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.


Paytm to invest US$1bn in building out its payments business

Paytm plans $1 billion top-up to cash in on note ban success — Times of India — “Sharma said they were looking at a three-pronged strategy to double the number of users in the coming year by converting Paytm users to its payments bank, tap into non-wallet users through UPI and sell financial products from next year. ‘Long ago, we realised that standalone payments as a business is an orphan and thus we are building a bouquet of products,’ Sharma said.”




Google gearing up to enter mobile payments In India by integrating Android Pay with UPI

Google gearing up to enter mobile payments In India by integrating Android Pay with UPI — Inc42 — “Google is developing a separate India-focused app, which it will name differently, in integration with a bank. It is expected that Google will launch a UPI-enabled app within the next two-three months for mobile payments. If this happens, it could be a big boost to given that Android is the dominant operating system in India.”



Indian messaging unicorn Hike moves into payments, taking notes from Tencent’s WeChat

Indian messaging unicorn Hike moves into payments, taking notes from Tencent’s WeChat — CNBC — “India’s home-grown instant messaging service Hike on Tuesday announced wide-ranging updates to its app, including a new mobile wallet that lets users send and receive money instantly… The Hike Wallet has several features, including a linkage to the government-backed unified payments interface.”



Google and Stripe eye a slice of UPI pie in India

Google and Stripe eye a slice of UPI pie in India — Economic Times — “Google is preparing to introduce its digital wallet, Android Pay, in India this year, anchoring the platform to the government-backed Unified Payments Interface as are other global companies including Stripe and WhatsApp… Google has started testing UPI on its Android Pay platform, said one person aware of the developments.”


Mahindra Comviva explores the evolution of digital payments in India

Srinivas Nidugondi

The most obvious recent change in the payments landscape across India is the significant increase in the number of digital payments taking place in both urban and rural areas as a result of the measures taken by the Indian government to push the cashless initiative to the top of the nation’s agenda, says Mahindra Comviva’s senior vice president and head of mobile financial solutions. More



Samsung Pay goes live across India with support for Paytm and UPI money transfers

Samsung Pay India

Samsung Pay has launched in India with support from Visa, Mastercard, American Express, Axis Bank, HDFC Bank, ICICI Bank, SBI Cards and Standard Chartered Bank, with Citibank India support expected “shortly”. The service has also integrated India’s leading mobile wallet Paytm and comes with support for peer-to-peer money transfers through the Indian government’s Unified Payments Interface platform. More






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