DIGITAL PAYMENTS
UPI hits record Rs 29.9 lakh crore in July, 23.66 billion transactions
UPI transactions reached a new high of Rs 29.9 lakh crore in July. The volume of these transactions also saw a significant increase during the same month. This growth solidifies UPI's position as India's preferred digital payment method. UPI has expanded its operations to nearly ten international nations.
UPI volumes hit record high in July, nears Rs 30 lakh crore
Compared to July 2025, UPI transaction volumes rose 22% in July, while the transaction value increased 19% compared to a year ago. The July data also signals a further increase in low-value transactions, with the average daily transaction amount at Rs 96,383 crore from Rs 96,405 crore in June. The average daily transaction count rose marginally to 763 million transactions.
After ditching UPI for over two months, this Delhi woman reveals the money habits she never noticed before
A Delhi content creator found that using cash for daily expenses reduced her impulse spending. She believes this simple shift made her more aware of where her money was going. Sadaf now keeps eighty percent of her spending money in cash for better budgeting. Digital payments are still used for twenty percent of expenses when cash is inconvenient.
Maldives launches Favara-UPI payment service with India
Maldives has launched real-time fund transfers to India using UPI. This integration connects Maldives' Favara system with India's popular payment platform. Individuals can now send money instantly to UPI-enabled accounts in India. This initiative strengthens digital financial connectivity and bilateral economic cooperation. Future phases will introduce more cross-border payment solutions.
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Mastercard profit beats estimates on strong consumer spending
Mastercard reported better-than-expected second-quarter profits on Thursday. Strong transaction volumes and resilient consumer spending supported the company's financial performance. Gross dollar volume rose eight percent, and net revenue increased fourteen percent.
Govt approves RBI's trials of ₹10, ₹20 polymer notes; no plan to replace paper currency
The government has approved the Reserve Bank of India's proposal for polymer banknotes. One billion pieces each of ten and twenty rupee polymer notes will undergo field trials. These new notes are expected to be more durable and have a longer lifespan. The introduction of polymer notes is still in a preliminary phase.
PhonePe to help businesses read India's market pulse in real time
PhonePe has launched PhonePe PulsePro, an enterprise intelligence platform that converts aggregated and anonymised digital transaction data into hyperlocal, near real-time market insights. Built on PhonePe's payments network of 700 million users and 50 million merchants, the company said PulsePro will help businesses improve expansion planning, site selection, distribution strategy and category growth while tracking consumer behaviour and economic activity across India.
Transfer of unclaimed shares may go digital; AI, data analytics to perform several tasks
The government plans a new digital system for unclaimed shares and dividends. This system will connect various official platforms using application programming interfaces. Artificial intelligence and data analytics will streamline the transfer process for investors. The new portal will offer a single interface for claim submission and verification. This initiative aims to expedite transfers while maintaining fraud prevention measures.
Apple says UK App Store proposal amounts to price regulation
In a submission to Britain's Competition and Markets Authority, the iPhone maker said proposed "steering" requirements would go beyond promoting competition and give the regulator a "highly intrusive" role in managing its business.
The evolution of mobile banking apps into financial operating systems
Mobile banking apps now serve as primary financial interfaces for millions. Consumers expect a single platform for all their financial needs. Integrated apps offer banking, investing, and wealth management services seamlessly. This shift reflects a growing demand for instant and unified financial experiences. The future of banking centers on these comprehensive digital ecosystems.
UPI now accepted for online Burj Khalifa bookings before Indians arrive in Dubai; first for UAE attraction
Indian travellers can now book Burj Khalifa tickets online using UPI. This integration makes the Dubai attraction the first in the UAE to accept UPI for e-commerce. The move expands UPI's reach beyond in-store payments to online travel bookings. It allows Indian visitors to complete purchases before their travel to the UAE. This partnership strengthens cross-border payment options for Indian travellers.
Easebuzz FY26 revenue rises 10% to Rs 723 crore; profit drops 41%
Profit after tax fell 41% to Rs 11.15 crore from Rs 18.77 crore in FY25. The value of payments processed by the company, however, rose about 67% to nearly $50 billion from around $30 billion, while gross profit increased 51% to Rs 227 crore from roughly Rs 150 crore, the company said.
Emirates now accepts cryptocurrency for flight bookings; here's how it works
Emirates has launched Crypto.com Pay as a payment option on its website and mobile app, allowing eligible UAE residents to pay for flight bookings using cryptocurrency. The service supports bookings settled in UAE dirhams and is part of the airline's push to expand digital payment options under Dubai's cashless economy strategy.
PayPal presses on with turnaround in pivotal quarter as sale questions linger
PayPal has detailed its cost-saving plans through 2029. The company also raised its 2026 profit forecast above market expectations. These results emerge as takeover speculation continues to swirl around the firm. PayPal's board considers the recent acquisition offer inadequate. The payments giant is implementing changes to streamline operations and cut costs.
Government sets up India Digital Payment Intelligence Corp to contain cyber frauds
India Digital Payment Intelligence Corporation has been established to combat cyber financial frauds. This new entity will share real-time fraud intelligence and alerts with financial institutions. The government is strengthening cybersecurity measures for financial institutions across the country. CERT-In has set up a National Cyber Coordination Centre for threat monitoring. A nodal Computer Security Incident Response Team for the financial sector is also operational.
ETtech Explainer: Why PhonePe’s UPI lead lags Paytm’s profits
PhonePe's revenue grew while its net loss widened significantly in FY26. Paytm's revenue increased and it achieved profitability against a prior year loss. Paytm's cost management and financial services distribution drove its faster monetization. PhonePe's UPI dominance offers distribution but faces monetization challenges. Future growth for PhonePe hinges on operational efficiency and product diversification.
No proposal for one-time waiver of loans of small, marginal farmers: MoS Finance
The government has no current proposal for a one-time loan waiver for farmers. The Reserve Bank of India offers financial restructuring options for distressed borrowers. The government has approved a proposal for polymer banknotes in Rs 10 and Rs 20 denominations. These polymer notes will have a longer lifespan than paper currency. The Emergency Credit Line Guarantee Scheme has issued over five lakh guarantees.
HSBC to hire 100 AI specialists, 100 wealth managers in boost to Singapore hub
HSBC plans to hire more than 200 professionals in Singapore, including AI specialists and wealth managers, as part of its strategy to expand higher-fee businesses and accelerate artificial intelligence adoption. The bank will launch a new AI centre in the city, focusing on areas such as personalised wealth management, AI-driven treasury solutions and digital payments. The move comes as HSBC strengthens its presence in Asia while restructuring its operations and investing in future-focused technologies.
Text message scams jump 146% in India amid rise in scam-led digital fraud: Report
Text message-based scams in India have surged 146 per cent, highlighting a sharp shift in the country's digital fraud landscape towards scam-led attacks, according to the latest Digital Banking Fraud Trends in India 2026 report by fraud detection firm BioCatch.
Fintechs tell NPCI its 'default app' plan could kill competition
Seven Indian fintech firms have written to NPCI regarding its UPI Meta protocol. They argue the proposed framework risks locking customers into a single default payment app. This change could adversely impact competition and innovation within the digital payments ecosystem. The companies request broader consultation before NPCI proceeds with the framework. They believe the current UPI checkout flow does not require such a significant alteration.
25 nations including France and Singapore pilot India's DPI platform: Official
India's digital public infrastructure is currently in pilot programs across twenty-five nations. This initiative follows India's successful G20 Presidency and its focus on digital transformation. Several countries are now considering full implementation of the DPI platform this year. India aims to facilitate global South development through technology transfer and knowledge sharing. The platform encompasses digital identification and payment systems for essential services.
How PayPal went from Wall Street favorite to unwilling merger target
PayPal, once a Wall Street favourite and a pioneer in digital payments, is now facing a potential $53 billion takeover bid from Stripe and Advent International. The company’s board is reviewing the offer but reportedly believes the $60.50 per share proposal undervalues the business. PayPal’s market dominance has weakened as rivals like Apple Pay gain ground, despite its strong legacy.
Global Market: Ant International raises $1.2 billion to fuel global expansion
Ant International has raised $1.2 billion in a fresh funding round backed by Ant Group and Alibaba to accelerate its global expansion across merchant payments, financial services and enterprise solutions.
How PayPal went from Wall Street favorite to unwilling merger target
The company synonymous with digital payments this past week got a $53 billion offer to be taken private by upstart rival Stripe and buyout shop Advent International. PayPal's board is discussing the bid but believes $60.50 a share is not enough, people familiar with the company said. The board is expected to meet on Monday, said the people familiar with PayPal.
Don't put a toll on UPI: Why merchant discount rate isn't the answer
A proposal to introduce a merchant discount rate (MDR) on UPI transactions above ₹2,000 for businesses with annual turnover of ₹1-1.5 crore aims to address the cost of maintaining the payments ecosystem. While banks and payment providers need a sustainable revenue model, the article argues that reintroducing MDR would undermine UPI's biggest strength—a simple, universal, zero-cost payment system.
Nearly 55.49 crore UPI users onboarded by June 2026
Around 55.49 crore UPI users were onboarded by June 2026, Parliament was informed. UPI transactions reached 24,162 crore in volume and Rs 314 lakh crore in value. NPCI International Payments is expanding UPI and RuPay to global markets. Security measures and international linkages enhance UPI's safety and reach. Government and regulators address fintech ecosystem issues and consumer protection.
UPI MDR could raise business costs, hurt consumption if introduced: Experts
Experts suggest focusing on who bears UPI merchant discount rate costs. Introducing this fee could increase business operating expenses and squeeze margins. Small merchants and kirana stores may face significant challenges with this change. UPI's success as a public digital infrastructure is at stake. Policymakers must balance sustainability with UPI's broader economic and strategic value.
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