New Limits And Auto Top-Up Feature Launching Soon!

01 Nov 2024

New Delhi: UPI Lite users can look forward to significant enhancements as the platform implements two crucial updates starting November 1, 2024. These changes, driven by the Reserve Bank of India's (RBI) latest decisions, aim to improve the payment experience for users across popular platforms like Google Pay, PhonePe, and...

PhonePe Reports Rs 197 Crore Profit In FY24, Revenue Surges 74%

26 Aug 2024

The PhonePe Group reported an adjusted profit after tax of Rs 197 crore for the financial year 2023-24, marking a sharp recovery from a loss of Rs 738 crore in the previous fiscal year. The company’s revenue also saw impressive growth, jumping 74% to Rs 5,064 crore in FY24, compared...

PhonePe Unveils ‘Credit Line on UPI’, Boosting Payment Flexibility

22 Aug 2024

PhonePe has introduced a new feature called 'Credit Line on UPI,' designed to enhance the convenience of transactions for its users. This feature allows consumers to connect their credit lines from banks to the Unified Payments Interface (UPI) on the PhonePe platform, enabling seamless merchant payments and further expanding the...

Google, Amazon, And Walmart Seek To Join RBI’s Digital Currency Pilot

05 Aug 2024

Google Pay, Amazon Pay, and Walmart-backed PhonePe are among the five payment firms seeking to join the Reserve Bank of India's (RBI) digital currency pilot. This initiative aims to enhance transactions using the e-rupee, according to sources directly involved in the discussions. Companies Joining the E-Rupee Pilot Alongside Google Pay,...

RBI Deadline Over, Credit Card Payments Via Cred, PhonePe Still Possible

01 Jul 2024

Despite the RBI's June 30 deadline for the Bharat Bill Payment System (BBPS), certain users retain the ability to pay their credit card bills via third-party platforms such as Cred and PhonePe. These fintech providers are enabling credit card bill settlements for banks that have not yet complied with BBPS...

Credit Card Payments Through PhonePe, Cred & Bill Desk To Be Halted After This Date–Check When

21 Jun 2024

India's central bank, the Reserve Bank of India has recently issued an order, which now mandates that all credit card payments will now go through Bharat Bill Payment System (BBPS) after June 30. Thus, affecting major companies like PhonePe, Cred, BillDesk and Infibeam Avenues, as these fintech companies, will not be...

BharatPe and PhonePe Settle Long-Standing ‘Pe’ Trademark Dispute

26 May 2024

BharatPe Group and PhonePe Group have announced the amicable resolution of their long-standing legal disputes concerning the use of the suffix 'Pe' trademark. The two companies have been embroiled in extensive legal battles over the trademark for the past five years. This settlement marks the end of all ongoing judicial...

NPCI Likely To Extend UPI Deadline, Offering Boost To Google, PhonePe

10 May 2024

The National Payments Corporation of India (NPCI) plans to postpone the deadline for enforcing a 30% market share limit on firms handling payments via the Unified Payment Interface (UPI) by one to two years, according to sources familiar with the matter who told reuters. This move is anticipated to favor...

Flipkart valuation decreases by more than ₹41,000 crore

18 Mar 2024

According to information derived from transactions conducted by its parent company Walmart in the United States, the valuation of the e-commerce giant Flipkart has experienced a decline, decreasing by $5 billion or approximately ₹41,000 crore since January 2022. As of January 31, 2024, Flipkart's valuation is reported at $35 billion,...

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...