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PhonePe Payment Gateway on Saturday launched ‘PhonePe PG Bolt’ for Visa and Mastercard credit and debit card transactions, aiming to offer a faster and more secure in-app checkout experience for users and merchants, PTI reported.The solution uses device tokenisation to enable secure payments within apps for users on the PhonePe platform as well as merchant…
The number of ATMs in the country declined as people shifted digital payments. The e-payments network reduced customers’ need for cash withdrawals, even as bank branches continued to expand, a Reserve Bank of India (RBI) report said.Private banks led the contraction, cutting their ATM network to 77,117 from 79,884, while public sector banks reduced their…
NEW DELHI: India and New Zealand have committed to collaborate on developing domestic payments interoperability and supporting real-time cross-border remittances and merchant payments through the integrated Fast Payment Systems (FPS) as part of the trade pact agreed between the two countries.This move strengthens India’s digital payments ecosystem and fintech sector, enhances remittance flows from the…
The UAE just made Digital Dirham equal to paper money / Image source: File The Central Bank of the UAE (CBUAE) announced a landmark financial ruling this week, confirming the Digital Dirham has been officially designated as full legal tender, placing the nation’s e-currency entirely par with physical cash. Issued under the authority of the…
Kuwait outlaws cash payments for gold and jewellery / AI-generated illustration Kuwait has ushered in a new era for its precious metals market, making a bold move that aligns it with international best practices. The Ministry of Commerce and Industry recently issued a landmark decision that completely bans cash payments for the purchase of gold,…
