RBI Governor Unveils UPI Circle and BBPS for Business at Global Fintech Festival
- RBI Governor Shaktikanta Das launched UPI Circle and Bharat BillPay for Business at GFF 2024 - UPI Circle allows delegation of payments to trusted secondary users, capped at INR 15,000 monthly - BBPS for Business streamlines B2B payments, offering services like invoice management and AR/AP dashboards - EnKash and OPEN partner with NPCI to launch B2B invoice payments on BBPS for Business platform - RBI approves FACE as self-regulatory organisation for fintech sector Source: [Inc42](https://inc42.com/buzz/global-fintech-fest-2024-rbi-governor-launches-upi-circle-bharat-billpay-for-business/)
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Indian Startups on
by Babel
Yubi
RBI lifts ban on Razorpay, Cashfree; allows onboarding new merchants
Authorization will enable the payment companies to onboard new merchants onto its platform for processing online payments. Folks at these companies, how big is this? How is the company reacting?
Last year, the central bank asked Razorpay, Cashfree, PayU, and Paytm, which hold in-principal approvals for payment aggregator licence, to ...
https://www.livemint.com/news/rbi-lifts-ban-on-razorpay-cashfree-allows-onboarding-new-merchants-11702996915800.html
Fintech India on
by pinball
PhonePe
What do you think about NPCI affecting Fintech?
The National Payments Corporation of India (NPCI), a special unit of the Reserve Bank of India, plans to extend the deadline for introducing a 30% cap on the market share of individual UPI ecosystem participants, the sources said. The NPCI had initially planned to enforce the market share cap in January 2021, but postponed the deadline to January 1, 2025. TechCrunch had previously reported that the regulator was moving towards extending the deadline further after concluding that there is no practical solution to address the issue. source: techcrunch
India’s mobile payments regulator is likely to extend the deadline for imposing market share caps on the popular UPI payments rail by one to...
https://techcrunch.com/2024/05/09/india-weighs-delaying-caps-on-upi-market-share-in-win-for-phonepe-google-pay/