Fintech News Bytes

Awesome-UPI-sauce!

According to NPCI MD and CEO Dilip Asbe, the upcoming in-app feature is expected to resolve 80-90% of payment failures in real time. The feature will make its debut in September 2022.

NPCI To Roll Out Real-Time Payment Dispute Resolution For UPI Soon

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Google nooooooo :exploding_head:
This is going to be so weird.

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Ha, this is going to be fun. It’s going to make the app copy playful. Google’s deep expertise in the language space is helping them.

Imagine the text changing randomly based on an event or season? :wink:

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Event alert!

The brightest mind in the fintech space is on a talk show hosted by Pine Labs tomorrow to discuss everything UPI and the future of fintech.

Nikhil Kumar was one among the team behind the now ubiquitous UPI before starting his own fintech company.

Register now: http://bit.ly/3wGvYbb

PS: I’m sure he’s going to talk about the trending fintech offerings- Open Banking and BaaS (Banking as a Service).

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Yooo, good :face_with_hand_over_mouth:

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While we are still six months away from the proposed January 2023 timeframe, a new report highlights that the government is planning to extend the deadline.

PhonePe and Google Pay to Get More Time to Adhere to 30% UPI Market Cap: Report- PhonePe and Google Pay to Get More Time to Adhere to 30% UPI Market Cap: Report | Beebom

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Credit Card owners, rejoice! :credit_card:

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Oh ho! Paytm now charges a processing fee on mobile recharge. The user can be charged Rs 1 to Rs 6 as a processing fee for mobile recharge!

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This was some BNPL service providers USP. Now that it’s getting integrated to the UPI interface :wink:

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:uh_oh:

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The Enforcement Directorate (ED) has told payment gateways and banks to freeze the accounts of around 100 fintech firms!

“Customers should first check whether the app they are borrowing from is registered with the RBI or not. All details pertaining to registration of digital money lenders is available on RBI’s website”

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The Reserve Bank of India (RBI) has increased the limit of e-mandates on cards for recurring payments from INR 5000 to INR 15,000.

15k! :blob_worried:

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OneCard feature introductions :v:

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Updated the app but yet to experience these features.
Nowhere available inside the app.

Click profile icon…

Ah, now I see.
Thanks mate.
BTW can anyone help me understand this

I believe it means, Excess amount greater than a percentage of your credit limit or 5000 will be transferred to your bank account. Meaning if you have 1 lakh credit limit and you have 1,05,000 in your card, that 5000 will be transferred to your bank as it exceeds your credit limit (This usually happens when you get a refund and you don’t have a bill for a bank to settle that funds into). However if you have less than 1% of your credit limit exceeding the limit, like 1,00,020 that will stay and won’t be transferred.

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