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News on Medial
Now, PhonePe Users Can Pay Via UPI In Singapore
Inc42
·
1y ago
Medial
The Singapore Tourism Board (STB) and Indian fintech giant PhonePe have formed a strategic partnership to promote Unified Payments Interface (UPI) payments for Indian tourists in Singapore. Indian visitors can now use the PhonePe app at over 8,000 merchants in Singapore. The collaboration builds on the existing UPI linkage between India and Singapore, allowing customers to make cross-border transactions directly from their Indian bank accounts. Both STB and PhonePe will invest in joint marketing efforts across India and Singapore as part of the partnership.
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UPI goes to UAE: PhonePe users can pay via Neopay terminals
Economic Times
·
1y ago
Medial
PhonePe has announced that its users can now make payments via the PhonePe app at Mashreq's Neopay terminals in the United Arab Emirates (UAE). This collaboration allows Indian visitors and non-resident Indians living in the UAE to make seamless transactions in Indian rupees. The initiative is part of the government's plan to expand UPI (Unified Payments Interface) outside of India. PhonePe also plans to introduce inward remittance services using the UPI infrastructure, simplifying the process of transferring money.
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Fintech startup Navi looks to launch new products; tap credit opportunities around UPI
Economic Times
·
1y ago
Medial
Fintech startup Navi, founded by Sachin Bansal, is planning to update its Unified Payments Interface (UPI)-based payments system and explore opportunities related to credit on UPI. Bansal expressed his interest in changing the way users interact with UPI through new product offerings on Navi. The National Payments Corporation of India allows credit transactions through UPI via RuPay credit cards or pre-sanctioned credit limits. Navi, initially a consumer lending platform, now offers larger personal loans, secured credit options, insurance broking, and asset management services. Despite competition, Google Pay and PhonePe hold a significant share of the UPI payments market.
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BOBCARD’s EMI option on RuPay-UPI cards: Should you opt for this facility for festive spends?
Money Control
·
10m ago
Medial
RuPay credit card users can now link their cards to popular UPI apps like Amazon Pay, BHIM, CRED, Google Pay, Paytm, and PhonePe. Additionally, RuPay BOBCARD credit card holders can convert their purchases into Equated Monthly Installments (EMIs) by scanning a QR code through UPI apps. This new feature offers users greater flexibility and control over their finances, allowing them to spread high-value purchases over manageable installments. The aim is to drive the adoption of digital credit solutions in India, especially in Tier 2 and 3 cities, and meet the demand for flexible payment options during the festive season.
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PhonePe goes to UAE, Users can now make UPI payments via NEOPAY terminals
IndianStartupNews
·
1y ago
Medial
Indian digital payments giant, PhonePe, has expanded its services to the United Arab Emirates (UAE). Users visiting the UAE can now make payments via UPI at Mashreq Bank's NEOPAY terminals, allowing transactions through scanning a QR code. The partnership between PhonePe and Mashreq Bank is facilitated by NPCI International Payments Limited in order to integrate UPI's seamless payment method within the UAE payment ecosystem. The move is part of PhonePe's plan to expand digital payment accessibility globally. PhonePe also aims to introduce inward remittance services in the future.
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PhonePe users can now make payments through UPI in Singapore
Economic Times
·
1y ago
Medial
Fintech company PhonePe has partnered with The Singapore Tourism Board (STB) to allow its users to make payments through UPI in Singapore. This collaboration builds upon the existing UPI linkage between India and Singapore, enabling customers to make cross-border transactions directly from their Indian bank accounts. The two-year strategic partnership aims to promote UPI payments for Indian visitors in Singapore, with joint marketing efforts and seamless payment experiences across key tourism hotspots. PhonePe, valued at over $10 billion, processes over 230 million daily transactions with an annualised TPV of over $1.5 trillion.
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UPI payments giant PhonePe launches Income Tax Payment feature
IndianStartupNews
·
2y ago
Medial
PhonePe, a major UPI payments platform, has launched an income tax payment feature. With this new addition, users can conveniently pay their income tax dues directly through the PhonePe app. The feature aims to simplify the tax payment process, providing users with a seamless and efficient option to fulfill their tax obligations using the digital payment platform.
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PhonePe Enables UPI Payments For Indians In UAE
Inc42
·
1y ago
Medial
Fintech giant PhonePe has announced that users can now make digital payments in the UAE through its platform. The service, facilitated by UPI, will be available at Mashreq Bank's NEOPAY terminals. Users can scan the QR code, and payments will be debited in INR at current currency exchange rates. Additionally, NRIs with UAE mobile numbers can link their existing NRE and NRO accounts to the PhonePe app for payments. PhonePe also plans to introduce inward remittance services in the future.
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Fraudsters use malicious mobile app to steal money from UPI users: report
Economic Times
·
8m ago
Medial
Fraudsters have been using a malicious app called 'PM Kisan Yojna' to target UPI users and steal money, according to Tamil Nadu police. The app was distributed through multiple channels, including WhatsApp, and gained control over users' SMS and device permissions. The fraudsters intercept SMS traffic and manipulate UPI applications to carry out unauthorized transactions. They also collect sensitive personal data from users. Multiple incidents of unauthorized bank transactions through UPI, specifically via PhonePe, have been reported recently, with the deducted amounts being transferred to Amazon Pay. The police have advised users to only use official apps and websites for financial transactions.
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PhonePe rolls out UPI Circle for shared payments
OutlookIndia
·
3m ago
Medial
PhonePe has introduced UPI Circle, a feature enabling users to manage payments for family and trusted contacts without linked bank accounts. The main account holder can control payments, approve or reject requests, and monitor spending. This innovation aims to make digital payments accessible for the underbanked, aligning with PhonePe's goal of democratizing financial services. The feature follows trials by major apps like Amazon Pay and Google Pay. PhonePe is also preparing for a future stock market listing.
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Sharma's Paytm UPI payments drop further in March; PhonePe show gains
IndianStartupNews
·
1y ago
Medial
PhonePe, the UPI payments platform, has surpassed Paytm in terms of monthly active users (MAUs) on their merchant apps. PhonePe experienced a 20% increase in MAUs, reaching approximately 11 million, while Paytm saw a 20% decline, dropping to around 9 million MAUs. The shift is attributed to the Reserve Bank of India's recent sanctions against Paytm, leading to a decrease in active users. PhonePe also dominates the consumer-facing UPI payments app market, holding a 50% market share compared to Google Pay and Paytm Payments Bank.
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