ICICI Bank’s Pockets wallet has become the first financial institution in India to be permitted to offer UPI IDs in its own name and make transactions directly without routing it via a bank account. So far, UPI IDs were reserved only for those who have an account with any recognized Indian bank, including co-operative banks. […]
E-commerce solutions provider Infibeam said its unit Avenues India, which operates the payment service CCAvenue, has entered the bill payment service with the launch of a new service BillAvenue. The service has been built atop the Bharat Bill Payment System created by the National Payments Corporation of India, which also created the UPI money transfer […]
SpiceJet has chosen HSBC Bank as its partner for receiving UPI payments on its website. UPI or Unified Payments Interface is an advanced, easy-to-use, cheap and real-time payment platform designed by the National Payments Corporation of India. Unlike more expensive payment options such as Visa and Mastercard, UPI is available to most banking users in […]
Snapdeal-owned FreeCharge has tied up with ICICI Bank’s Merchant Services, which will allow consumers to pay their bill at over 1 Lakh ICICI stores with their Freecharge accounts. These merchants are located at across 700 cities and towns in India, the company said. “FreeCharge’s partnership with ICICI Merchant Services, powered by First Data, will ease […]
While nearly all the major banks with the exception of SBI and HDFC have come up with UPI apps for regular users, ICICI Bank has gone a step further by bringing out an app specially dedicated to merchants. The app requires a current account with ICICI Bank to operate, and any small merchant or shopkeeper […]
State Bank of India, India’s largest bank, has started accepting UPI payments from customers of other banks. However, outgoing payments are yet to be enabled from an SBI account to other accounts. UPI refers to a new way of making instant payments. Instead of entering details such as bank account number and IFSC code, Unified […]
ICICI Bank said it has tied up with Hindustan Petroleum Corporation Ltd and Aditya Birla Fashion and Retail Limited to offer UPI based payments their retail outlets. The bank also said it has become the first in India to have 1 lakh registered virtual payment addresses under the platform. UPI, or unified payment interface, is […]
Standard Chartered, the UK-based bank, has urged its banking customers in India to change their ATM PIN numbers in light of increasing cases of ATM fraud. “For the security of your account, we would recommend that you visit our ATMs or call our helpline number and change your Debit Card PIN,” the bank said in […]
The National Payments Corporation of India, the country’s answer to VISA and MasterCard, today denied that its systems had been hacked. There were reports in the media that Chinese hackers had made off with data from NPCI servers. However, NPCI pointed out that it stores data only regarding its own products such as IMPS, UPI […]
YES Bank, the newest entrant to India’s banking sector, has turned out to be the most aggressive when it comes to taking advantage of India’s new payment infrastructure called UPI or Unified Payment Interface. While most banks are looking at UPI primarily as a replacement for cash transfer solutions like NEFT and IMPS, YES Bank […]
National Payments Corporation of India (NPCI), the umbrella organization for all retail payments system in India, launched a pilot bill-payment project. The project, called Bharat Bill Payment System, is an integrated platform connecting banks and non-bank entities in bill aggregation business like billers, payment service providers, retail bill outlets etc.. The system consists of four participants — the consumer, […]
ICICI Bank, one of India’s largest private sector banks has started registering new, user-friendly usernames on its mobile app as part of the UPI advanced payment platform of the government of India. The usernames are in the format name@icici and can be registered by ICICI mobile app users and those who use its Pockets payment app. The process […]
Bank of Maharashtra announced the launch of its UPI mobile application in association with National Payments Corporation of India (NPCI). The mobile app will enable customers to pay and collect money from their smartphones without entering any bank account number. The ‘MahaUPI application’ shall enable our customers and customers of other banks to have a […]
21 banks in India, including Andhra Bank, Axis Bank and Bank of Maharashtra, are introducing the upgraded form of India’s pioneering immediate payment service (IMPS) starting today. Under the new form of IMPS, users will be able to send money using proxy addresses instead of full bank account details, thus making instant money transfer across banks […]
