UPI payment is a revolution in India with billion of users using different apps to pay, that too for free. Then how do the UPI service providers earn money? Watch here.
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January 09 UPI has emerged as the most preferred medium of money transfers or bill payments. You would be surprised to know that alone in December 2024 approximately 1700 crore transactions were conducted through UPI transferring an amount of 23 lakh crore. The most surprising thing is that all these transactions have been free of cost to the users. So the big question is that how do UPI service providers earn money from? Actually, there are many other ways of their earning. One source is the Commission income. All of UPI...
March 28 UPI Unified Payment Interface (UPI) is a popular mobile payment method that allows you to transfer funds from one bank account to other, instantly and free of charge. Transferring money through UPI requires each user to have an ID, termed as UPI ID, which is a unique identification for a bank account that is used to send and receive funds from one bank to another. It allows individuals to request money from some other individual, which is not an option with other payment methods like IMPS, NEFT, etc. These are simplified,...
March 23 Financial Market Infrastructure (FMI) is defined as a multilateral system among participating institutions, including the operator of the system used for the purposes of clearing, settling, or record payments, securities, derivatives, or other financial transactions. फाइनेंशियल मार्केट इन्फ्रास्ट्रक्चर (FMI) को भाग लेने वाले संस्थानों के बीच एक बहुपक्षीय प्रणाली के रूप...
January 13 Mint - Non Resident Indians (NRIs) will soon be able to make payments in Unified Payments Interface (UPI) without having to get an Indian mobile number. The National Payments Corporation of India (NPCI) has allowed NRIs 10 countries to digitally transfer funds using the UPI platform from NRE/NRO accounts. Read more
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