CCAvenue India : October 2018

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October 2018

People around the world use WhatsApp to stay connected. CCAvenue has leveraged the power of WhatsApp by using WhatsApp for Business to send real-time transaction confirmation messages to your customers to elevate user experience while transacting online. CCAvenue will also enable you to accept payments for invoices instantly by sending invoice details with the payment collection link to your customers on their WhatsApp. Customers can simply click on this link and complete the payment process. This feature will be available soon.

NPCI Enhances Fund Transfer Through The Launch of UPI 2.0

Since its inception in 2016, UPI transactions have increased to an impressive level. According to a report published by National Payments Corporation of India (NPCI), UPI based transactions done in July 2018 were 20 times higher than what was observed in the same month last year. UPI recordings showed transactions worth Rs.45,845 crore in July 2018 as compared to last year's readings that stood at just Rs.6,947 crore. Following such an enormous expansion, NPCI has now made yet another move to stay ahead of the curve by launching UPI 2.0 which is an upgraded version of the interface. The latest version seems to be a catalyst of growth as it gives the users a totally enhanced experience through an array of advanced features and benefits. However, UPI 2.0 did not incorporate the automated recurring payment feature, which has been a huge disappointment for the Indian digital payment industry.

INDUSTRY NEWS

End Of An Era: The RBI Issues Interoperability Guidelines For Wallets

Source: medianama

The Reserve Bank of India has finally issued guidelines for interoperability of wallets, long after the deadline set by the Watal Committee for this task lapsed.

UIDAI Tells Banks To Continue Aadhaar-enabled Payments

Source: Economic Times

The UIDAI has told banks to continue with the Aadhaar-enabled Payment System (AEPS) after some banks had suspended these services. UIDAI's call is seen as a boost for digital payments.

Data Localisation: MeitY Says Sectoral Regulators Will Define Critical Data

Source: inc42

With the RBI taking a tough stand on the data localisation mandate for payment companies, the Ministry of Electronics and IT (Meit) has taken further steps to define 'critical data' in order to avoid any ambiguities.

Over 400 Mn UPI Transactions Worth Rs.59,835 Cr Clocked In September

Source: Firstpost

Monthly transactions through UPI increased by more than 30 percent month-on-month to 405.87 million in September, totaling over Rs.59,835 crore in value, according to the NPCI.

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