As India’s UPI has surpassed the industry giant, Visa, with over 650 million daily transactions, we prepared a brief illustration of the global payment networks’ processing volumes and values. Can real-time payments beat the cards?
India’s UPI has gone from a domestic game-changer to the world’s leading real-time payment system in less than a decade of its existence, surpassing the industry giant – Visa – with over 650 million daily transactions.
The global payment landscape is rapidly changing driven by a seismic shift in popular transaction methods. A closer look at payment statistics reveals that account-to-account (A2A) transfers are ascending in importance. Its growing dominance among other payment types is especially evident in the European market.
The media published information according to which Amazon invested Rs 350 crore (about $41 billion) in Amazon Pay India.
The media published information according to which Apple accelerated the implementation of its plan to source all iPhones to the United States from India, which is a kind of response from the technology giant to the new US tariffs.
Money transfer leader Western Union has united efforts with Indian multinational IT company HCL Technologies (HCLTech), reversing the trend of remittance players using little to no AI.
United States-based chip toolmaker company Lam Research said it will invest more than 100 billion rupees ($1.2 billion) in the southern Indian state of Karnataka in the next few years.
The Indian fintech startup Cashfree Payments has raised $53 million in a Series C funding round to accelerate the market growth of its innovative payment solutions across multiple digital sectors.
In India, cryptocurrency traders may face significant tax penalties due to previously undisclosed profits under new amendments to the tax legislation of this South Asian country.
UPI app users are advised to check with their service providers to confirm compliance with the new guidelines, ensuring uninterrupted transactions flow.
India is planning a GenAI project tailored to the nation’s unique cultural and linguistic diversity.
Indian fintech Slice Bank is looking to raise between $250-$300 million to expand its offering with merchant services.
The digital payment revolution in India has extended beyond its major metropolitan areas and is now thriving in non-metro cities as well.
India’s largest retail stock trading platform Groww is eyeing an initial public offering (IPO) this year.
Microsoft chief executive officer Satya Nadella announced last Tuesday, January 7, that the company would spend $3 billion to expand its Azure cloud and artificial intelligence capacity in India.
In 2024, the Indian startup ecosystem recovered strongly, with funding exceeding $12 billion across 993 deals.
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