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The Hindu
an hour ago
- Business
- The Hindu
NPCI International adds 13 more banks in UPI-PayNow linkage to ease remittances
NPCI International Payments Ltd (NIPL), the international arm of National Payments Corporation of India (NPCI), said it has further enhanced the UPI-PayNow real-time payment linkage by adding 13 more banks on the platform, thus extending its reach and simplifying cross-border remittances between India and Singapore. This will go live on July 17, 2025, and users in both countries can remit funds to a wider base, making the service more accessible and convenient. The expanded network for remittances to India now includes 19 banks – Bank of Baroda, Bank of India, Canara Bank, Central Bank of India, Federal Bank, HDFC Bank, IDFC FIRST Bank, IndusInd Bank, Karur Vysya Bank, Kotak Mahindra Bank, Punjab National Bank, South Indian Bank, and UCO Bank alongside Axis Bank, DBS Bank India, ICICI Bank, Indian Bank, Indian Overseas Bank, and State Bank of India. Recipients in India can receive remittances from Singapore in their accounts held with any of these 19 banks through their preferred UPI enabled apps such as BHIM, Google Pay and PhonePe, as well as bank apps. Outward remittances from India to Singapore are available through Canara Bank, HDFC Bank and Karur Vysya Bank, along with ICICI Bank, Indian Bank, Indian Overseas Bank and State Bank of India. In Singapore, customers of DBS SG and Liquid Group can avail this service. The UPI-PayNow service was launched as a joint initiative between the Reserve Bank of India (RBI) and the Monetary Authority of Singapore (MAS). It facilitates real-time cross-border fund transfers between individuals, where Indian users can receive funds via UPI ID and send funds to users in Singapore via their mobile number or Virtual Payment Address (VPAs). This development is particularly beneficial for the Indian diaspora in Singapore, including migrant workers and students, bringing the ease of digital payments to everyday remittances. Ritesh Shukla, MD & CEO, NPCI International, said, 'The expansion of the UPI-PayNow linkage marks a step forward in strengthening cross-border payment infrastructure. By enabling access to more banks in India, we are deepening the reach of real-time remittances and supporting greater financial connectivity between the two countries.' 'This brings added convenience to users through a seamless and trusted platform,' he said. UPI-PayNow integration enables real-time cross-border remittance transactions, with funds reaching the recipient's bank account within seconds.
Time of India
an hour ago
- Business
- Time of India
UPI-PayNow: International remittance enabled for these 13 new banks by NPCI; Know the details
What did NPCI say about UPI-PayNow? Academy Empower your mind, elevate your skills 'With this development, which will go live on July 17, 2025, users in both countries can remit funds to a wider base, making the service more accessible and convenient. UPI-PayNow integration enables real-time cross-border remittance transactions, with funds reaching the recipient's bank account within seconds. The service leverages strong security protocols to ensure safe and reliable transfers. It is ideal for small and frequent remittances, providing users with a convenient and cost-effective way to send and receive money anytime.' List of 19 banks currently live on UPI-PayNow linkage How to use UPI-PayNow linkage for cross-border remittances? Recipients in India can receive remittances from Singapore in their accounts held with any of these 19 banks through their preferred UPI enabled apps such as BHIM, Google Pay and PhonePe, as well as bank apps. Outward remittances from India to Singapore are available through Canara Bank, HDFC Bank and Karur Vysya Bank along with ICICI Bank, Indian Bank, Indian Overseas Bank and State Bank of India. In Singapore, customers of DBS SG and Liquid Group can avail this service. What is UPI-PayNow cross border remittance service? On July 16, 2025 the National Payments Corporation of India ( NPCI ) announced the expansion of the UPI-PayNow international remittance to now include 13 additional Indian banks like Kotak Mahindra Bank Bank of Baroda and others. The overall count of participating banks is now 19 and this means customers of these 19 Indian banks can use UPI to send cross-border or international remittances to Singapore via the UPI-PayNow below to know more about this latest development in international usage of a press release dated July 16, 2025, NPCI International Payments Limited (NIPL) the international arm of National Payments Corporation of India (NPCI) said that the UPI-PayNow real-time payment linkage has been further enhanced by adding 13 more banks on the platform, extending its reach and simplifying cross-border remittances between India and press release said:According to the press release, the expanded network for remittances to India now includes 19 banks – Bank of Baroda, Bank of India, Canara Bank South Indian Bank , and UCO Bank alongside Axis Bank , DBS Bank India, ICICI Bank Indian Bank , Indian Overseas Bank, and State Bank of Shukla, MD & CEO, NPCI International said, 'The expansion of the UPI-PayNow linkage marks a step forward in strengthening cross-border payment infrastructure. By enabling access to more banks in India, we are deepening the reach of real-time remittances and supporting greater financial connectivity between the two countries. This brings added convenience to users through a seamless and trusted platform'.According to the press release here are the details of how to use UPI-PayNow linkage for cross-border remittances:In the press release it was said that this development is particularly beneficial for the Indian diaspora in Singapore, including migrant workers and students, bringing the ease of digital payments to everyday remittances. UPI is already accepted via QR codes at select merchant outlets in Singapore, further extending its UPI-PayNow service was launched as a joint initiative between the Reserve Bank of India (RBI) and the Monetary Authority of Singapore (MAS). It facilitates real-time cross-border fund transfers between individuals, where Indian users can receive funds via UPI ID and send funds to users in Singapore via their mobile number or Virtual Payment Address (VPAs). As the world's first cloud-based, real-time cross-border payment system, the initiative is a pioneering step in global payment connectivity.
News18
3 hours ago
- Business
- News18
Need Cash But Forgot Your Debit Card? SBI's UPI ATM Feature Has You Covered
State Bank of India has introduced a smart, card-free solution for such moments — the UPI QR Cash withdrawal feature. See how you can avail the cardless cash withdrawal facility In a world dominated by mobile payments and UPI transactions, withdrawing cash from ATMs has become rare for many of us. But sometimes, cash is exactly what you need. And when your debit card is lost, left at home, or simply not working, it can turn into a mini crisis. The State Bank of India's (SBI)'s latest offering — the UPI QR Cash withdrawal facility. It's a cardless, hassle-free way to get cash using just your smartphone and any UPI-enabled app. Here's How It Works: Head to any SBI ATM that supports 'UPI QR Cash." On the ATM screen, choose the 'UPI QR Cash" option. Enter the amount you want to withdraw. A QR code appears on the screen. Open your UPI app (Google Pay, PhonePe, Paytm, etc.) and scan the QR code. Enter your UPI PIN to complete the transaction. Tap 'Continue' on the ATM screen once the app confirms success. Collect your cash. Done! Why This Feature Is A Big Deal: No need to carry or remember your debit card. Great for emergencies when your card is lost, damaged or forgotten. Minimises risk of card fraud, cloning, or skimming. Works with any UPI app — no need to stick to a specific platform. You still receive an SMS and printed receipt for each transaction. advetisement This innovative solution brings extra convenience and safety to users who rely heavily on digital banking but occasionally need cash. Plus, it makes ATMs smarter and more accessible to users who may not want to carry plastic around. If you run into any trouble or need help with this feature, SBI provides customer support through their toll-free numbers: 1800 1234 or 1800 2100. You can also check their website at for more details. So next time you're short on cash but don't have your card, don't panic — just scan and go! About the Author News Desk Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! First Published: July 16, 2025, 12:57 IST Latest News 8 Quick Breakfast Ideas For Busy Mornings Lifestyle Markets Paytm Shares Cross Rs 1,000 For First Time In Six Months MSCI Buzz, Q1 Profit Hopes Auto Ford Recalls Over 850,000 Cars In US Due To Potential Fuel Pump Failure, Check Details Agency feeds Festive hiring 2025 expected to generate 2.16 lakh seasonal jobs: Report Agency feeds Technical experts from Prada visit Kolhapur, interact with artisans latest news
Yahoo
18 hours ago
- Business
- Yahoo
Top Mobile Payments Stocks to Buy to Ride the Cashless Wave
An updated edition of the May 29, 2025 article. Mobile payments encompass a wide range of financial transactions carried out using smartphones, tablets, or wearable devices, eliminating the reliance on physical cash or cards. These transactions are facilitated through tools or wallets like Apple Pay, Google Pay, and PayPal, along with technologies such as Near Field Communication (NFC), QR codes, and in-app payment systems. What started as a convenient alternative has evolved into a powerful financial ecosystem thanks to rapid fintech advancements and the widespread availability of smartphones. Innovations like blockchain and artificial intelligence are now enhancing transaction security, improving speed and reducing fraud. Meanwhile, super apps such as WeChat Pay, Alipay, and PhonePe are transforming user behavior by integrating messaging, shopping, banking, and payments into a seamless experience. The rapid expansion of mobile payments is driven by the fast-growing e-commerce and improvements in digital infrastructure. Payment platforms have matured to offer unified interfaces that connect multiple cards and accounts, maximizing user convenience. Leading companies, including Visa Inc. V, Mastercard Incorporated MA, Capital One Financial Corporation COF and Marqeta, Inc. MQ, are pushing boundaries to capture market share through innovation and deeper integration with banks and online retailers. Our Mobile Payments Screen helps uncover the most promising opportunities in this rapidly advancing industry. The COVID-19 pandemic significantly accelerated consumer demand for touch-free, secure payment options. In response to the rapid pace of innovation, global regulators are introducing new frameworks designed to enhance data privacy, facilitate cross-border transactions, and promote financial inclusion. Notable examples include the FedNow initiative in the United States, India's UPI-driven policies and PSD2 in Europe. According to Fortune Business Insights, the global mobile payments market stood at $3.84 trillion in 2024 and is forecasted to hit $4.97 trillion in 2025 and $26.53 trillion by 2032, registering a 27% CAGR. Loyalty programs, seamless experiences, and technological breakthroughs are key forces driving this delivers mobile payment capabilities through its modern card issuing platform, enabling businesses to embed digital payment solutions directly into mobile apps and digital wallets. In 2024, the company launched Marqeta Flex, a BNPL (Buy Now, Pay Later) offering developed in partnership with Klarna, Affirm, and Branch. This solution allows for seamless integration of personalized BNPL options into consumers' preferred payment platforms. Built on an open API architecture, Marqeta's platform empowers developers to create customized, flexible payment experiences. It supports a broad range of features, including real-time transaction processing, tokenization, contactless payments, and peer-to-peer (P2P) transactions. This modular design helps partner businesses to quickly adapt to changing consumer expectations while offering a highly tailored user experience. Marqeta's momentum is reflected in its financial performance. The company processed $84 billion in total volume in first-quarter 2025, marking a 27% year-over-year increase. It continues to expand globally through the modernization of its infrastructure and strategic product rollouts. One such example is the Bitpanda Card, launched across 26 European countries, which allows customers to spend both crypto and fiat currencies in everyday transactions, bridging the gap between digital assets and real-world use. Marqeta currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here. Visa offers a comprehensive suite of mobile payment solutions through its global payments network, enabling secure, fast and convenient transactions across digital channels. Its mobile payment capabilities are integrated into major digital wallets such as Apple Pay, Google Pay, and Samsung Wallet, allowing consumers to make contactless payments using smartphones, wearables, and tablets. Visa's tokenization technology secures card details during mobile transactions, replacing sensitive information with unique digital identifiers. Visa expanded its mobile payments ecosystem through partnerships with fintechs and super apps, including Paytm, GCash, and Toss, enabling in-app and QR code-based payments in key international markets. The company also introduced enhanced features for its Visa Installments platform, allowing issuers and merchants to offer BNPL options at checkout, both online and in mobile apps. Visa Direct, its real-time push payments platform, powers mobile P2P transfers and gig economy payouts globally. It has also integrated biometric authentication and AI-driven fraud detection into mobile payment flows to improve security and user trust. Through a focus on interoperability, developer APIs, and global scalability, Visa continues to strengthen its position as a mobile payment enabler across consumer, business and government segments. Visa currently carries a Zacks Rank #2 (Buy). Mastercard delivers robust mobile payment capabilities through its global payment network, enabling secure, real-time transactions. Just like Visa, MA's technology powers mobile payments for Apple Pay, Google Pay, Samsung Wallet, and other regional platforms, with advanced tokenization and biometric authentication built into every transaction for enhanced security. Mastercard deepened its presence in mobile-first markets through expanded partnerships with super apps and fintechs, including collaborations with MTN in Africa and Grab in Southeast Asia. Its Mastercard Installments platform supports BNPL services through mobile channels, giving consumers flexible payment options at checkout. The company's Click to Pay service simplifies online and in-app purchases, while Mastercard Send enables real-time P2P payments and payouts directly to mobile wallets and bank accounts globally. Its open banking APIs allow fintechs to build seamless, mobile-native payment experiences integrated with Mastercard's network. In the first quarter of 2025, it reported gross dollar volume of $2.4 trillion, up 9% year over year, and cross-border volume growth of 15%, reflecting continued momentum in digital and mobile spending. With a growing focus on embedded finance and mobile-first commerce, Mastercard remains a key driver of mobile payment innovation. It currently holds a Zacks Rank #2. Capital One provides flexible mobile payment services through its modern consumer banking platform and credit card network. The Capital One Mobile app supports digital wallet integration, enabling users to add their Capital One cards easily and make secure contactless and in-app purchases. It also offers the same rewards and cash-backs as physical cards to consumers using its mobile payment methods, which helps in customer retention. The app also features capabilities like mobile check deposit, account management tools, real-time transaction alerts, biometric login, card lock/unlock, subscription tracking and Zelle P2P transfers, all automated with AI assistant Eno for fraud alerts and seamless user experience. Capital One facilitates digital wallet payments and P2P transfers while building loyalty and user engagement through its unified mobile platform. Digital wallet-enabled card spend and interchange revenue continue to grow, supporting overall credit card revenue, which rose 6% year over year in the first quarter of 2025. Capital One's digital-first strategy, further supported by the recent Discover Financial acquisition and AI-driven support tools, positions it as a leading player in the U.S. mobile payments landscape. The company currently carries a Zacks Rank #2. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Mastercard Incorporated (MA) : Free Stock Analysis Report Visa Inc. (V) : Free Stock Analysis Report Capital One Financial Corporation (COF) : Free Stock Analysis Report Marqeta, Inc. (MQ) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
18 hours ago
- Time of India
Fast-food vendor duped of Rs 18L in Navratri stall fraud
Ahmedabad: A 54-year-old fast-food vendor from Ranip has lodged a police complaint alleging that he was cheated of Rs 18 lakh by a man who falsely posed as an event organiser for Navratri celebrations at two prominent party plots in the city. According to the FIR filed with Chandkheda police, the complainant, Satish Sirohi, stated that Vishal Shukla, a resident of New Shahibaug, collected the money on the pretext of allotting food and water stalls at Basera Party Plot on Ambli-Bopal Road and Chachar Chowk Party Plot in Nana Chiloda. Sirohi said he was introduced to Shukla by a mutual acquaintance in Aug 2024. During a visit to Sirohi's food stall in Chandkheda, Shukla pitched a business opportunity involving stall rentals at Navratri events. Though he initially proposed a partnership, Shukla later agreed to rent out stalls on a deposit basis. You Can Also Check: Ahmedabad AQI | Weather in Ahmedabad | Bank Holidays in Ahmedabad | Public Holidays in Ahmedabad Between Sep 3 and subsequent dates, Sirohi paid a total of Rs 18 lakh — Rs 50,000 in cash, another Rs 50,000 via Google Pay, and the remaining Rs 17 lakh in cash through multiple instalments, all reportedly in the presence of witnesses. However, when Navratri began in Oct 2024, Sirohi was allotted a stall only at Basera Party Plot. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You To Read in 2025 Blinkist: Warren Buffett's Reading List He was denied space at Chachar Chowk and was unable to recover the Rs 8 lakh he had paid for it. Shukla allegedly avoided his calls and kept making excuses. Sirohi later discovered from the actual organiser, Pratik Patel, that Shukla had no official role in managing stalls at Chachar Chowk and had similarly duped others. Realising he had been scammed, Sirohi approached the police. Chandkheda police have registered an FIR against Shukla under charges of cheating and criminal breach of trust under relevant sections of the Bharatiya Nyaya Sanhita and have begun an investigation.
