UPI, or Unified Payment Interface, transactions recorded about 99% increase in volume and over 90% increase in value in Q1 2022, compared to the corresponding quarter in 2011, finds the 'India Digital Payments Report' by Wordline. In Q1 2022, UPI clocked over 14.55 billion transactions in volume and â¹26.19 trillion in terms of value, says the report, adding the top remitter banks were State Bank of India, HDFC Bank, Bank of Baroda, Union Bank and Paytm Payments Bank while the top Beneficiary Banks were Paytm Payments Bank, State Bank of India, Yes Bank, Axis Bank and ICICI Bank.
Worldline prepared the report after analyzing transactions available in public databases as well as transactions processed by the company during January - March 2022 period. It said in Q1 2022, as many as 9.36 billion transactions amounting to â¹10.25 trillion were processed through payment modes like debit and credit cards, prepaid payment instruments like mobile wallets and prepaid cards, and UPI Person to Merchant and UPI P2M transactions emerged as the most preferred payment mode among consumers with a market share of 64% in volume and 50% in terms of value.
However, the report also says credit cards accounted 7% of transactions but 26% of value and debit cards accounted for 10% of transactions but 18% in value.
TOP UPI APPS
The report adds that as of Q1 2022, the top UPI apps in terms of volume were PhonePe, Google Pay, Paytm Payments Bank app, Amazon Pay, Axis Bank's app while top PSP UPI players were Yes Bank, Axis Bank, State Bank of India, HDFC Bank and Paytm Payments Bank. Among the top UPI apps, Phone Pe, Google Pay and Paytm accounted for 94.8% of UPI transactions volume and 93% of UPI transactions value as of March 2022. The Average Ticket Size (ATS) for UPI P2P transactions was â¹2455 and â¹860 for P2M transactions.
ãã®èšäºã¯ Banking Frontiers ã® September 2022 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã9,000 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã ?  ãµã€ã³ã€ã³
ãã®èšäºã¯ Banking Frontiers ã® September 2022 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã9,000 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã? ãµã€ã³ã€ã³
It's a bank and a brokerage - FinecoBank
FinecoBank of Italy is a highly tech-enabled bank that is a combination of a bank and a brokerage:
A model for cloud adoption - Zurich Cantonal Bank
The bank is had opted for cloud to offer better service to its customers:
RBI Governor urges NBFCs to adhere to fair practices code
The Reserve Bank of India (RBI) Governor has urged Non-Banking Financial Companies (NBFCs) to strictly adhere to the Fair Practices Code, emphasizing sustainable growth and robust risk management in the sector.
Automated, Adaptive, Al-enabled Architecture is a must
Security heads from 2 BFSI companies reveal the key cyberfrauds and strategies to combat them:
Fraudsters too gain ground as real-time payment systems grow
There is a need for the technologies behind the real-time payment systems to gain a march over the methods of fraudsters:
Ethics & Challenges of AI in Cyber security: Navigating the Moral Maze
Even as AI is finding its place in the cyber security domain, an entirely new frontier of ethical challenges awaits.
Bangladesh Finance: 25% faster customer service; 15% higher customer retention
Bangladesh Finance, established in 1999, is a leading financial institution in Bangladesh.
Fino sparkles with technology & brand upshift
Fino Payments Bank started operations in June 2017, providing banking services to mass market customers, who are largely rural-based.
Savington Upshifts: 48% Faster, Churn down 31%
Savington International Insurance Brokers LLC, founded in 2006 by Dev Maitra, is a prominent insurance provider in the UAE.
Zoroastrian Bank: Multiple awards for being the Best
Established in 1927 by Sir Hormusjee Cowasjee Dinshaw Adenwalla, Zoroastrian Bank is a prominent urban cooperative bank headquartered in Mumbai, India.
