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The Unified Payments Interface has been a key driver in India's digital payment ecosystem.
Axis Bank, HDFC Bank, State Bank of India, and YES Bank will act as Payment System Provider (PSP) banks to Paytm.
India's NPCI International Payments Limited (NIPL) and Central Bank of Sri Lanka-owned LankaPay joined hands to provide a seamless payment solution to tourists with the launch of UPI services.
No penal interest on loans, vehicles to cost more, and no paper form for SIM cards are some of the changes coming into effect from January 1.
UPI has emerged a preferred mode of payment for a large section of the population with over 11.23 billion transactions recorded in November.
Scamsters who target well-meaning tourists and pilgrims are thriving in busy temples, pilgrim centres, parking lots, ATMs and more.
If your UPI account is linked to more than one bank account, you can select the account from which you want to debit money.
The repeated instances have left the customers worried, but banks express their helplessness to intervene and solve the issue.
Downdetector, the website that tracks outages globally, has also reported the issue with SBI.
All UPI transactions made via prepaid instruments will attract an interchange fee of 1.1% for merchant payments above Rs 2,000 from April 1.
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