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NPCI, IRCTC, and CoRover launch conversational voice payment system for UPI

Economic TimesEconomic Times · 1y ago
NPCI, IRCTC, and CoRover launch conversational voice payment system for UPI
Medial

The National Payments Corporation of India (NPCI), Indian Railway Catering and Tourism Corporation (IRCTC), and CoRover have introduced conversational voice payments for Unified Payments Interface (UPI). This new feature allows customers to complete transactions using voice commands or by entering their UPI ID or mobile number. It eliminates language barriers, making transactions more accessible and efficient. The technology integrates NPCI's payment gateway APIs with CoRover's voice-enabled generative AI model, BharatGPT. The system has been integrated into AskDISHA, the AI virtual assistant for IRCTC and Indian Railways. Additional features and enhancements are expected in the future.

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Venture Catalysts leads $4 Mn Series A round in CoRover

EntrackrEntrackr · 1y ago
Venture Catalysts leads $4 Mn Series A round in CoRover
Medial

Conversational AI startup CoRover has raised $4 million in its Series A round led by Venture Catalysts. CanBank Venture Capital Fund (CVCFL), IIM Calcutta (Innovation Park), IIIT Delhi (iHub Anubhuti IIITD Foundation), Cogniphy LLC, Karekeba Ventures, Lead Angels and others have also participated. Earlier in July 2021, the Bengaluru-based startup had raised an undisclosed amount from Canbank Venture Capital Fund Ltd (CVCFL) from its fund VI. The proceeds will be used to further develop its technology, expand its team of AI experts, and ramp up its go-to-market strategy. It also plans to enhance its enterprise (B2G and B2B), B2B2C, and B2C offerings, while also exploring new revenue streams through subscription-based models, ad-based revenue, and transaction-based fees. Founded by Ankush Sabharwal, Kunal Bhakhri, and Manav Gandotra, CoRover offers a managed Chatbot as a Service (CaaS) with self-onboarding support, an AI-based VideoBot platform to help organizations cut down costs, accelerate revenue, and improve customer experience and operational efficiency. CoRover offers its AI bots services across channels like website, app, WhatsApp, IVR, SMS, Microsoft Teams, and other social media and IM channels, in different formats ranging from text, voice, and video, and even supports around 12 Indian/vernacular and over 100 foreign languages. Some of its innovations include BharatGPT (LLM), CoroAssist (a secure Gen AI based copilot for enterprises), eSevak (Conversational Citizen Grievances Management), AskDISHA (at Indian Railways & IRCTC), Ask PAi (at NPCI), AskMitra (at LIC), Chetna (at DMRC), and SEVA (at SEBI).

UPI processes 20.47 Bn transactions in November

EntrackrEntrackr · 7d ago
UPI processes 20.47 Bn transactions in November
Medial

UPI processes 20.47 Bn transactions in November This marks the third time since its launch that UPI has crossed 20 billion monthly transactions, the earlier instances being in October and August this year. Unified Payments Interface recorded 20.47 billion transactions in November 2025, slightly below the 20.70 billion transactions reported in October, according to fresh data from NPCI. Despite the marginal month-on-month decline, UPI transactions grew 32% year on year. In terms of value, UPI reported Rs 26.32 lakh crore in November compared to Rs 27.28 lakh crore in October. While the annual growth rate stood at 22%, the monthly dip points to a mild cool off after October which was driven by festival-related spending. Average daily transactions rose to 682 million, while the average daily transaction value stood at Rs 87,721 crore, slightly below October which reported Rs 87,993 crore. In October, PhonePe continued to dominate the ecosystem with 9.4 billion UPI transactions, well ahead of Google Pay and Paytm. NPCI has not yet released the UPI app-wise distribution for November. UPI, launched by NPCI in 2016, has expanded steadily beyond India through NPCI International to enable merchant payments and cross-border transactions. It is already live in countries such as Singapore, UAE, Bhutan, Nepal, France, Sri Lanka, and Mauritius, with more overseas partnerships currently under rollout. Recently, the Reserve Bank of India said that UPI will be interlinked with TARGET Instant Payment Settlement, the instant payment system operated by the Eurosystem.

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