CURRENT AFFAIRS

2022

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Which entity has partnered with NPCI to enable Indian customers with an active UPI ID to receive real-time, international payments into their bank accounts?

A	TerraPay
B	Western Union
C	Small World
D	Transfast

Explanation:

Detailed explanation-1: -With this collaboration, TerraPay is keen to build interoperability among the various financial instruments that it powers and get marginalized or underserved communities into the mainstream of digital payments.

Detailed explanation-2: -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-3: -IndusInd Bank partners with NPCI.

Detailed explanation-4: -Notes: WhatsApp has received the National Payments Corporation of India’s (NPCI) approval to enter Unified Payment Interface (UPI) in phased manner. The Social-media giant, owned by Facebook has over 400 million users in India. The UPI payments service is expected to be launched to 2 crore WhatsApp users initially.

Detailed explanation-5: -National Payments Corporation of India (NPCI) is the umbrella organisation for all retail payments system in India. Bharat Bill Payment System (BBPS) is a Reserve Bank of India (RBI) conceptualised system driven by National Payments Corporation of India (NPCI).

There is 1 question to complete.