News Analysis India

Tag: United Payment Interface

  • PhonePe Users Can Now Make Payments Through UPI In Singapore |

    New Delhi: Fintech firm PhonePe on Wednesday said its users can now make payments through UPI in Singapore under a pact signed by the company with The Singapore Tourism Board. The collaboration has been built upon the existing Unified Payments Interface (UPI) linkage between India and Singapore, which allows customers to instantly make cross-border transactions between the two countries directly from their existing Indian bank accounts.

    “Singapore Tourism Board (STB) and PhonePe enter a two-year strategic partnership to promote UPI payments for Indian visitors in Singapore,” PhonePe, a decacorn, said in a statement. (Also Read: ‘You Give More Money To Govt Than Spend On Yourself’: Social Media Post On Income Tax Concerns Goes Viral)

    Privately-held companies with a valuation of over USD 10 billion are termed decacorn. As part of the partnership, STB and PhonePe will invest in joint marketing efforts across India and Singapore, to promote seamless UPI experiences across key tourism hotspots. (Also Read: High-Security Alert For Apple Users! CERT-In Asked To Deploy Immediate Measures)

    “This partnership exemplifies our dedication to enhancing the Singapore visitor experience for discerning, tech-savvy consumers,” STB Chief Executive Officer Melissa Ow said.

    Under the collaboration, Indian travellers can now use the PhonePe app for instant, seamless, and secure payments across over 8,000 merchants in Singapore, enhancing their experience in the island city.

    “Partnering with STB will facilitate ease of transactions for PhonePe users who now can just pay directly from their existing bank account by scanning a QR code when visiting the island city,” Ritesh Pai, Chief Executive Officer, PhonePe, International Business for PhonePe Private Limited, said.

    PhonePe also processes over 230 million daily transactions with an annualised Total Payment Value (TPV) of more than USD 1.5 trillion.

  • Cyber Attack, Data Breach Among Top Risks For Businesses In India: Survey |

    New Delhi: Cyber attacks and data breaches are the top business risks for organisations in India, according to the 2023 Global Risk Management Survey. Cyber attacks and data breaches were placed seventh in the 2021 business risks survey.

    Global professional services firm Aon collected inputs from around 3,000 risk managers, c-suite leaders, treasurers, talent professionals, and other executives from 61 countries and territories to identify the most pressing business challenges. (Also Read: Free Aadhaar Update Deadline Extended: Check List Of Required Documents To Do The Same)

    The biennial survey said that India’s dependency on technology is likely to increase with the widespread adoption of digital infrastructure like the Unified Payments Interface, Aadhaar, and Open Network for Digital Commerce. (Also Read: Poco X6 5G Gets A Significant Price Drop On Flipkart: Check Details)

    “With increasing digitisation, cybercrimes continue to become rampant with costs and complexities associated with such breaches forcing organisations to look at risk mitigation and transfer mechanisms to better manage cyber risks,” the survey noted.

    Business interruption and failure to attract or retain top talent were marked as the second and third biggest risks facing organisations in India, respectively.

    “There is a compelling need for Indian businesses to leverage advanced data analytics and experts to understand and manage the dynamics of integrated risks,” said Nitin Sethi, Chief Executive Officer of Talent Solutions in India at Aon.

    Failure to meet customer needs, rapidly changing market trends, supply chain disruptions, and personal liabilities were marked down the list as other critical challenges for businesses in India.

  • BHIM Payments App Offers Up To Rs 750 Cashback: Here’s How To Avail It |

    New Delhi: Looking to save some extra cash while making payments? Well, look no further! The BHIM payments app is here with some alluring cashback offers that are bound to make your transactions even more rewarding. With a limited-time offer on the table, users have until March 31, 2024, to grab these deals and enjoy some extra cash in their pockets.

    As we dive into the details, remember that combining two different cashback offers is the key to unlocking the full Rs 750 reward. Let’s break it down for you. (Also Read: Did You Know India’s Youngest Billionaire Is Only 27 Years Old? Know All About Him)

    Flat Rs 150 Plus Rs 600 Cashback Offers: How To Claim?

    For those who enjoy dining out or traveling, the BHIM app is offering a flat cashback of Rs 150. Simply make transactions exceeding Rs 100 for food and travel expenses through the app, and receive a flat Rs 30 cashback each time. (Also Read: Why RBI Taken Action Against Paytm Payments Bank? Check What Governor Shaktikanta Das Says)

    Whether it’s booking railway tickets, taking cab rides, or paying restaurant bills via the merchant UPI QR code, you can earn up to Rs 150 in cashback. Just remember to claim this offer at least five times to unlock the full amount.

    In addition, Rupay credit cardholders can link their cards to the BHIM App and unlock a whopping Rs 600 cashback offer.

    This includes Rs 100 cashback on the first three transactions exceeding Rs 100 each, followed by an extra Rs 30 cashback on the subsequent 10 transactions exceeding Rs 200 each month. Make sure to complete all these transactions to enjoy the full Rs 600 cashback reward.

    1 Percent Cashback On Fuel Payments

    But wait, there’s more! BHIM App is also offering the Urja 1 percent scheme, giving users a flat 1 percent cashback on all fuel payments, be it petrol, diesel, or CNG.

    Moreover, this benefit extends to utility bill payments such as electricity, water, and gas bills, provided the transaction amount is Rs 100 or more. Enjoy the convenience of cashback directly credited to your primary bank account linked to the BHIM app.

    Deadline

    These enticing cashback offers on the BHIM App are available until March 31, 2024.