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Mobile Payments Surge 41% Between July and December 2024
This pick-up is a testament to the further fortification of the nation's digital payment ecosystem, driven by fast-paced adoption of the Unified Payments Interface (UPI), mobile wallets, and card payments.
UPI Transactions Surge 42%, Mobile Payments Hit 88.5 Billion in H2 2024
India's digital payments ecosystem continues to grow exponentially, with significant milestones achieved in the second half of the year, as per research by Worldline, a financial services company.
Centre Cracks Down on Digital Fraud, Blocks 3,962 Skype IDs and 83,668 WhatsApp Accounts
Such fraudsters usually target weaker sections of society, including senior citizens. As a response, the government has intensified its efforts to prevent such scams and inform the public about upcoming cyber threats.
Digital Payment Transactions Reach ₹3,659 Lakh Crore in FY24, UPI Records 138% Growth
The transaction value has increased to Rs 1,962 lakh crore to Rs 3,659 lakh crore FY24, growing at a CAGR of 11 per cent. Further, the total value of transactions in the past 5 months of FY25 is an astonishing Rs 1,669 lakh crore, the Department of Financial Services under the ministry has stated.
Zoho Introduces New Payment Gateway Solution
The Chennai-based company also unveiled B2B payment capabilities using Bharat Bill Payment System, operated by NPCI Bharat BillPay Limited (NBBL). This would, therefore, upon registration with NBBL as a BBPOU, enable Zoho Payment to onboard buyers and sellers on the BBPS network for seamless processing of B2B transactions. According to NBBL's BBPS system, businesses enjoy standardized invoice presentation, multiple options for payment methods, immediate confirmations at the time of payment, financing options for invoices, and an integrated platform for handling and reconciliation of invoices.
India's Fintech Sector Expected to Generate $190 Billion in Revenues by 2030: Report
It is, according to the report, assessing how critical and emerging technologies like Generative AI to API-based open architecture are leveraged across functions from customer service automation to fraud detection," shared during GFF. Strong fintech ecosystem of the country that is based on digital public infrastructure 1.0 comprising Aadhaar and UPI. In the words of Yashraj Erande, Global Head of Fintech and India Head of Financial Institutions at BCG, "It is creditable that Indian fintechs have achieved 50% growth rate in 2023 against the global average of 13%. It is also encouraging that Indian fintechs demonstrate a path to profitability much earlier than what was expected 2-3 years ago."
Dissecting the Microsoft Outage: CrowdStrike's Explanation of the Incident
The problem originated from the routine sensor configuration update deployed by CrowdStrike to Windows systems managed by their Falcon platform. This update, which was released at 9:30 a.m. IST on 19 July, inadvertently triggered a logic error, leading to the crashing of the affected systems and the display of the dreaded blue screen of death (BSOD).
Canara Bank Addresses Compromised X Handle, Initiates Restoration Efforts
Canara Bank in a statement said, "Canara Bank would like to intimate all concerned that the bank's official X handle has been compromised. All concerned teams are investigating the matter and working closely with X to regain access to Canara Bank X handle at the earliest."
Paytm's UPI Transactions Exhibit Early Recovery Signals with Surge in Processed Payment Value
The total value of UPI transactions done through the Paytm platform touched Rs 1.24 trillion in May. The strong growth has been a result of user-centric launches, like Credit Card on UPI, and the promotion of UPI Lite.
"Google Report Reveals China's Dominance in Government-Sponsored Zero-Day Exploitation
A zero-day vulnerability refers to a flaw in a system or device that has been identified but not yet patched.
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