What are Prepaid Payment Instruments (PPIs)? Types of PPI Issued in India
What Are Prepaid Payment Instruments (PPIs)? As India continues its digital transformation, one set of tools stands out in making everyday transactions quicker, easier, and more accessible: Prepaid Payment Instruments (PPIs). These instruments allow users to load funds in advance and use them for a wide range of payments—without needing physical cash or traditional banking […]
Payment Aggregator and Payment Gateway difference and compliance
Inside This Article Introduction Around the world, the COVID-19 pandemic has profoundly affected people’s comfort levels with digital technology. The ‘new normal’ of payment reached 70 billion transactions in 2022, which was 44 billion in 2021. This has created opportunities for new entrepreneurs and small businesses. And finding the right method of the payment transaction […]
NRIs (Non-resident Indians) will be able to use UPI for processing payments
Inside This Article NRIs (Non-resident Indians) will now be able to use UPI for processing payments. NPCI (National Payments Corporation of India) says that NRIs living in ten countries can now set up UPI on their international mobile numbers. According to the new guidelines, they will now be able to use international mobile numbers for […]
How will digital banking units (DBUs) transform banking in India?
Inside This Article Introduction The Demonization and rise in digital payments paved the way for digital banking units (DBUs) in India, and the RBI’s Digital Payments Index (DPI) has increased to 349.30 in March 2022 from 153.47 in March 2019. Many banks are now prioritizing incorporating DBUs in their overall banking system because it helps […]
