Indian consumers can now make QR code-based mobile payments using BharatQR, a “low cost, interoperable mobile acceptance solution” backed by the Indian government and developed by Mastercard, Visa and National Payments Corporation of India (NPCI)... More
Indian mobile wallet Paytm “expects to lose 20-30%” of customers making offline payments using QR codes, OTP or mobile-to-mobile transfers when the Reserve Bank of India removes cash withdrawal limits on March 13, The Financial Express reports... More
“The time is ripe” for the adoption of blockchain technology in India, according to the Reserve Bank of India’s research arm which believes the technology has the potential to digitise the country’s fiat currency... More
Indian mobile payments provider Paytm has been granted permission from the Reserve Bank of India to formally launch a payments bank... More
The Reserve Bank of India has removed two-factor authentication — involving the use of one-time passwords sent to mobile phones — for online card transactions up to Rs 2,000 (US$29), Live Mint reports... More
The Reserve Bank of India (RBI) has increased the limit of money that can be kept in a mobile wallet to Rs 20,000 (US$291) from Rs 10,000 (US$145.5) following the withdrawal of Rs 500 (US$7) and Rs 1,000 ($14) notes... More
Mobile payment transaction volume in India is expected to grow more than 90% each year over the next five years, with digital payments becoming the “de-facto payment mode” in the country, in the wake of the government’s withdrawal of Rs 500 (US$7) and Rs 1,000 ($14) notes... More
The Reserve Bank of India (RBI) has released its framework for payment and settlement systems with a view to moving the country towards a “less-cash” society... More
Indian mobile cab hailing service Ola Cabs has launched Ola Money, which lets customers load funds into a mobile app and use them to pay their fare... More
Indian mobile wallet provider Paytm is to hire 3,000 people to roll out its payments bank services by the first quarter of next year... More
Indian mobile wallet provider Oxigen Wallet has partnered with loyalty program provider PayBack to allow customers to earn PayBack points and redeem them as cash, to make online and bill payments... More
Indian mobile cab hailing service Ola Cabs is reportedly planning to apply for a mobile wallet licence from the Reserve Bank of India (RBI)... More
One97 Communications, owner of mobile payment platform Paytm, has asked Reserve Bank of India (RBI) to increase the limit on money that can be kept in a mobile wallet to Rs 25,000 (US$393) from Rs 10,000 (US$157)... More
India’s Axis Bank is to enable all of its 50,000 merchant point-of-sale terminals to accept contactless payments by the end of this year in order to “facilitate significant usage of contactless NFC-based cards issued by all banks”... More
Contactless users in India can make payments of up to Rs2,000 (US$31) without using a PIN, following the Reserve Bank of India’s relaxation of its requirement for two-factor authentication... More
News in brief from the NFC world and beyond: PingPing adds Coca-Cola • Indian banks offer mobile payments • GSMA investigates embedded SIMs • VeriFone buys Hypercom • Brands test Google Goggles • 500m to use mobile medical apps by 2015 • CPI hits 100M contactless cards • and more… More
News in brief from the NFC world and beyond: NXP CEO picks NFC • Nacha cuts out cards • P2P payments set for growth • Bharti Airtel picks up payments license • Facebook Deals a blow • Only 4% have checked out checking in. More