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Hindustan Times
2 days ago
- Business
- Hindustan Times
Chhattisgarh: Raigarh panchayats adopt digital payment for revenue, vendors
Raipur: All 549 panchayats of Raigarh district in Chhattisgarh have adopted digital payment systems, including UPI-based transactions, for tax collections and vendor payments, an official said. The initiative, which began in the financial year 2023–24, aligns with directives from the Union government to minimise human interface and plug leakages through increased use of digital mechanisms. Since the initiative's roll-out, the panchayats have collectively mobilised over ₹10 crore in revenue during 2023–24. 'Raigarh is first district in Chhattisgarh which has started the digital payment system in village,' an official said. The district administration spearheaded the move after a central advisory encouraged digital adoption to ensure accountability and streamline revenue processes. 'Each panchayat was assigned a unique UPI ID to enable secure and swift digital transactions and to build awareness and drive adoption, local officials promoted the initiative through posters in public places, announcements in gram sabhas, and dedicated WhatsApp groups within villages,' Zila Panchayat Raigarh CEO Jitendra Yadav said. 'Digital payment is not just a technological shift—it's a governance reform. It empowers citizens, improves transparency, and enhances accountability, especially as people increasingly raise questions about fund usage in gram sabhas,' Yadav added. Yadav explained that taxes collected via UPI now include water tax, lighting tax, and building tax (all of which are annual in nature). Additionally, panchayats have begun accepting payments digitally for haat bazaar leases, mobile tower leases, mela (fair) leases, and other community space rentals. 'Vendor payments by panchayats are also increasingly being routed through digital systems, reducing the scope for irregularities and speeding up the process for beneficiaries,' he added. While all 549 panchayats of Raigarh are now on board with the digital system, some residents continue to prefer physical payment methods. 'The administration is working to bridge this gap and aims to achieve 100 percent digital adoption across all users by 2026,' Yadav said. 'The benefits are well-documented—we've included them clearly in our presentations. But the real feedback comes from the gram sabhas, where people are now more engaged and informed than ever before,' an official said.
Time of India
6 days ago
- Business
- Time of India
After UPI & Aadhaar, Centre plans digital IDs for homes, places
New Delhi: After Aadhaar-based digital identification and UPI-based digital payments , the Centre is now set to embark on bringing the 'digital address' into India's Digital Public Infrastructure (DPI) matrix. At the centre of the move is recognising " address information management " as "core public infrastructure" which is currently an unregulated space in India, despite increasing digitalisation. The aim is two-fold: One is setting up protocols to ensure citizen consent and secure address sharing across public-private sector digital entities; two is to ensure targeted, last-mile service delivery of government services to the correct address and in the quickest way possible. Steered by the Department of Posts and closely tracked by the Prime Minister's Office, the draft 'digital address' framework, complete with "addressing standards" will be put out for stakeholder discussion within a week and acquire a firm structure by year end, ET has learnt. Already on fast track, a legislative route may also be considered by the winter session of the Parliament to enable the setting up of a digital address-DPI authority/mechanism for implementing the new address ecosystem with a regulatory oversight, it is gathered. Live Events LOCATING AN ADDRESS The 'digital address' move has been triggered due to multiple reasons. The foremost being every other digital entity - from e-commerce to delivery services - seeking and saving users' "address information" and often passing it on to other interested agencies or even monetising it without the knowledge of the user, the Centre has been mulling over the need to enter the scene to ensure protocols are put in place for secure address use, only after consent is taken from the user. A clear, citizen-first protocol is expected to be drawn up for the same, including on sharing data with government entities. Apart from this, there are other concerns owing to the "poor address" system in India. Inconsistent or incomplete address descriptions, relying often on landmarks or in incompatible formats have been often found inadequate for digitalisation and consequent service delivery. Recent studies before the government estimate that incorrect/incomplete address descriptions carry economic costs close to $10-14 billion which is about 0.5% of the GDP. Concerned over the issue, the Centre set up a Thematic Working Group on "addresses" in December 2023 under the National Geospatial Policy to formulate "addressing standards". The revamped Post Office Act of 2023 also paved the way authorising the Centre to prescribe address standards, usage of postcode and so on. DIGIPIN IS THEY KEY A sectoral Group of Secretaries in 2024 identified the Digital Postal Index Number (DIGIPIN) project as a key enabler to "transforming public service delivery". While a regular postal address depends on locality, street, and house numbers, DIGIPIN is a geospatial reference using a 10-character alphanumeric code based on the exact coordinates of a location, with reference to an all-India grid. The DIGIPIN, therefore, can significantly simplify address management by providing "precise location-based identification, especially in areas with unstructured or changing addresses" especially rural regions, forests and so on.
India Gazette
26-05-2025
- Business
- India Gazette
Union Minister Piyush Goyal meets Paytm founder, discuss making India digital payments powerhouse
New Delhi [India] , May 26 (ANI): In a significant step toward strengthening India's position in the global digital economy, Union Minister of Commerce & Industry Piyush Goyal, met with Paytm Founder and CEO Vijay Shekhar Sharma to discuss the future of fintech, digital payments, and inclusive e-commerce in India. During the discussion, Minister Goyal highlighted the government's vision of making India a global fintech and digital payments powerhouse. The conversation focused on the potential to export India-made payment systems to the world -- a domain where Paytm has been a pioneering force with innovations like mobile payments, QR based payments, Soundbox, card machines and UPI-based services. The two also discussed the inclusive potential of the Open Network for Digital Commerce (ONDC). With a strong emphasis on empowering neighbourhood Kirana stores and small business owners, the meeting explored how platforms like Paytm can help onboard these merchants into the formal digital ecosystem -- improving access, transparency, and economic opportunity. Following the meeting, Paytm posted, 'Thank you Hon'ble Minister @PiyushGoyal for the insightful discussion. We are committed to building for India and taking innovations from India to the world.' According to a company release, as one of India's leading mobile payments and financial services platforms, Paytm continues to drive technology-led growth with an unwavering focus on empowering small merchants, expanding UPI innovation, and contributing to India's digital economy goals. Paytm is the only payments platform that innovates user-centric products from downloading UPI statements in pdf and excel to hide or unhide payments and check bank account balance on the Paytm app, the release further states. This meeting reaffirms the collaborative effort between the private sector and the government in building a future-ready, globally relevant fintech ecosystem -- made in India, for the world. (ANI)
Time of India
26-05-2025
- Business
- Time of India
Online pay aggregators focus on anti-fraud tech to up revenues
Large online merchant-focused payment aggregators (PAs) are building software platforms for fraud detection and deploying them in banks and other fintech companies . It comes at a time when revenue generation from core payments business has become tougher owing to severe competition and pricing regulations by the government. Payment companies are building software-as-a-service play for their enterprise clients and using it for recurring revenue generation. Major PAs such as PayU , Razorpay and PhonePe have built fraud detection tools to protect their customers and prevent frauds in their systems. Now they are pitching these tools to banks, offering them a higher degree of safety for their customers as well as better transaction success rates. A senior industry executive told ET that globally firms such as Visa and Mastercard offer advanced fraud detection services for card payments and that India payment companies are moving in this direction along with mobile-based payments. ETtech Live Events 'The regulator has licensed some 50 online Pas. Now all of them are chasing the large ecommerce merchants to grab a significant chunk of the payments value. But revenue generation has been a challenge, hence they are focusing on building value-added services,' said the executive, who did not wish to be identified. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Besides, given that almost every community bank, cooperative bank and mid-sized private sector lender now offers digital payment solutions such as debit cards and Unified Payments Interface (UPI) to their customers, technology service providers for advanced fraud detection. 'There are 668 banks live on UPI, as per the NPCI's latest count. Smaller banks cannot build technology on their own and we are already doing this for our own payment processing, hence we can easily help them,' the founder of a digital payments startup said on condition of anonymity. Through the technology stack, payment companies can ensure transactions are being undertaken by the actual customer, un-natural payment behaviour is stopped and genuine beneficiaries actually get the payments. They can also offer merchant verification services, which ensures that genuine merchants process transactions. ETtech 'While we already work with large banks to address their payment fraud needs, there are many mid and small-sized financial institutions that need strong technology solutions to fight payment fraud. We are also targeting this segment and the opportunity is significant,' said Anirban Mukherjee, chief executive officer, PayU. PayU offers fraud detection services to banks through Wibmo, which it acquired in 2019. Walmart-backed PhonePe, which is a leader in UPI-based payments, is also doubling down on merchant payments. Fraud detection is also a major focus for the Bengaluru-based company now. It is targeting large enterprises as potential customers. PhonePe's platform offers real-time detection and also allows banks to build their own rule engines which can detect abnormal patterns around digital payments. PhonePe did not respond to ET's queries. Razorpay, another large payments processor, is also developing its own fraud detection tool and is in the process of pitching to banks. The payments major is working with two of India's top six card-issuing banks, along with several mid-sized banks and fintechs. Responding to ET's queries Arif Khan, Chief Innovation Officer, Razorpay said the company has built a white-labelled solution for banks. 'It is an authentication engine that enhances transaction success rates while ensuring robust security—helping businesses prevent fraud and offer a secured payment experience,' he added. India's digital payments ecosystem has grown exponentially over the past few years — in April alone, around 600 million card transactions and around 11 billion UPI-based transactions were reported — but so have the cases of fraud. This has necessitated software services which can help banks, fintechs and the entire ecosystem to stay ahead of attacks from cybercriminals. While these payment firms are securing banks and enterprises from payment frauds, there are other fintechs which are building fraud detection for the larger ecosystem. Players such as Bureau, Datasutram and Clari5, which recently got acquired by Perfios, also offer multiple fraud detection tools for digital lenders, wealth management platforms and banks to help in customer onboarding and know-your-customer verification.
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Business Standard
23-05-2025
- Business
- Business Standard
No annual fee, 3% cashback: Axis Bank-super.money RuPay credit card is here
Axis Bank — one of the country's top private sector banks — has partnered with the Flipkart Group's credit-first UPI platform, to launch a new lifetime-free co-branded RuPay credit card. This payment solution blends high rewards, UPI-enabled convenience, and zero annual fees, making it a compelling choice for users looking to maximize value on everyday spending. The Axis Bank RuPay Credit Card supports UPI, POS terminals, online purchases, and ATM withdrawals, giving users the freedom to transact anywhere — digitally or physically. Its standout feature is a 3% cashback on UPI-based 'Scan & Pay' transactions via the app, and a 1% cashback on all other eligible spending categories. Key benefits for users: 3% cashback on QR code-based credit transactions made using the app 1% cashback on all other spending (excluding standard exclusions such as fuel surcharge) Rs 500 cashback cap per billing cycle 1% fuel surcharge waiver on transactions between ₹400 and ₹4,000 (up to ₹400 per cycle) No joining or annual fees, making the card lifetime free Availble in both digital and physical formats The card runs on RuPay, India's indigenous card payment network, which has seen massive adoption thanks to its integration with UPI. What sets it apart? This is not just another cashback credit card. It taps into India's growing UPI-first ecosystem, allowing credit card holders to earn rewards not only on traditional card swipes but also on UPI QR scans — something not typically offered by other credit cards in the market. It's a win for users who prefer QR-code payments but also want to benefit from credit card perks. For example, a customer spending Rs 10,000 monthly via UPI QR scans through the app can earn Rs 300 in cashback. Over a year, that adds up to Rs 3,600 in direct savings — with no fees involved. Why it matters? As consumers increasingly adopt UPI for day-to-day payments — from groceries to local transport — the Axis Bank RuPay Credit Card bridges the gap between UPI convenience and credit card rewards. How to Get It: Interested customers can apply directly through the app, where onboarding is expected to be fully digital, hassle-free, and instant. The credit card will also be available through Axis Bank's platforms. "The card offers unparalleled benefits, including FLAT 3% cashback, making it a game-changer for users seeking maximum value from any transaction," said Prakash Sikaria, Founder & CEO of RBI data reveals at end-February 2025, the number of credit cards has more than doubled to around 10.93 crore as compared to December 2019, when there were 5.53 crore cards in circulation.
