Digital payment transactions through the Unified Payment Interface (UPI), cards and mobile wallets have made a near V-shaped recovery this month.

The Reserve Bank of India (RBI) on Monday directed payment systems operators to undertake targeted multi-lingual campaigns by way of SMSs and advertisements to educate their users on safe and secure use of digital payments amid incidence of frauds continuing to bedevil people.

Eko's network of over 200,000 entrepreneurs, retailers, and individuals, across 200 cities in India has been instrumental in bringing about this ease to the lives of migrants.

Mobile-based payments will be resilient and overtake card payments in India, with the covid-19-induced economic slowdown likely to put a pause on the rapid rise of cashless payments in 2020.

COVID-19 could be the “demonetization moment” for digital services delivery in India.

Paytm has expanded Paytm Postpaid facility to offline retail outlets and neighborhood kirana shops.

Paytm ties up with Non-bank financial institutions (NBFCs) to use past-transaction data to assign credit limits for loans for daily purchases of grocery, retail goods.

Credit and Finance for MSMEs: Digital lending platforms with the principles of financial inclusivity will emerge as the heroes of the financial crisis.

Digital payments saw a revival in May, after the government granted some relaxation during the third and fourth phases of the lockdown.

Through informal communications, many banks have conveyed to NBFCs and micro lenders that they aren’t in favor of extending the moratorium, said at least three NBFC industry officials.