CURRENT AFFAIRS

Detailed explanation-1: -WhatsApp Pay gets NPCI nod to onboard 100 million users.

Detailed explanation-2: -ICICI Bank has partnered with the National Payments Corporation of India (NPCI) to launch a range of credit cards on the native payments network Rupay.

Detailed explanation-3: -Q. Which social media platform has received approval from the National Payments Corporation of India (NPCI), to enter UPI market? Notes: WhatsApp has received the National Payments Corporation of India’s (NPCI) approval to enter Unified Payment Interface (UPI) in phased manner.

Detailed explanation-4: -RuPay. RuPay is an Indigenously developed Payment System – designed to meet the expectation and needs of the Indian consumer, banks and merchant eco-system. RuPay supports the issuance of debit, credit and prepaid cards by banks in India and thereby supporting the growth of retail electronic payments in India.

Detailed explanation-5: -RuPay, a new card payment scheme launched by the National Payments Corporation of India (NPCI), has been conceived to fulfill RBI’s vision to offer a domestic, open-loop, multilateral system which will allow all Indian banks and financial institutions in India to participate in electronic payments.