What's New in Payments

Google Pay reports 67m users in India

Four smartphones being used for GooglePay transactions

“In the last 12 months alone, we’ve grown more than three times to 67 million monthly active users, driving transactions worth over US$110bn on an annualised basis, with hundreds of thousands of offline and online merchants,” Caesar Sengupta, vice president of Google’s next billion users initiative, has revealed... More


What's New in Payments

Indian government sets out plans to make digital payments ‘visibly cheaper’ than cash

Govt to incentivise online payments to push digital transactions — Hindustan Times — “The incentives could include cashbacks and reward points for BHIM users… The note presented last week by the ministry of electronics and information technology to Parliament’s standing committee on finance detailed a five-step road map to push e-transactions. ‘Digital payments to be made visibly cheaper than cash,’ the note said.



What's New in Payments

Indian government unveils sweeping proposals to reduce the use of cash

The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley departs from North Block to Rashtrapati Bhavan and Parliament House, along with the Minister of State for Finance and Corporate Affairs, Shri Arjun Ram Meghwal and the Minister of State for Finance, Shri Santosh Kumar Gangwar to present the General Budget 2017-18, in New Delhi on February 01, 2017.

The Government of India has introduced a series of incentives designed to encourage consumers and businesses to adopt digital and mobile payments and significantly reduce the use of cash in the economy — including plans to encourage banks to introduce one million point-of-sale terminals by March 2017, rising to two million by September... More