Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 148]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 181]
LATEST NEWS UPDATES | Transactions on Unified Payment Interface jump 85%, cross 3-crore mark in September -AJ Vinayak

Transactions on Unified Payment Interface jump 85%, cross 3-crore mark in September -AJ Vinayak

Share this article Share this article
published Published on Oct 11, 2017   modified Modified on Oct 11, 2017
-The Hindu Business Line

Mangaluru: The number of transactions on UPI (Unified Payment Interface) platform crossed 3 crore in September. UPI, which is a mobile-only digital payment mechanism from National Payment Corporation of India (NPCI), went live with 21 banks on August 25, 2016.

The latest figures by NPCI indicate a substantial increase of around 85 per cent in the number of transactions on this platform September.

The number of transactions on UPI platform increased to 3.07 crore in September as against 1.66 crore in August, an increase of 85.32 per cent.

UPI offers seamless transaction of money on smartphone — just like sending an e-mail — with two-factor authentication. Now 57 banks are live on this platform.

Under UPI, people can transfer money using either mobile number of virtual payment address (VPA).

This helps in avoiding problems related with wrong entries of bank account number and other details.

After demonetisation last year, NPCI also came out with its own mobile app on UPI platform — BHIM (Bharat Interface for Money) — in December to make instant bank-to-bank payments and to pay and collect money using just mobile number or VPA.

However, the number of BHIM transactions increased only by 11.7 per cent in September.

Of the 3.07 crore transactions on UPI platform, BHIM’s share was 76.03 lakh in September amounting to a market share of around 24.7 per cent.

Please click here to read more.
 

The Hindu Business Line, 10 October, 2017, http://www.thehindubusinessline.com/money-and-banking/transactions-on-unified-payment-interface-jump-85-cross-3crore-mark-in-september/article9898339.ece?hom


Related Articles

 

Write Comments

Your email address will not be published. Required fields are marked *

*

Video Archives

Archives

share on Facebook
Twitter
RSS
Feedback
Read Later

Contact Form

Please enter security code
      Close