Digital Finance
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UPI123Pay Transaction Cap Raised: Users Can Now Transfer Up to ₹10,000
The Reserve Bank of India (RBI) has announced an increase in transaction limits for Unified Payments Interface (UPI) services. UPI123Pay, introduced in March 2022 to cater to feature phone users, now has a raised transaction cap of ₹10,000, up from the previous limit of ₹5,000. Additionally, the UPI Lite wallet limit has been increased to ₹5,000 from ₹2,000, with a…
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Business
Digital Payments Revolution: PhonePe Rolls Out Credit Line on UPI
Bengaluru: Fintech leader PhonePe announced the launch of a new credit line feature on the Unified Payments Interface (UPI) on Thursday, nearly a year after its introduction by the National Payments Corporation of India (NPCI). This feature allows customers to access short-term credit, enhancing the payment options available at checkout for merchants using PhonePe’s Payment Gateway. According to PhonePe, this…
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