Topic
digital payments
Finance India's Credit Card Market Grows 8x in Decade but Penetration Remains Low at 25%
A TransUnion CIBIL report reveals India's credit card market has expanded sharply over the past decade, with outstanding balances rising 8.3 times to Rs 3.1 lakh crore. However, penetration remains low at 25%, compared to over 60% in Colombia, UK, USA, and Hong Kong. New-to-credit additions have slumped to 8% of fresh cards, indicating limited expansion of the formal credit ecosystem.
E-Commerce & Marketplaces UPI daily volumes rise 1.2% to 75.7 crore in June, value steady at Rs 96,405 crore
Average daily UPI transaction volumes increased 1.2% month-on-month to 75.7 crore in June, while average daily value held steady at Rs 96,405 crore, the National Payments Corporation of India reported. Monthly volumes and values declined from May's strong levels, but year-on-year growth remained robust at 23% and 20% respectively. FASTag and IMPS also saw monthly dips.
Finance Humble Re 1 Coin Retains Coining Glory Despite Rise of Digital Payments, RBI Data Shows
Despite the rise of digital payments like UPI, the Re 1 coin remains the most widely circulated denomination in India, with nearly 5,499 crore coins in circulation as of March 2026, according to the RBI Annual Report 2025-26. The coin accounts for 38.4% of all coins by number, though its share by value has declined as higher-denomination coins like Rs 5 and Rs 10 gain ground. Experts attribute its persistence to small cash transactions in temples, rural markets, and informal services.
Technology Pine Labs Launches India’s First Agent-to-Agent UPI Payment Protocol for AI Deals
Pine Labs has launched the Pine Labs Payment Protocol (P3P), India's first agent-to-agent payment capability built on UPI mandate architecture. The system allows users to authorize an AI agent to independently execute transactions based on predefined conditions, removing the need for human authentication at the point of transaction.
E-Commerce & Marketplaces Relay Payments Partners with Platform Science for Enhanced Payment Solutions
Relay Payments has partnered with Platform Science to enhance payment solutions for truck drivers. This integration allows drivers to use Platform Science tablets for secure transactions, reducing fraud risks.
E-Commerce & Marketplaces UPI Transactions Surge to 30L Cr, Marking 19% Growth
Unified Payments Interface (UPI) transactions in India have surged to 30 lakh crore, marking a 19% year-on-year growth. This increase highlights the expanding role of digital payments in the Indian economy.
E-Commerce & Marketplaces UPI Transactions Surge to Record Rs 29.90 Lakh Crore in May
Unified Payments Interface (UPI) transactions in India reached a record Rs 29.90 lakh crore in May, driven by increased consumer activity and seasonal spending. The National Payments Corporation of India (NPCI) reported a significant rise in both transaction volume and value.