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UPI-PayNow: International remittance enabled for these 13 new banks by NPCI; Know the details - The Economic Times
Economic Times
·
23d ago
Medial
The National Payments Corporation of India (NPCI) has expanded the UPI-PayNow international remittance service to include 13 additional Indian banks, allowing for real-time cross-border transfers to Singapore, effective July 17, 2025. This expansion increases the total to 19 participating banks, enabling a wider customer base to remit funds efficiently. The UPI-PayNow integration offers secure, cost-effective, and instant transactions, enhancing financial connectivity between India and Singapore, and benefiting the Indian diaspora in Singapore.
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NPCI International signs MoU with Greek bank to take UPI to Europe
Economic Times
·
1y ago
Medial
NPCI International Payments (NIPL) has signed a memorandum of understanding with Eurobank, a Greek bank, to process foreign inward remittance from Greece through UPI (Unified Payments Interface). This partnership positions Greece as one of the first European countries to enable seamless remittances to India using UPI rails. The agreement includes fund settlement, reconciliation, and dispute resolution in their respective jurisdictions. This initiative strengthens economic ties between India and Greece through increased remittance flows. Previously, UPI was launched in France, allowing Indian tourists to purchase Eiffel Tower tickets using UPI payments. NPCI has established relationships with several countries, resulting in the acceptance of UPI and RuPay as payment methods.
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After UAE, NPCI launches UPI in Nepal; Users can san QR codes to make payments
IndianStartupNews
·
1y ago
Medial
NPCI International Payments Ltd (NIPL), the international arm of National Payments Corporation of India (NPCI), has partnered with Fonepay Payment Service Ltd, Nepal's largest payment network, to introduce Unified Payment Interface (UPI) for cross-border transactions. This collaboration allows Indian consumers to use UPI-enabled apps for QR-code-based person-to-merchant transactions in Nepal. The integration of UPI into Nepal's payment ecosystem not only strengthens ties between the two countries but also sets an example for future digital payment integrations globally. The partnership is expected to boost economic ties, commerce, and tourism between India and Nepal while promoting financial inclusion and economic prosperity.
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Limit usage of non-financial requests to UPI: NPCI to banks
Economic Times
·
3m ago
Medial
The National Payments Corporation of India (NPCI) has instructed banks to limit non-financial transaction requests to the Unified Payments Interface (UPI) network, following recent outages. Banks are advised to audit their systems through a certified auditor and conduct annual audits henceforth. Excessive API usage by banks caused network congestion. NPCI also directed banks to display only the beneficiary's name during UPI transactions to streamline processes, alongside efforts to expand UPI capability globally.
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RBI directs NPCI to certify 4-5 banks for Paytm UPI migration
Inshorts
·
1y ago
Medial
The RBI has advised National Payments Corporation of India (NPCI) to consider the request of Paytm parent One97 Communication to become a Third-Party Application Provider for UPI transactions. For the seamless migration of the '@paytm' handle to other banks, NPCI may facilitate the certification of 4-5 banks as Payment Service Provider banks to process high-volume UPI transactions.
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UPI services restored after brief outage caused by bank-side technical issues says NPCI - The Economic Times
Economic Times
·
1d ago
Medial
UPI services faced a significant nationwide disruption due to technical issues at some participating banks, causing widespread transaction failures. The outage led to problems with payments, fund transfers, and app access for many users. Despite this temporary setback, UPI continues to grow, with July transactions hitting a record high of 19.47 billion. The National Payments Corporation of India (NPCI) worked quickly with banks to resolve the issue and restore services.
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NPCI reports intermittent UPI transaction rejections; blames financial year closing
Economic Times
·
4m ago
Medial
The National Payments Corporation of India (NPCI) reported intermittent UPI transaction rejections due to financial year closing, affecting some banks. While confirming UPI's overall functionality, NPCI is collaborating with banks for issue resolution. Users facing difficulties are advised to contact their banks. This follows a previous major UPI outage affecting platforms like Google Pay, highlighting the need for robust backup systems. New guidelines now require weekly updates of mobile number records to minimize errors.
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NPCI to decide on UPI merchant transaction limits, says RBI Governor
YourStory
·
4m ago
Medial
The Reserve Bank of India has authorized the National Payments Corporation of India (NPCI) to revise transaction limits for Unified Payments Interface (UPI) merchant payments, allowing more flexibility in adapting to economic needs. The NPCI will work with banks and stakeholders to recalibrate person-to-merchant (P2M) transaction limits, currently set at Rs 2 lakh. However, person-to-person (P2P) limits remain unchanged at Rs 1 lakh, as confirmed by RBI Governor Sanjay Malhotra.
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Now, Indians Can Pay Using UPI In Nepal
Inc42
·
1y ago
Medial
The National Payments Corporation of India (NPCI) has announced that the Unified Payment Interface (UPI) is now live in Nepal, following a signed pact between NPCI International Payments Ltd (NIPL) and Fonepay Payment Service. The partnership will enable Indian consumers to make instant, secure, and convenient UPI payments across various stores in Nepal, facilitating QR-code-based person-to-merchant transactions between the two countries. This digital connection aims to strengthen people-to-people ties and promote economic prosperity in the region. Similar cross-border UPI deployments have been made in countries such as Sri Lanka, Mauritius, Bhutan, UAE, and Canada.
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NPCI Blames Banks for UPI Outage as Transactions Hit Record
StartupTalky
·
13h ago
Medial
The National Payments Corporation of India (NPCI) attributed a UPI outage on 7 August to internal technical issues at some partner banks, but affirmed that NPCI systems were functioning properly. This incident, affecting millions nationwide, was the fourth major UPI outage in 2025. In response to these issues, NPCI and government officials emphasized the need for enhancing UPI's infrastructure resilience. Despite challenges, UPI transactions hit a record high of 19.47 billion in July 2025.
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RBI moves to ensure continuity of UPI payments on Paytm
VCCircle
·
1y ago
Medial
The Reserve Bank of India (RBI) has asked the National Payments Corporation of India (NPCI) to consider Paytm's request to become a third-party application provider (TPAP) for the country's Unified Payments Interface (UPI). If approved, Paytm would require a group of banks to support its app for processing UPI payments. The RBI stated that the NPCI should bring in four to five banks capable of processing high volumes of UPI payments to serve as service providers for Paytm. The move by RBI aims to ensure the continuity of UPI payments on Paytm.
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