AUTOMATED UPI PAYMENTS
UPI and AI: 'Buy Rs 500 worth gold if price drops below Rs 16,000/g'; your wish is AI agent's command, and it can make UPI payments at your target price
The P3P AI agent can complete a UPI payment without any human authentication. However, the human still stays in control. Currently, AI agents need a human authentication step, an MPIN, to make any payments. Pine Labs has removed this wall. It builds on UPI’s existing mandate framework - UPI One Time Mandates (OTM) and Reserve Pay.
84% of Indian banking leaders report rising fraud losses, AI-driven threats emerge as major concern: Report
As artificial intelligence increasingly reshapes the financial sector, Indian banks are facing a sharp rise in fraud-related challenges, with 84 per cent of banking leaders reporting higher fraud losses over the past year, according to a survey report by BioCatch.
MUFG’s new India fund; District goes sporting
Happy Tuesday! Japan’s MUFG is doubling down on India just as a new wave of investors moves into the country’s startup market. This and more in today’s ETtech Morning Dispatch.
India and the new economics of constraint
India is attempting to rise in a world shaped increasingly by AI, fractured supply chains, geopolitical rivalry, slowing globalisation, and mounting debt burdens.
Top-level rejig hits mid-cap ITs; Fintechs wary of RBI wallet rules
Happy Thursday! Mid-sized IT firms are realigning leadership teams as AI-driven changes force a rethink. This and more in today's ETtech Morning Dispatch.
Old shopping funnel is gone: Gen Z is rewriting rules of retail
Gen Z is rapidly reshaping India’s online retail market, forcing brands and platforms to rethink traditional marketing strategies. Nearly half of India’s online fashion and beauty shoppers now belong to Gen Z, with companies like Amazon, Nykaa, Myntra and Shein tailoring their offerings to meet the cohort’s fast-changing preferences and high engagement levels.
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Your monthly spend also decides how soon you can retire: Expense tracking apps, AI tools are changing how Indians invest
Expense-tracking apps, spreadsheets, Artificial Intelligence (AI) -generated analysis, and budgeting dashboards are not merely bookkeeping tools. They reveal recurring patterns, unconscious leakages, and hidden habits that quietly shape long-term wealth outcomes. Before you can plan where your money goes, you have to see where it is already going.
India must leverage its digital verification architecture to evolve into a trust-based economy
India faces a low-trust economy with high friction, exemplified by complex KYC norms. Finance Minister Nirmala Sitharaman highlighted this issue. The nation must shift towards a trust-based system by rewarding responsible conduct. Leveraging digital infrastructure like Aadhaar and UPI offers a path to reduce friction and build trust. This transition aims to create a transparent, rules-based economy.
Meta launches business AI on WhatsApp
Meta is launching AI business agents on WhatsApp in India to help small businesses automate customer interactions, boost sales, and operate 24/7. These agents can respond to queries, recommend products, manage bookings, and resolve complaints, with early pilots showing significant sales growth. The service is currently free.
Trust at scale: What it takes to build a resilient digital asset ecosystem in India
As India leads global digital asset adoption, building a robust trust infrastructure is critical. The article emphasizes a systems approach, involving platforms, regulators, and users, to combat evolving fraud tactics. Proactive prevention, timely intervention, and swift response are key to scaling trust alongside digital asset growth.
Mother's Day Special: How AI, apps are empowering women to manage finances, improve health, build career
Women are learning to keep pace with the ubiquitous apps and AI, shrugging off dependence on their kids for financial transactions, online shopping, utility bill payments, documentation and paperwork, health care and medical needs, travel (booking cabs or navigation), recreation, and even career management.
Rewiring payments for the AI era: Inside PayU’s transformation play
PayU is ramping up its AI-led payments push, building infrastructure for agentic commerce as UPI volumes surge and digital transactions scale. The company is focusing on trust, compliance, and automation to enable seamless, high-frequency payments, while expanding AI use cases across merchant onboarding, risk management, and customer support.
Inside AI-led digital storefronts; Lalit Keshre’s big ET Awards win
Happy Monday! Digital platforms and brands are building their own AI storefronts. This and more in today’s ETtech Morning Dispatch.
Beyond KYC: Why digital trust needs real-time intelligence
Ashok Hariharan of IDfy argues that digital trust must evolve beyond one-time KYC to continuous, intelligence-led risk assessment across the customer lifecycle.
RBI building more digital payments intelligence platforms to empower users: ED
The Reserve Bank of India is building advanced digital platforms. These platforms will use artificial intelligence and APIs to improve customer service. They will also make payment systems stronger. The central bank aims to automate grievance handling for digital transactions. This will save time and resources. Interoperability between systems is key for a smooth user experience.
How to set up auto debit for your SIPs and utility bills: A step-by-step guide
Investors can automate payments for mutual fund SIPs, utility bills, and other recurring transactions through NACH mandates, UPI auto-debit, or bank auto-pay. These mandates can be easily managed via various online portals. The RBI mandates sending pre-debit notifications.
SBI, Kotak Bank scheduled maintenance: UPI, net banking, NEFT services to be temporarily unavailable on these days
SBI and Kotak Mahindra Bank customers should be aware of scheduled maintenance this week. SBI's digital services, including UPI, IMPS, and ATM, will be unavailable. Kotak Mahindra Bank will have service disruptions on multiple dates, affecting NEFT, net banking, mobile banking, UPI, and payment gateway.
Disputed UPI transactions: Expect a faster resolution from February 15, as NPCI revises this rule
UPI transactions: Ever had to put a chargeback request for disputed Unified Payment Interface (UPI) transactions? You would be happy to note that now the chargeback acceptance and rejection process is automated. This will help banks in the back end to process the settlement process faster. Read below to know how this new revised UPI chargeback rules help.
UPI hits 16 billion transactions in October setting new record aided by festive spends
Just the previous month, UPI had crossed the 15 billion transactions landmark. On average, 500 million transactions were settled daily last month. In October, this number went up to 535 million. On October 30, the day of Dhanteras, 546 million UPI transactions were settled, which is a record for a single day transaction.
Real-time payments gaining ground fast in Asia: JP Morgan
Many Asian countries, including India, are moving away from older payment methods like ACH in favor of real-time systems such as UPI. JP Morgan Chase is investing in distributed ledger technology and partnering with ONDC to support this shift and enhance e-commerce and financial services.
NPCI launches ATM products; BBPS renamed Bharat Connect
The National Payments Corporation of India (NPCI) introduced new products to transform ATM infrastructure, including UPI interoperable cash deposits and digital banking units. Customers can now deposit cash at ATMs using UPI without a physical card. Additionally, RBI has rebranded the Bharat Bill Payment System to Bharat Connect, while open architecture ATMs will offer various banking services.
UPI crosses 10 billion transactions in September for second straight month
In terms of the total value of funds settled, UPI recorded Rs 15.80 lakh crore in September, slightly more than the Rs 15.76 lakh crore recorded in August.
Firms, banks feel the heat of new auto-debit rules
ET takes stock of the new rules, the scale of disruption, as well as alternative modes, which can be used by customers to make their payments that have been failing in the month of October.
UPI transactions hit all-time high in June as second wave ebbed
As many as 2.8 billion UPI transactions worth Rs 5,47,373 crore were clocked in June, data released by NPCI showed. That’s a 10.6% jump in volume and 11.56% surge in value compared to May.
Sebi gives more time for implementation of SMS alerts for IPO process under UPI system
Sebi said that sponsor bank will have to execute the online mandate revoke file for non-allottees or partial allottees and provide pending applications for unblock, if any, to the RTI, not later than 5 pm pm on BOA+1.
UPI platform to enable MF, equity transactions
Zerodha has integrated with Google Pay so customers get payment notifications on Pay and can transact with their UPI pin seamlessly.
UPI 2.0 set to be launched today by Urjit Patel
Though UPI 2.0 will miss the main attraction of automated recurring payments, it will now bring in features like overdraft facility, IPO subscription, block feature on digital payments etc.
Biometrics, e-mandate and bigger transfers in UPI 2.0
NPCI expected to release new specifications by early July for banks to start incorporating them.
How UPI, online accounting software can help you collect payments on time
UPI's flexibility and ease of use plus an online accounting tool's automation features make a powerful combination that can help you get paid on time.
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