The Reserve Bank of India (RBI) has issued new guidelines under the 'E-Mandate Framework 2026' to enhance the security of digital payments in the country. According to the new rules, customer approval in the form of an OTP (One-Time Password) will now be mandatory for any auto-debit payment exceeding ₹15,000.

This rule will primarily apply to OTT subscriptions, utility bills, and other recurring payments. The RBI aims to ensure customer consent for large transactions and curb fraudulent incidents where money is deducted from accounts without knowledge. To facilitate customers, the RBI has provided relief for significant categories such as mutual fund investments, insurance premiums, and credit card bill payments, raising the auto-debit limit without OTP to ₹1,00,000.

This will allow larger investments and mandatory payments to be completed on time without any hindrance. However, the ₹15,000 limit will still apply to other general merchant payments. This hybrid model is an effective attempt to balance security and convenience in the digital banking ecosystem.

Another important feature of the new framework is that banks are now required to notify customers at least 24 hours before any transaction. This pre-debit notification will clearly state the payment amount and the merchant's name.

Notably, customers will also have the option to 'opt-out' with this notification, allowing them to immediately stop any erroneous or unnecessary payments. These RBI rules have come into effect immediately for cards, UPI, and digital wallets, strengthening customers' control over their money.

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New Delhi, April 18 — The government has categorically denied reports suggesting that it is considering the imposition of Goods and Services Tax (GST) on Unified Payments Interface (UPI) transactions exceeding ₹2,000.

As per agency report, the Finance Ministry issued an official statement on Friday dismissing such reports as “completely false, misleading, and baseless.” It clarified that there is currently no proposal under consideration to levy GST on UPI payments above the said threshold.

The ministry emphasized that GST is only applicable to certain service charges, such as the Merchant Discount Rate (MDR), which are levied on specific types of digital transactions. However, MDR on UPI transactions between customers and merchants was removed by the Central Board of Direct Taxes (CBDT) in January 2020.

Given that there is no MDR currently applicable to UPI payments, no GST is levied on these transactions either, the ministry confirmed.

Highlighting the rapid growth in digital payments, the statement revealed that UPI transaction volumes have surged significantly—from ₹21.3 lakh crore in 2019–20 to ₹260.56 lakh crore by the end of March 2025.

Reiterating its stance, the ministry assured that the government remains committed to promoting digital payments through UPI and has no intention of implementing any policy that could hinder its adoption.

New Delhi, April 11, 2025 — Nearly one-third of all domestic digital transactions in 2024 were conducted using credit cards or interest-bearing monthly installment (EMI) plans, according to a new report. This trend highlights a significant shift in consumer behavior towards financing larger expenses through structured credit solutions.

The report, released by digital payments company Phi Commerce, shows that the Unified Payments Interface (UPI) has emerged as a transformative tool in the Indian payments ecosystem, accounting for 65 percent of the total digital transaction volume. While UPI remains the dominant mode for small and mid-sized payments, credit cards and EMI plans are increasingly being used for higher-value purchases.

As per agency report, digital credit adoption has grown significantly in sectors such as education, healthcare, and vehicle-related expenses. The report notes that seasonal spending patterns, school admissions, and festive shopping contribute to increased reliance on short-term credit, reflecting a preference among consumers to spread out payments during periods of higher expenditure.

The findings are based on data collected from over 20,000 merchants across the country and provide insights into changing financial behavior. Consumers are now more inclined to finance their purchases rather than pay in full upfront, particularly in education (10 percent), healthcare (15 percent), and vehicle assistance (15 percent) categories.

Rajesh Londhe, co-founder of Phi Commerce, emphasized that the growing use of UPI and flexible credit options is shaping the future of financial inclusion. He noted that responsible use of these tools can strengthen financial stability and promote inclusive economic growth.

The report also indicates a clear shift in customer attitudes toward financial management, with increased reliance on EMI plans for school fees, medical expenses, and large online purchases. This suggests that consumers are adopting a more structured and phased approach to spending and financial planning.

Mumbai, March 08 : Travelers and businesses venturing to Nepal from India will no longer have to carry Indian Rupees, as they can now make payments conveniently through the Unified Payment Interface (UPI). The National Payments Corporation of India (NPCI) declared on Friday that UPI is now operational in neighboring Nepal.

In an official statement posted on 'X', NPCI announced that UPI users can conduct transactions with Nepali merchants by scanning QR codes. Initially, Indian consumers will be able to make quick, secure, and hassle-free UPI payments at various merchant outlets in Nepal using UPI-enabled apps. Merchants associated with the PhonePe network can accept UPI payments from Indian customers.

According to NPCI, National Payments International Limited (NIPL) and @fonepay Payment Services Limited have jointly launched UPI for cross-border transactions between India and Nepal. This collaboration allows Indian consumers to make QR code-based UPI payments at selected merchant locations in Nepal, ensuring swift and secure transactions.

NPCI highlighted that this milestone not only signifies a successful partnership between the two payment system operators but also marks a new era of digital connectivity and cooperation between the two friendly nations.

New Delhi - Union Information and Broadcasting Minister Anurag Thakur delivered a keynote address at the national conference of FICCI, focusing on India's economic development and industrial growth. Thakur expressed gratitude to taxpayers for their contribution to the nation's progress, emphasizing that their honest contributions enable the government to efficiently allocate funds for public welfare.

The Minister highlighted the government's efforts to streamline financial disbursements, ensuring that allocated funds reach the intended beneficiaries directly. He cited the success of the Unified Payments Interface (UPI) as a testament to the government's commitment to delivering on its promises. Initially met with skepticism, UPI has now become a ubiquitous digital payment platform, with 46% of global digital payments being made in India.

Thakur underscored the government's achievements in uplifting the underprivileged, noting the provision of 40 million houses, 100 million toilets, and over 100 million LPG cylinders. Additionally, more than 130 million tap water connections have been installed, benefiting millions of households. He highlighted that over 600 million people are beneficiaries of the Ayushman Bharat scheme, while over 800 million receive free food.

The Minister also highlighted the government's focus on infrastructure development, citing significant increases in national highway construction, airport numbers, and the establishment of institutions like AIIMS and IITs. He noted that India has now emerged as one of the top five economies globally, reflecting the success of these initiatives in driving economic growth and prosperity.

New Delhi, Feb 12 (IANS) India on Monday successfully launched its Unified Payment Interface (UPI) services in Sri Lanka and Mauritius.

RuPay card services were also launched in Mauritius as part of this initiative.

Prime Minister Narendra Modi attended the inaugural event virtually alongside his Mauritian counterpart Pravind Jugnauth, and Sri Lankan President Ranil Wickremesinghe.

Indians visiting the two nations will be able to utilise UPI services to make payments, and Mauritians travelling to India will be able to do the same. Additionally, Mauritian banks will be able to issue RuPay cards and use them for transactions in both India and Mauritius.

The launch of the Indian services comes amid growing bilateral economic ties with Sri Lanka and Mauritius.

UPI services, developed by the National Payments Corporation of India (NPCI), enable immediate real-time bank transactions using mobile phones.

RuPay is an Indian-based card payment network that is widely accepted at retail locations, ATMs, and online platforms globally.

Prior to this, NPCI International Payments Limited (NIPL) worked with Lyra, a well-known French expert in e-commerce and proximity payments, to introduce UPI services to France.

New Delhi, Jan 25 (IANS) Online food delivery platform Zomato on Thursday announced that its wholly-owned subsidiary Zomato Payments Private Limited (ZPPL) has been granted a certificate of authorisation from the Reserve Bank of India (RBI) to operate as an 'Online Payment Aggregator'.

The authorisation came into effect from January 24.

"We wish to inform that ZPPL has been granted a certificate of authorisation dated January 24, 2024, from the RBI to operate as an ‘Online Payment Aggregator’ in India with effect from January 24, 2024, as per the guidelines issued by the RBI," Zomato said in an exchange filing.

With this, Zomato Payments has expanded its role beyond food delivery and restaurant discovery into the realm of digital payments.

Apart from this recent development, Zomato had partnered with ICICI Bank last year to introduce its own unified payments interface (UPI), Zomato UPI.

Earlier this month, Zomato introduced a new feature called "daily payouts" to support emerging restaurant partners.

Currently, the feature will be available for restaurant partners who receive 100 or fewer orders a month, according to the company.

"Our discussions with various restaurant partners highlighted the financial challenges smaller eateries face, using the traditional weekly payout system. This feature is designed to address this critical need for more frequent access to earnings," Zomato said in a blogpost.

New Delhi, Sep 20 (IANS) To complete a purchase directly in the chat, Meta Founder and CEO Mark Zuckerberg on Wednesday announced a new feature in India that will allow WhatsApp users to pay businesses using a variety of payment options, including all supported UPI apps, debit and credit cards, and more.

The company partnered with online payment solutions provider PayU and Bengaluru-based Razorpay to add support for payments via credit and debit cards, net banking and all UPI apps in India.

"Starting today, people in India can add items to their cart and send a payment using the method of their choice from all supported UPI apps, debit and credit cards, and more," Meta said.

The company first introduced the payments service in Brazil and Singapore.

"This is going to make it even easier for people to pay Indian businesses within a WhatsApp chat using whatever method they prefer," Zuckerberg said.

Along with this feature, Meta CEO also announced some other features for users in India.

Meta launched ‘Flows’ so businesses can offer more experiences like quickly choosing a train seat, ordering a meal or booking an appointment -- all without leaving the chat.

"With ‘Flows’, businesses will be able to provide rich menus and customisable forms that support different needs," the company explained.

The company will make ‘Flows’ available to businesses globally using the WhatsApp Business Platform in the coming weeks.

Moreover, the tech giant will be bringing Meta Verified to businesses using WhatsApp, Instagram and Facebook.

"We've been hearing from a lot of businesses that they're very eager to build more credibility and get greater visibility. So I'm excited to start rolling out Meta Verified in the coming months.

“We're going to continue to evolve what's included in the toolkit to make sure that we're bringing the best value to businesses," Zuckerberg announced.

To become Meta Verified, businesses will need to demonstrate their authenticity to Meta and in return they will receive a verified badge, enhanced account support, impersonation protection, and additional features that will help people find them more easily.

For WhatsApp, this includes premium features like a custom web page and increased multi-device support.

The company will begin testing Meta Verified soon with small businesses using the WhatsApp Business app before introducing it to businesses on the WhatsApp Business Platform in the future, Meta stated.

New Delhi, Sep 5 (IANS) PhonePe has launched a first-of-its-kind celebrity voice feature on its SmartSpeakers in collaboration with the iconic Indian actor Amitabh Bachchan.

This new feature will allow PhonePe SmartSpeakers across India to validate customer payments in Bachchan’s distinct voice. This industry-first celebrity voice feature is currently available in Hindi and English, with plans to roll this out for other languages in the future.  

The PhonePe SmartSpeaker was launched a year ago, and since then, four million devices have been used by merchant partners across 19,000 postal codes (covering over 90 per cent of the country). 

In what is a true testimony to their popularity, the SmartSpeakers validate 100 crore (1,000 million) transactions across the country. The addition of a celebrity voice, featuring Amitabh Bachchan, will enhance the payment experience for both merchants and customers, making it more interactive than ever before.

"We are delighted to launch a unique celebrity voice feature for our SmartSpeaker for merchant partners across India. Bachchan’s voice has an instant and universal recall, and it resonates with millions of Indians across the country," said Vivek Lohcheb, Head of Offline Business at PhonePe.

"Being a popular Indian app used by one in four Indians, we believe this collaboration will further elevate the popularity of the PhonePe SmartSpeaker for merchants and customers alike," he added.

To enable this new feature from the PhonePe for Business app, merchants will need to first open the PhonePe for Business App and then go to the SmartSpeaker section on the home screen.

Under ‘My SmartSpeaker’, click on ‘SmartSpeaker Voice’ then choose Amitabh Bachchan’s voice in the preferred language and then click on ‘Confirm’ to activate the voice.

The device will get rebooted with the updated language in Bachchan’s voice within a few hours.

Moreover, some of the other features that make PhonePe SmartSpeakers stand out in the market include portability, a best-in-class battery, great audio clarity even in the noisiest of environments, and the compact and versatile form factor, which allows merchants to use it even in the most congested counter spaces. 

Earlier merchants using feature phones relied heavily on SMS, but now with the PhonePe SmartSpeakers, their payment validation experience has been significantly eased. 

PhonePe SmartSpeakers provide voice payment notifications in multiple Indian languages, with up to four days of battery life, dedicated data connectivity, a dedicated battery level LED indicator for ease of use, audio alerts for low battery levels, and a dedicated replay button for last transaction. 

By offering such convenience to merchants, PhonePe is seeing the successful adoption of its SmartSpeakers in the market, thus enabling an increase in digital payments.

New Delhi, Aug 21 (IANS) Pioneered by India, QR Code payments to grow more than 590 per cent in the leading Southeast Asian market by 2028, a new report said on Monday.

According to Juniper Research, the volume of QR code payments in the Southeast Asian market will increase from 13 billion in 2023 to 90 billion in 2028. 

"High growth in Southeast Asia and other developing markets is largely down to the financial inclusivity that QR payments offer; enabling unbanked users to access digital payments. Conversely, Western markets have seen very limited adoption; highlighting the global divide in QR payment markets," the report said.

According to data from MyGovIndia, India has topped the list of five countries in digital payments with 89.5 million digital transactions in 2022.

Second, on the list is Brazil which amounted to 29.2 million transactions followed by China with 17.6 million transactions.

Moreover, the report found that the national QR payment schemes, including India’s UPI (Unified payments interface) and Brazil’s Pix, played a key role in encouraging market adoption, with their success driving the implementation of national schemes in 2023 in Kenya and Bangladesh. 

However, it found significant growth to market volume will come from cross-border interoperability within Southeast Asian markets. 

Meanwhile, UPI transactions rose manifolds between 2018 and 2022 in terms of value as well as volume, by 1,320 per cent and 1,876 per cent, respectively, in India.

In 2018, UPI transactions in terms of volume stood at 374.63 crore, which went up by 1,876 per cent to 7,403.97 crore in 2022.

In terms of value, the UPI transactions were Rs 5.86 lakh crore in 2018, which went up by 1,320 per cent to Rs 83.2 lakh crore in 2022.

New Delhi, July (IANS) Prime Minister Narendra Modi on Saturday said digital payments have brought transparency and urged people to avoid cash payments if possible.

Addressing the 17th Indian Co-operative Congress, the Prime Minister said: "Embrace digital transactions for transparency. Minimise cash payments. India is now known for digital payments."

He said that the Central government spends over Rs 6 lakh crore annually on agriculture and farmers.

"This means that on average, every farmer receives around Rs 50,000 in various forms from the government every year. In other words, under the BJP government, there is a guarantee that farmers will receive Rs 50,000 through different means annually," he said.

The Prime Minister further mentioned that his government has directly transferred around Rs 2.5 lakh crore into farmers' accounts across the nation.

He also highlighted that his government provides urea fertilizer bags for Rs 270, whereas they are being sold at Rs 720 in Bangladesh, Rs 800 in Pakistan, Rs 2,100 in China, and Rs 3,100 in some other places.

He added that his government has increased fertilizer subsidies to over Rs 10 lakh crore and emphasised that the Centre is free from nepotism and corruption, which is why farmers are benefiting.

"In the last nine years, farmers have received over Rs 15 lakh crore through the procurement of their produce at MSP (Minimum Support Price). In other words, the government spends around Rs 6.5 lakh crore per year on agriculture and farmers," he said.

Modi announced a package of Rs 3 lakh 70 thousand crore for farmers and said that a profitable price of Rs 315 per quintal has been set for sugarcane farmers.

"We currently have a storage capacity of over 1,400 lakh tonnes in the country. Our goal for the next five years is to create approximately 700 lakh tonnes of new storage capacity. This is undoubtedly a significant task that will enhance the capabilities of our farmers and generate new employment opportunities in rural areas."

He also informed that the Central government launched the Mission Palm Oil initiative to promote oil palm cultivation.

Speaking on the occasion, Union Home Minister Amit Shah stated that Modi has brought many changes in the cooperative movement.

"The cooperative movement in our country is approximately 115 years old. The demand for a separate Cooperative Ministry was pending for 75 years. When Modi became Prime Minister for the second time, an autonomous Cooperative Ministry was established. With the formation of an independent Ministry, numerous changes have become possible in the Ministry of Cooperation and the cooperative sector," said Shah.

He also mentioned that the Prime Minister and Finance Minister resolved a tax dispute of Rs 15,000 crore related to Sugar Mills and made arrangements to prevent such disputes from recurring in the future.

New Delhi (India), June 16: The Founder of Elite Group, Mr Balraj Meel, is known for his visionary approach and out-of-the-box thinking. He has given new dimensions to the way businesses are conducted by introducing the concept of ‘Global Payment Solution Wizard’. It is a one-of-a-kind software that allows businesses to make and receive payments in any currency. This article tells you more about how this innovative software works and how it can benefit your business.

Early life and education of Mr Balraj Meel

Mr Balraj Meel was born in a small village in India. His father was a farmer, and his mother was a homemaker. He did his schooling at a small village school, and later, he went to Himachal for his higher studies. He did his graduation in commerce from Himalayan Garhwal University. After his graduation, he started working in the financial industry. He worked there for some time, and then he moved to Chandigarh to start his own business. In Chandigarh, he started a small company that used to provide financial services to the people. Gradually, his company grew, and he became one of the leading businessmen in India.

In 2018, Mr Balraj Meel started his own payment gateway called Elite Neo Bank & Payments by Elite Group. Elite Group is one of the leading payment gateway providers in India & outside India. Elite Group provides its services to both national and international clients. Elite Group’s payment & Neo Bank has its own patented technology, which makes it one of the most secure payment gateway providers in the world. Elite Group is also one of the few companies which are compliant with PCI DSS standards.

Elite Group has been growing rapidly since its inception. It has tie-ups with major banks and financial institutions in India and abroad. Elite Group has also been expanding its operations by setting.

Mr Balraj Meel’s career in the payments industry

Mr Balraj Meel is the founder of Elite Group, a leading provider of global payment solutions. He has over five years of experience in the payments industry, and his company has processed over $1 billion in payments each year. He is a thought leader in the industry, and his blog covers topics such as the future of payments, the changing landscape of the payments industry, and the challenges and opportunities that come with working in the payments space.

The founding of Elite Group

The Elite Group was founded in 2017 by Balraj Meel, now its CEO. The company started as a payments solution provider and has since evolved into a global fintech powerhouse. Elite Group has been instrumental in developing innovative payment solutions for businesses of all sizes.

Meel is a serial entrepreneur and a thought leader in the payments industry. He is passionate about using technology to make financial services more accessible and

 Affordable for everyone. Under his leadership, Elite Group has become one of the leading providers of payment solutions in the world.

The company has offices in Chandigarh, Delaware, Dubai, Singapore, and Mumbai. Elite Group is backed by leading venture capital firms.

Elite Group’s products and services

The Elite Group is always striving to provide the best products and services to its clients. In the blog section, you can find out more about the company’s latest offerings and how they can benefit your business. You can also read testimonials from satisfied customers and learn more about the Elite Group team.

Mr Balraj Meel’s vision for the future of payments

Since the launch of Elite Group, Mr Balraj Meel has been working tirelessly to bring his vision for the future of payments to life. His goal is to create a global payment solution that is convenient, safe, and affordable for everyone.

To achieve this, Mr Meel has assembled a team of the brightest minds in the payments industry. Together, they are working on developing a platform that will allow users to make and receive payments in any currency, anywhere in the world.

The Elite Group team is making great progress on their mission to build the ultimate payment solution. In the coming months, they will be launching a beta version of their platform so that users can begin testing it out. Mr Meel is confident that his team will revolutionize the way people make and receive payments around the world.

Conclusion: 

Mr Balraj Meel is the founder of Elite Group, and he has been instrumental in building Wizard, a global payment solution. With his vast experience in the field of finance, he has been able to make Wizard one of the most efficient and user-friendly payment solutions available today. Thanks to Mr Meel’s vision and dedication, Elite Group is quickly becoming a leading provider of financial services worldwide.

www.eliteneobank.com