CURRENT AFFAIRS

Detailed explanation-1: -Mumbai, India, 27th January 2023: Worldline [Euronext: WLN], a global leader in payments services, today announced the launch of its Buland Bharat digital payments suite, which is designed specially keeping in mind the needs and wants of small and medium businesses (SMBs) in India.

Detailed explanation-2: -Bank of Baroda has announced it has won the #1 position in overall digital transactions amongst large banks for FY20-21. The bank showed the exceptional growth of digital payment transactions achievement and was felicitated by the Ministry of Electronics & Information Technology (MeitY), Govt.

Detailed explanation-3: -India currently has 6 Payment Banks namely, Airtel Payment Bank, India Post Payment Bank, Fino, Paytm Payment Bank, NSDL Payment Bank and Jio Payment Bank.

Detailed explanation-4: -Contactless payments – a secure payment method using a debit, credit or smartcard enabled by Radiofrequency Identification (RFID) or near-field communication (NFC). This digital payment method is growing in popularity due to its speed and seamless experience.