UPI Lite is an instant payment system. Users can now transact up to ₹1,000 per payment, with a total wallet limit of ₹5,000.
NPCI plans to meet with representatives from fintech firms like CRED, Flipkart, Fampay, Amazon etc.
RBI is going to introduce a new set of guidelines for issuing licenses in the POS business.
Soon individuals can deposit cash into their bank accounts via UPI.
As these changes roll out, the landscape of the Indian credit card market is poised for a significant transformation.