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While India has spent a decade trying to make money move without paper, the face of Gandhi on the currency note remains as relevant as ever.
In August, PhonePe accounted for a 45.64% share of UPI transaction volume, followed by Google Pay at 32.26% and Paytm at 8.03%.
Apple has also worked closely with other payment service providers (PSPs) like BillDesk, Cashfree, Juspay, Mswipe, Paytm and Pine Labs to bring Apple Pay to their merchant networks in India.
"Apple Pay is launching on Wednesday, starting with supporting credit cards from Axis Bank," one of the sources said.
AutoPe Payment Solutions earlier used to run and manage IRCTC's i-Pay offering. The mandate is now won by another payments company.
With the latest approval, PayGlocal plans to strengthen its international payments infrastructure from GIFT City while continuing to build its technology and operational capabilities in India.
NPCI’s surplus (profit) declined 32% to Rs 991 crore in FY26 from Rs 1,461 crore in the previous fiscal.
The government has, however, specified that banks and other system providers cannot impose any charge on RuPay-powered debit cards and UPI payments of up to Rs 2,000.
The overall value of merchant category-wise purchases via UPI fell to Rs 8.95 lakh crore in August from Rs 9.07 lakh crore in July, even as transaction volumes rose.
The funding round also saw participation from existing investors Spark Capital and Pear VC.
The IPO-bound company this week received in-principle approval for two domestic payments licence from the Central Bank of the UAE (CBUAE).
PhonePe said the partnership builds on its Visa device tokenisation offering launched in February 2025.
Circle will also grant Tazapay employees restricted stock units worth an aggregate $25 million after the acquisition closes.
The six-month extension is expected to provide some breathing room to PAs that were unlikely to complete the exercise across their entire merchant base by September 15.
The hiring will focus on engineering, product and treasury operations.
Innoviti's net loss narrowed by 57% to Rs 26.7 crore in FY26 from Rs 62.1 crore in the previous fiscal.
The service is powered by the Bharat Connect (BBPS) network and provides access to 22,722 billers across 30 categories.
Karthik brings more than 25 years of experience spanning operations, technology, analytics, and risk management.
PayGlocal said that the FinCEN registration will help it build the compliance, banking and payments infrastructure needed to support its US operations.
