STARTUP/TECHNOLOGY UPI’s New MDR: Cost For Merchants, But No Charge For Customers Seen

With Unified Payments Interface (UPI) processing 24 billion transactions worth about $311 billion in August 2026, the new Merchant Discount Rate (MDR) framework marks a significant change in the economics of India’s largest digital payment network, although the immediate impact on consumers is expected to be limited because the customer-facing UPI transaction remains free. What […]

Sajan C Kumar · Sep 16, 2026

STARTUP/TECHNOLOGY UPI To Remain Free For P2P Transfers, 96% Of Merchant Transactions: Govt

The new Unified Payments Interface (UPI) framework will have no impact on person-to-person transactions, with all P2P UPI payments continuing to remain completely free irrespective of the amount transferred. The framework will also keep merchant payments up to ₹2,000 free of Merchant Discount Rate (MDR). Transactions covered under the zero-MDR framework for small merchants will […]

CW Bureau · Sep 15, 2026

MANUFACTURING Under ₹2,000, Lava Phones Now Get PhonePe-Powered UPI Payments

Lava International, India’s homegrown mobile phone manufacturer, has announced the integration of the PhonePe application with UPI payment capabilities across its feature phone portfolio, bringing digital payments to consumers without requiring a data connection. The UPI facility is powered by the 123PAY technology of the National Payments Corporation of India (NPCI), which enables users to […]

CW Bureau · Sep 2, 2026

BANKING & FINANCE UPI Turns 10: How It Scaled From 1.78 Crore To 24,162 Crore Transactions

The Unified Payments Interface (UPI), launched on August 25, 2016 by the National Payments Corporation of India (NPCI) under the regulatory oversight of the Reserve Bank of India (RBI), completes a decade of transforming the way India makes payments. What started as a digital payments platform has evolved into the backbone of India’s digital payments […]

CW Bureau · Aug 24, 2026

STARTUP/TECHNOLOGY Paytm Shifts Into Growth Gear As Profits Strengthen, AI Gains Pace

Paytm is targeting sustained long-term profit growth as the fintech company looks to accelerate revenue, expand its consumer and merchant businesses and leverage artificial intelligence (AI) to drive operating efficiencies. In a message to shareholders in the company’s Annual Report 2026, Paytm Founder & CEO, Vijay Shekhar Sharma said the business has become sustainably profitable, […]

CW Bureau · Aug 22, 2026

GENERAL UPI To Remain Free For Users; Limited Merchant MDR May Be Introduced

The government on Saturday categorically clarified that UPI users will not face any transaction charges, while the vast majority of merchant transactions will also remain free under any future merchant discount rate (MDR) framework. The clarification comes amid debate over the recent amendment to the Payment and Settlement Systems Act (PSS Act), with the government […]

CW Bureau · Aug 8, 2026

BANKING & FINANCE RBI For Kill Switch, AI-Powered Fraud Detection To Fortify Digital Payments

The Reserve Bank of India (RBI) is exploring the introduction of new safeguards in digital payment systems, including a universal ‘kill switch’ and additional transaction frictions, as part of a broader strategy to combat rising digital payment frauds and enhance customer protection. According to the Reserve Bank of India Annual Report FY26, the central bank […]

CW Bureau · May 30, 2026

BANKING & FINANCE Credit Card Spending Growth Tapers To 7.1% In April Post Fiscal-End Surge

India’s credit card spending growth moderated in April 2026 following elevated spending activity during the March fiscal year-end period, even as digital payments and e-commerce transactions continued to support overall consumption trends. According to a CareEdge Ratings report, aggregate credit card spending rose 7.1% year-on-year to ₹1.98 lakh crore in April 2026. However, spending moderated […]

CW Bureau · May 29, 2026

BANKING & FINANCE Compliance Matters: The Inside Story Of Paytm Bank Licence Cancellation

In one of the toughest regulatory actions in India’s fintech space, the Reserve Bank of India (RBI) has cancelled the banking licence of Paytm Payments Bank Ltd (PPBL) with effect from April 24, 2026, citing persistent non-compliance and serious governance concerns. The move effectively shuts down the payments bank and sets in motion a winding-up […]

CW Bureau · Apr 26, 2026

BANKING & FINANCE RBI’s Unified E-Mandate Framework Bets On Stronger Customer Control

To streamline recurring digital payments, the Reserve Bank of India has consolidated all existing circulars and issued the Digital Payments – E-mandate Framework, 2026. The directions, issued under the Payment and Settlement Systems (PSS) Act, 2007, come into effect immediately. Wide applicability across payment modesThe framework will apply to all payment system providers and participants […]

CW Bureau · Apr 21, 2026

BANKING & FINANCE BHIM Ropes In MS Dhoni To Power Next Phase Of Payments Growth

NPCI BHIM Services Ltd (NBSL) has announced the appointment of former Indian cricket captain Mahendra Singh Dhoni as the brand ambassador for the BHIM payments App. The move aligns with BHIM’s evolving strategy to strengthen user trust while accelerating adoption across urban and rural India. BHIM is entering a new growth phase focused on scale, […]

CW Bureau · Mar 19, 2026

BANKING & FINANCE Jio Payments Bank Introduces UPI-Based Cash Withdrawal Service

Jio Payments Bank Ltd (JPBL), a wholly-owned subsidiary of Jio Financial Services Ltd, has introduced a UPI-based cash withdrawal facility, enabling customers to access cash seamlessly through its business correspondent (BC) network. Bridging Digital Payments And Cash Access The newly launched feature allows users, particularly in rural and semi-urban areas, to withdraw cash by simply […]

CW Bureau · Mar 17, 2026