The card will have several features including spend-based cashback points and milestone benefits. It will also drive convenience by enabling customers
UPI mode of payment preferred by 25% families
Using the Autopay option of UPI, users can enable recurring payments for entertainment or OTT subscriptions
Banknotes in circulation in value terms soared to Rs 29.17 lakh crore on October 29, 2021, from Rs 17.74 lakh crore on November 4, 2016.
UPI is now also available for non-Internet based mobile devices (smartphone as well as basic phones) in the form of a dialling option
Digital payments made on UPI platforms and wallets increased to almost 3.25 billion in July as against 1.5 billion in the year ago period
You can set up AutoPay for a maximum of Rs 5000 per SIP using UPI as the payment mode. Th limit is Rs 1,00,000 per SIP using net banking/debit card.
UPI-PayNow linkage will enable users of each of the two fast payment systems to make instant, low-cost fund transfers on a reciprocal basis
Recharges, bill payments and P2P categories are higher in tier-2 cities, as UPI has been the first digital bill payment option for many
Those who have applied for the authorisation or in the advanced stages of submitting their proposals include Tata Group, Amazon, and Paytm