UPI to ban gaming transactions under ₹50
IPL season brings a surge of micro transactions which are done on gaming and fantasy sports apps. The banks and NPCI (RBI regulated body behind UPI) claim that this leads to a strain on the banking and payments infrastructure. With transactions as low as ₹1 being advertised by apps and cricketers advertising for these apps, NPCI is not amused.
While one understands the compulsions of both the parties, applying a ban seems drastic. We wonder if wallet players like PayTM stand to benefit from this ban?
Mastercard makes a foray into SME credit cards
Bank of Baroda and Mastercard have jointly launched a small business-focussed, QR code-embedded credit card
. The card allows an SME to make purchases using credit and earn points. And the same card comes with a Bharat QR code which allows the business owner to collect money.
While you might not want to stick your QR code embedded credit card at your shop for obvious reasons. It might be handy for SMEs who are on the move?
Lending program for women MSMEs
More power to you, Ladies! Show'em how it’s done!