50p reading list #27 — 16 May 2018

Here’s what’s new.

NPCI to launch UPI 2.0 soon

The much awaited upgrade to UPI 1.0 is in the pipeline for the NPCI. The umbrella body for retail payments in the country is planning to incorporate attachments in the newer specifications. Traders, merchants etc would be able to attach an invoice along with the intent to pay.

NPCI plans to launch UPI 2.0 for added user convenience, security

PhonePe sold over 250kg of gold since December

Payments company PhonePe announced recently that it sold over 250 kg of gold on its platform since December. Meanwhile, Paytm also announced that it has recorded transactions worth 800 kg.

How India's payments majors Paytm and PhonePe are battling it out for the Gold Rush

Paytm looking to grow business; will invest upto 5000 crores in 3 years

Paytm will invest in growing its business in the bank transfers and digital payments. According to the report, the focus seems to be more on recurring billing and subscriptions.

Paytm's big bet on e-transactions, to invest Rs 5,000 crore

NPCI testing sound-based payments as part of UPI

The NPCI is working with PhonePe, ToneTag and UltraCash to test sound-based payments. The technology will allow users to make payments when they’re in close proximity to each other.

Making UPI payments could soon be as easy as making a sound with your phone