Unified Payments Interface (UPI) has officially surpassed Visa to become the world’s leading real-time payment system, processing over 650 million transactions daily. Amitabh Kant, the former CEO of Niti Aayog, hailed the milestone on X, posting, “UPI surpasses Visa to become the world’s leading real-time payment system, processing over 650 million transactions daily.”He said that reaching this milestone in just …
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NPCI, banks tie up to curb fraud in UPI – The Times of India
CHENNAI The National Payments Corporation of India (NPCI) is piloting a ‘federated model’ in collaboration with banks to eliminate frauds using UPI transactions. India’s umbrella organisation for operating retail payments and settlement systems is also leveraging AI and machine learning tools to detect suspicious transactions through UPI. NPCI chief risk officer Viswanath Krishnamurthy said that NPCI and banks can share …
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