Explore the latest news, in-depth reports, and executive analysis tagged with #Upi.
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%.
The appointment follows a succession process that gained momentum after Sashidhar Jagdishan informed the board in August that he would step down at the end of his term.
The Mumbai-based startup will deploy the fresh capital to expand its engineering team, among others.
Saha, who joined Kotak Mahindra Bank in January 2026, will succeed Ashok Vaswani, whose term as CEO ends on December 31.
The startup is building systems for the defence, aerospace and space sectors.
The funding round also saw participation from existing investors Kunal Shet and Parth D Bhasin.
"Apple Pay is launching on Wednesday, starting with supporting credit cards from Axis Bank," one of the sources said.
The new fund has received commitments from Play Capital, a Nordic Fund of Funds (FoFs) and family offices such as Eraya, Twin & Bull Investments and Heritage Investments.
The government's decision to reintroduce MDR has triggered a debate among merchants and the payments industry.
The Bengaluru-based startup will use the fresh capital to strengthen its technology and product capabilities and expand its experience supply across existing markets.
The funding round saw participation from Foundation Capital.
UPI's new 0.4% MDR grabbed headlines, but the real story is who profits. By our estimates, the top three UPI apps could get up to 40% of the MDR split.
The fresh capital will be used for product development, customer deployments, and expanding its engineering teams across the US, India, and Israel.
Khara has nearly two decades of experience in product management, financial services and consumer technology.
The NPCI framework also proposes a flat Rs 5 MDR on UPI transactions above Rs 2,000 for specified merchant categories.
![The MCC mayhem: HDFC Bank enters the scene; PayU sues banks; Razorpay prepares to contest IRF claims [Exclusive]](/upload/theheadandtale.com/2026/09/1789475840_7b2f2e1ea7_mcc_misuse_2.jpg)
What began as a one-off dispute in which ICICI Bank quietly initiated interchange reimbursement fee (IRF) claims over MCC misuse is now turning into an industry-wide contest.
NPCI’s surplus (profit) declined 32% to Rs 991 crore in FY26 from Rs 1,461 crore in the previous fiscal.
Several victims allege they paid thousands to GSUnite for fintech software that was never delivered as promised.
