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The Reserve Bank of India (RBI) is this week launching a pilot scheme in four Indian cities to test the retail version of its prototype central bank digital currency (CBDC) for both in-store and peer-to-peer transactions, the central bank says... More
The Reserve Bank of India (RBI) has begun testing a prototype wholesale central bank digital currency (CBDC) and will launch a pilot programme for a retail digital rupee with merchants and consumers in select locations “within a month”, the central bank says... More
Merchants across India will soon be able to accept contactless digital payments on their Android NFC smartphone without needing any additional hardware. State Bank of India (SBI) is making the software-only solution available through a new SBI Merchant app. More
Google Pay users in India can now make tokenized NFC-based credit and debit card payments at contactless POS terminals, starting with customers of Axis Bank and SBI “with Kotak and more banks expected to follow suit very soon”... More
NFCW EXPO: Canada-based Tappy Technologies’ showcase in the NFCW Expo is now open, featuring panel discussions exploring the future of wearable payments and a product demo of the tokenized payments technology that forms the backbone of Timex Pay... More
PARTNER NEWS: Watch brand Titan has partnered with State Bank of India (SBI) for the launch of a range of watches that makes use of Canada-based Tappy Tech’s wearable payments technology to let consumers make contactless transactions at POS terminals across India... More
Google Pay has begun testing tokenized NFC-based credit and debit card payments in India, enabling users of supported cards to add them to their payment options for NFC, QR and online payments... More
Indian telecommunications giant Reliance Jio has begun piloting Jio Pay, a new UPI-enabled payments service which includes support for both NFC and QR mobile payments... More
SBI Yono: The big security advantage for you with this new cardless cash withdrawal — Financial Express — “Customers can initiate the cash withdrawal process by installing the Yona App and setting a six-digit Yono Cash PIN for the transaction and another six-digit reference number for a transaction, which customers will get after initiating the cash withdrawal process on their registered mobile number via SMS, that has to be used within 30 minutes along with the PIN at the nearest Yono Cash point to get the cash… The SBI has enabled 16,500 ATMs for this service, called Yono Cash Points.”
WhatsApp hastens payments push for 200 million Indians — Bloomberg — “Facebook Inc is set to offer its WhatsApp payment services to the whole of India as early as next week in an attempt to win market share, even though its partners aren’t all ready, said people familiar with the matter. The messaging app will partner with HDFC Bank Ltd, ICICI Bank Ltd and Axis Bank Ltd to process the transfers, and State Bank of India will join once it has the necessary systems in place.”
WhatsApp in-chat payments feature is bad news for digital wallets, payment companies in India — FactorDaily — “Instant messenger WhatsApp is readying an intuitive in-chat payments feature, ahead of a likely December launch in India… This will be the first time that WhatsApp is introducing the payments feature anywhere in the world… The Facebook-owned company has partnered with three banks – State Bank of India, ICICI Bank and HDFC Bank, three of India’s biggest banks, to launch the feature, FactorDaily has also learned.”
Indian consumers can now make QR code-based mobile payments using BharatQR, a “low cost, interoperable mobile acceptance solution” backed by the Indian government and developed by Mastercard, Visa and National Payments Corporation of India (NPCI)... More
Indian mobile payments provider Paytm has been granted permission from the Reserve Bank of India to formally launch a payments bank... More
State Bank of India has stopped its customers from transferring money into Paytm mobile wallets, instead encouraging them to make use of its own State Bank Buddy service... More
Smartphone maker Micromax is to offer the mVisa QR code-based mobile payments service through its Udio mobile app across India, in collaboration with Visa and payments solution provider TranServ... More
Visa has launched its mVisa QR code-based mobile payment service in Kenya with Co-operative Bank, Family Bank, KCB and NIC Bank... More
Visa is in “advanced discussions with leading Nigerian banks” — including Diamond Bank — to roll out its mVisa QR code-based mobile payments service in the country before the end of 2016... More
Customers of State Bank of India (SBI) can now make QR code-based mobile payments using mVisa, the mobile payment platform unveiled by Visa and piloted by SBI in August 2015... More
State Bank of India (SBI) is to launch Batua, a mobile wallet service that works on feature phones, The Economic Times reports... More
India’s Axis Bank, HDFC Bank, ICICI Bank and State Bank of India (SBI) are to pilot a mobile payment service developed by Visa this summer that will let select customers make in-store, online and bill payments as well as send and receive money using their mobile devices. More