NPCI | Pixr8 News

Google Pay Updates its Privacy Policy Soon After Paytm’s Complaint

22Sep By Gauri SinghNo Comments

Tech

Google Pay Updates its Privacy Policy Soon After Paytm’s Complaint

Google has reportedly updated the privacy policy of its Indian digital payments application Google Pay, days after the homegrown rival Paytm complained that the tech giant's platform allowed disclosure of customer data for advertising and other purposes. In a letter to the National Payments Corporation of India (NPCI), Paytm complained that Google Pay's privacy policy amounted to "clear disregard for a consumer's need for privacy". Google Pay's privacy policy had stated that it could "collect, store, use and/or disclose" personal data and "any communications made through Google Pay". Further, Google stated that it had updated its privacy policy and dropped the word "disclose" from its privacy clause. Also, it stated that the changes were made to make it easier for customers to unders...

UPI Payments Received 30% Growth in June Month

4Jul By AnkitaNo Comments

INDIA

UPI Payments Received 30% Growth in June Month

According to the data available with the National Payments Corporation of India (NPCI), India's unified payments interface (UPI) payments received 30 percent growth, over 246 million users in June month. A total of 246.37 million UPI transactions were conducted in June this year, as against 189.48 million in May 2018, recording the highest month-on-month rise for this year, the data showed. The total value of these UPI transactions stood at Rs 40,834.03 crore in the month of June as compared to Rs 33,288.51 crore in the preceding month, it added. During the conversation with Pixr8 News, PhonePe Head of Payments and Financial Services Hemant Gala said our platform drove over 50 million UPI transactions at over Rs 100 billion total payment value (TPV) in June. "We are also one of...

WhatsApp Claims to Share Only Limited Payment Data With Facebook

11Jun By Gauri SinghNo Comments

News

WhatsApp Claims to Share Only Limited Payment Data With Facebook

The well-known messaging app Whatsapp has stated that it shares only limited data of payment service with its owner firm Facebook and the parent company does not utilize the data for the commercial purpose. The messaging app has been lately working on its payment feature had to postpone the launch due to the ongoing Facebook data scam. Whatsapp payments service has partnered with UPI to launch an in-app payment service on its platform and, at present, is in beta version in India. Its users are concerned how much of their information is being shared with Facebook and how is the social media using it. This is the reason why WhatsApp has been compelled to put up an explanation in this regard. On its official website, Whatsapp claimed, "Facebook does not use WhatsApp payment information fo...

IT Ministry Questions NPCI for details on WhatsApp Pay

1Jun By Lavina TolaniNo Comments

INDIA

IT Ministry Questions NPCI for details on WhatsApp Pay

The Ministry of Electronics and IT (MeitY) has issued a fresh letter to National Payments Corporation of India (NPCI) seeking details about the digital payment service of Facebook-owned platform WhatsApp that is due to be formally launched in India this month. The government body which had earlier sought clarifications from the NPCI on WhatsApp Payment service issued a fresh letter this week asking details on data storage policy of US-based service and how data will be shared with its parent company. MeitY, in particular, has raised objections over WhatsApp not complying with two-factor authentication laid by India's Apex Bank RBI in addition to expressing concerns over the management of user's data. A copy of the letter has also been sent to RBI. Lack of a two-factor authenticati...

MobiKwik Launches UPI on its Platform via its own VPA Handle

25May By Lavina TolaniNo Comments

News

MobiKwik Launches UPI on its Platform via its own VPA Handle

The Indian digital financial service platform, MobiKwik has announced to launch Unified Payments Interface (UPI) on its platform through its own VPA handle called “@ikwik” for making payments unlike the one offered by non-banking entities. The company has also assured its users about safety being given utmost priority so that users don't have to worry about data issues even in the case of loss of SIM or device. Additionally, the digital wallet company has claimed to be the first in offering UPI access to a huge base of 3 million merchant payments. Moreover, its UPI app is 100% in compliance with NPCI guidelines and has been declared "most safe" UPI app by NPCI. MobiKwik users will now be able to use their mobile number as their own VPA by default which will be "ikwik". Multiple us...

Decoding World’s First Interoperable Quick Response (QR) Code BharatQR

9Mar By NitishNo Comments

BLOGS

Decoding World’s First Interoperable Quick Response (QR) Code BharatQR

Bharat QR, the world’s first interoperable Quick Response (QR) code acceptance solution, has been developed by Mastercard in collaboration with National Payments Corporation of India (NPCI) and Visa. American Express is also on board to adopt these standards. The payment solution is expected to revolutionize the payments landscape altogether, besides driving greater acceptability and adaptability among the masses with its inherent ease of use and low cost of deployment. We are decoding BharatQR in 6 easy steps for consumers to understand the new payment method: