The National Payments Corporation of India (NPCI) has finally allowed Facebook-owned messaging platform “WhatsApp” to roll out its payments service in the country in a “graded” manner. The announcement by NPCI came after the organisation made a crucial change to its regulations concerning the use of the Unified Payments Interface (UPI). The change puts a limit on single third parties such as WhatsApp or its rivals Google Pay and Walmart’s PhonePe where they can only handle 30 per cent of overall UPI transaction volumes.
WARRIOR 4.0 | Banking Awareness Batch for SBI, RRB, RBI and IBPS Exams | Bilingual | Live Class
The NPCI runs the Unified Payments Interface (UPI) used for real-time payments between peers or at merchants’ end while making purchases. The UPI channel has rapidly grown to become India’s most favoured mode of digital transactions since its launch in terms of volumes.
Important takeaways for all competitive exams:
In Uttar Pradesh, certain areas are recognized by specific regional names that highlight their historical,…
Haryana is a state in northern India known for its rich history and industrial growth.…
The NITI Aayog has recommended adding coking coal to India's critical minerals list, emphasizing its…
UK Prime Minister Keir Starmer announced the resumption of Free Trade Agreement (FTA) negotiations with…
COP29 marked a significant milestone in global efforts to address climate change within the tourism…
Bali is home to a rich cultural heritage that blends Hindu philosophy, local animist traditions,…