upi

Summarised by Beize from a story on Inc42 on 24 Apr 2026

NPCI cuts daily UPI transactions to 10 to stop incentive driven fake activity

NPCI, the body behind India’s UPI payments system, has tightened rules by capping daily transactions per account at 10. This is a drop from the earlier limit of 20, introduced via a circular dated October 21. The move targets artificial, incentive-driven transactions that can distort usage patterns on the platform.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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PhonePe surges past 1000 crore UPI transactions in March as Google Pay and Paytm lose share

PhonePe strengthened its lead in India’s UPI ecosystem in March, with transactions up 88% to 1,050 crore and overall UPI volume hitting record highs. NPCI data shows the month’s transaction value climbed to 29.53 lakh crore. Google Pay and Paytm saw slight market-share declines, while smaller players like Navi and super.money gained modest ground. Regulatory moves on PPIs and new UPI use cases also loom.

Inc42

Summarised by Beize from a story on Inc42 on 24 Apr 2026

PNB partners with Kiwi to launch RuPay credit card with UPI support for 180 million users

Punjab National Bank has teamed up with Kiwi to launch the RuPay-based PNB Kiwi Credit Card, bringing digital onboarding, UPI integration, and 0.5%–1.5% cashback. The bank says the partnership targets faster credit access for India’s expanding UPI users, with an emphasis on semi-urban and rural customers who are increasingly adopting UPI payments.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

RBI’s new payment rules shift compliance burden and quietly open the door to cross border UPI

RBI has introduced a new framework for licensed payment aggregators and payment gateways for cross-border merchant payments, making them fully responsible for PMLA compliance and suspicious transaction reporting. The regulator aims to bring clarity and clearer ownership to merchant payments, while also allowing UPI to be used—raising hopes for a true India cross-border payments upgrade.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

RBI draft rules tighten PPI compliance while expanding UPI linked wallets for foreign visitors

The RBI has released draft guidelines for prepaid payment instruments, focusing on stronger compliance and better customer protection. The proposal highlights expanded use of UPI-linked wallets for foreign visitors and deeper integration between prepaid instruments and UPI rails. The RBI also plans stricter handling of dormant balances, signaling tighter oversight for issuers and platforms.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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Akshaya Tritiya 2026 shifts to prepaid and offers as tier 2 tier 3 cities lead

Akshaya Tritiya 2026 reshaped jewellery buying, with tier 2 and tier 3 cities driving growth and prepaid transactions taking center stage. Shoppers increasingly chose lightweight gold for a balance of cost and aspiration, while digital-first brands gained ground. UPI and financing options also boosted spending, and beauty emerged as a major category—pointing to a durable change in festive shopping habits.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

India’s coin presses fall silent as UPI drains cash wallets away

As UPI and digital wallets grow fast, India’s coin presses are reportedly slowing and going underused. The shift is leaving the currency system in limbo, with overlapping coin denominations and an unclear withdrawal policy. With cash demand weakening, mints that once ran steadily now struggle to stay relevant amid a digital payment surge.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

UPI Set to Launch in Israel as Modi and Netanyahu Sign Major Payments Deal

India has signed an agreement to bring its Unified Payments Interface UPI to Israel after Prime Minister Narendra Modi’s state visit. The move signals a major push to take India’s instant digital payments rails beyond borders, potentially enabling smoother money transfers and payments between consumers and merchants in both countries.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

UPI growth skips rich states as cash comfort wins Gujarat Karnataka Delhi

A surprising gap is emerging: India’s wealthiest states are moving to cashless payments more slowly, even as UPI adoption accelerates in many others. States such as Tamil Nadu and Andhra have led digital-payment growth, while Gujarat, Karnataka, and Delhi lag. The paradox points to how prosperity can shape payment habits differently than expected.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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UPI banks choke under volume growth two practical fixes can restore speed and reliability

NPCI’s profits are rising, but banks running UPI payments are struggling to handle the growing transaction load. Industry guidance points to performance upgrades that range from quick, straightforward changes to more complex system overhauls. The goal is to keep UPI processing fast and reliable as volumes surge.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

ONDC Swadeshi ambitions hit a speed bump as Paytm’s role faces sharper scrutiny

ONDC’s ride has reportedly hit a speed bump, raising questions about how quickly the network can regain momentum. Analysts point to a tough mix of needs: more capital, active buyer-side app participation, stronger industry partnerships, and policy nudges to rebuild user interest. The focus now shifts to whether leadership tied to Paytm can revive traction and trust.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

India weighs UPI link with Alipay+ to make overseas payments feel domestic

India and the central bank are reportedly in talks with Ant International to integrate UPI with Alipay+ for smoother cross-border payments. The plan would allow Indian travelers abroad to use UPI at merchants that are connected to Alipay+, reducing friction and improving payment convenience overseas. Sources say this could mark a major step for international usability of UPI.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

Kotak Mahindra Bank to shut UPI and net banking for one hour on Dec 21

Kotak Mahindra Bank has issued a customer alert for planned system maintenance on December 21, 2025. Between 3:30 am and 4:30 am IST, mobile banking, net banking, UPI and other payment services will be unavailable. However, ATM withdrawals under Rs 20,000 will not be affected, so customers are urged to plan transactions outside the window.

Summarised by Beize from a story on The Economic Times on 24 Apr 2026

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