Digital payments articles
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RBI digital payments: Track fishy transactions, RBI tells payment firms
The Reserve Bank of India has directed all regulated payment companies to track high-value or suspicious transactions during the course of general elections, according to multiple senior executives in the know.In a letter dated April 15, the RBI asked payment system operators (PSOs) to prevent any potential misuse of electronic fund transfer mechanisms to influence voters or indirectly fund poll candidates.ET has seen a copy of the letter.“The regulator wants payment companies to track...
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BHIM looks to bulk up with ONDC to take on digital payment heavyweights
Payments app BHIM or Bharat Interface for Money will soon become available on the government-backed nonprofit Open Network for Digital Commerce (ONDC), with an aim to counter the dominance of Google Pay and Walmart-backed PhonePe in India’s digital payments sector, people aware told ET.BHIM, developed by the apex group for digital payment systems in the country — National Payments Corporation of India (NPCI), will foray into the ecommerce arena on ONDC through a separate division, they...
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Amarillo City Transit to begin offering digital payment options
Amarillo City officials announced that the Amarillo City Transit will be offering digital payment option to customers.