This UPI offering on the slice application will allow its users to make and receive payments via the app itself, creating a holistic payment experience Bangalore, Karnataka, India – Business Wire India slice launches the integration of UPI into its app for all its existing and 10mn waitlisted users, accelerating its journey in creating a one-stop payment platform. With this, the country’s leading credit card challenger transforms into a one-stop payment app extending its seamless and simple user experience across all payment methods. Following its trial in 2021, the company is now rolling out the integration in a phased manner for its users. On the credit side, slice has scaled significantly and will be inching towards profitability in the coming months. As slice turns profitable in the core product, the company will increasingly be using the free cash flows from there to increase the scope of what slice stands for its consumers. This fintech unicorn will continue to expand its payments product and add all the possible payment methods for the customers in the future. Similar to other UPI apps, slice users can now create a UPI account on the slice app by linking it to their bank accounts. With andy (&ID), the unique ID on slice, users will be able to make payments just by searching for the &ID. Commenting on the launch, Rajan Bajaj, Founder - CEO, slice said, “At slice, our purpose is to make the world better at using money and time. And slice UPI is built to fulfill this purpose. While building our UPI product, we ensured that we removed all the friction - there is no advertisement, there is no cross-selling, and there are no 100+ CTAs. The question we keep asking ourselves is “how can the user do this in 1 second or even less time?” And we wanted to make this happen, now.” Earlier, only slice’s credit users could enjoy its simple and intuitive experience. By extending UPI services to its 10mn waitlisted customers, the company will now be able to provide them with an equally superior experience. Furthermore, it will enable the company to understand this set of users and activate credit for them in the future. Rajan added, “The Payments network in India is very open with interoperability. Due to this, I believe that a product with the best consumer experience will eventually win people’s hearts. The significant growth which we have seen in the last few years on our slice super card proves that we have really struck a chord culturally with our consumers and they would love to use us for all their payment needs.” Sanjeev Moghe, President & Head-Cards & Payments, Axis Bank, said, With the increasing adoption of digital payments, Axis Bank remains committed to extend its robust, reliable and scalable Axis Bank UPI stack for wider use to the customers and partners. In further deepening of its collaborative ecosystem, Axis Bank is partnering with slice for extending UPI services. We believe that with this partnership, ​we would be able to capitalize on slice's immense domain strengths for empowering customers to a seamless and simple digital payment experience. UPI on slice has been launched not only for its existing but also its 10mn waitlisted users. The company aims to make the feature accessible to new to slice users in the coming months to experience its one-stop payments experience which is simple, fast, and cool. In November 2021, slice entered India’s prestigious Unicorn club after raising $220mn in its Series-B fundraise co-led by Tiger Global and Insight Partners. The company is building the best payment experience in India with its slice super card. Having registered a 40% month-on-month growth and an existing and 10mn waitlisted users, the company aims to make its UPI product the only payment app that millennials and Gen-Z in India need. About slice slice is India's best credit card challenger to pay bills, manage expenses, and unlock rewards. A fintech startup focused on India’s youngsters, slice aims to build a smart, simple, and transparent financial platform to redesign the financial experience for the millennials and Gen Z. With existing and 10 million waitlisted users, slice is the market leader in this rapidly growing segment. Backed by leading investors such as Tiger Global, Insight Partners, Advent International, Blume Ventures and Gunosy Capital, slice has cumulatively raised $240mn in its series A and B rounds and is currently valued at over $1bn. PWR PWR

slice Launches UPI for Its Existing and 10mn Waitlisted Users

India

AxisBank

Bangalore

Karnataka

Payments

Devanshu Singla

Major Indian crypto exchanges CoinSwitch Kuber and WazirX have suspended rupee deposits for the purchase of cryptocurrency using UPI, a widely used state-backed payment system, drawing users to raise concerns on social media. This comes after a statement last week by the National Payments Corporation of India (NPCI) saying it was not aware of any crypto exchange using its Unified Payment Interface (UPI) framework, which simplifies bank transfers. Also Read | Robinhood adds Shiba Inu, Solana, Compound and Polygon to its crypto offerings,On Wednesday, the CoinSwitch app was not allowing users to make deposits, while rival exchange WazirX said on Twitter, “UPI is not available,” adding that it had no estimated time to fix the issue with UPI deposits. You have closed the INR deposit without any information. At least let us know how long it will be closed, a Twitter user, Avijit Debnath, asked CoinSwitch on the social media platform. Also Read | Coinbase suspends UPI payments within three days of India launch,According to a Reuters report, the decision by CoinSwitch to disable UPI acceptance resulted from “regulatory uncertainty” after the NPCI statement. While exchanges like CoinSwitch Kuber have temporarily blocked all rupee deposit services, including UPI and bank transfers via NEFT, RTGS and IMPS, others are still showing the netbanking option for INR deposits to buy crypto but the list of supporting banks is very small. Also Read | Why crypto donations are skyrocketing worldwide: Explained,In February 2022, the government decided to tax gains from cryptocurrencies and other digital assets at 30%. Regulatory clarity is the need of the hour. There are currently a lot of conflicting signals on the regulatory regime, leading to a lack of certainty, said Abhishek Malhotra, a founding partner of TMT Law Practice. In October 2021, CoinSwitch had raised over $260 million, at a valuation of $1.9 billion, underlining the rise in popularity of crypto trading. Also Read | Cash App users hit by data breach: What's compromised and what's safe?,No official data is available on the size of the Indian crypto market, but as per industry estimates the number of investors is between 15 million and 20 million, with total holdings of around Rs 40,000 crore ($5.25 billion).

{\"time\":1649860349128,\"strCount\":2999,\"blocks\":[{\"type\":\"paragraph\",\"data\":{\"text\":\"Major Indian <a href=\\\"https://opoyi.com/english/how-indias-new-crypto-tax-impacts-investors\\\">crypto</a> exchanges <a href=\\\"https://opoyi.com/english/coinswitch-suspends-all-crypto-purchase-modes-on-app-including-bank-transfer\\\">CoinSwitch</a> Kuber and WazirX have suspended rupee deposits for the purchase of cryptocurrency using UPI, a widely used state-backed payment system, drawing users to raise concerns on social media.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"This comes after a statement last week by the National Payments Corporation of India (NPCI) saying it was not aware of any crypto exchange using its Unified Payment Interface (UPI) framework, which simplifies bank transfers.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also Read |&nbsp;<a href=\\\"https://opoyi.com/english/robinhood-adds-shiba-inu-solana-compound-and-polygon-to-its-crypto-offerings\\\">Robinhood adds Shiba Inu, Solana, Compound and Polygon to its crypto offerings</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"On Wednesday,  the CoinSwitch app was not allowing users to make deposits, while rival exchange WazirX said on Twitter, “UPI is not available,” adding that it had no estimated time to fix the issue with UPI deposits.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"\\\"You have closed the INR deposit without any information. At least let us know how long it will be closed,\\\" a Twitter user, Avijit Debnath, asked CoinSwitch on the social media platform.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also Read |&nbsp;<a href=\\\"https://opoyi.com/english/coinbase-suspends-upi-payments-within-three-days-of-india-launch\\\">Coinbase suspends UPI payments within three days of India launch</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"According to a Reuters report, the decision by CoinSwitch to disable UPI acceptance resulted from “regulatory uncertainty” after the NPCI statement.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"While exchanges like CoinSwitch Kuber have temporarily blocked all rupee deposit services, including UPI and bank transfers via NEFT, <a href=\\\"https://opoyi.com/topic/rtgs\\\">RTGS</a> and IMPS, others are still showing the netbanking option for INR deposits to buy crypto but the list of supporting banks is very small.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also Read |&nbsp;<a href=\\\"https://opoyi.com/english/why-crypto-donations-are-skyrocketing-worldwide-explained\\\">Why crypto donations are skyrocketing worldwide: Explained</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"In February 2022, the government decided to tax gains from cryptocurrencies and other digital assets at 30%.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"\\\"Regulatory clarity is the need of the hour. There are currently a lot of conflicting signals on the regulatory regime, leading to a lack of certainty,\\\" said Abhishek Malhotra, a founding partner of TMT Law Practice.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"In October 2021, CoinSwitch had raised over $260 million, at a valuation of $1.9 billion, underlining the rise in popularity of crypto trading.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also Read |&nbsp;<a href=\\\"https://opoyi.com/english/8-million-cash-app-users-hit-by-data-breach-whats-compromised-and-whats-safe\\\">Cash App users hit by data breach: What's compromised and what's safe?</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"No official data is available on the size of the Indian crypto market, but as per industry estimates the number of  investors  is between 15 million and 20 million, with total holdings of around Rs 40,000 crore ($5.25 billion).\"}}]}

<ul>
  <li>CoinSwitch Kuber and WazirX have suspended rupee deposits using UPI</li>
  <li>WazirX said on Twitter, “UPI is not available”</li>
  <li>This comes after NPCI said it was not aware of any crypto exchange using UPI</li>
</ul>

Opoyi Business

CoinSwitch, WazirX suspend deposits via UPI

Cryptocurrency

Business

rupees

Bitcoin

CryptoWallet

Finance

IndiaNews

Sudipta Biswas

New Delhi, Delhi, India

Nepal is set to become the first foreign country to use India's UPI technology, which will enable the country's economy to transform into a digital economy, the National Payments Corporation of India (NPCI) said on Thursday. ,NPCI International Payments Ltd (NIPL), the international arm of NPCI, has joined hands with Gateway Payments Service (GPS) and Manam Infotech to provide the services in Nepal. Also read: Family reunion: Akhilesh, Mulayam, Shivpal campaigns for UP polls together after 5 years,GPS is the authorised payment system operator in Nepal and Manam Infotech will deploy Unified Payments Interface (UPI) in that country, reported PTI. The collaboration will serve the larger digital public good in Nepal and bolster interoperable real-time person-to-person (P2P) and person-to-merchant (P2M) transactions in the neighbouring country, NPCI said in a statement. Also read: PM Modi, Sidhu slam Kejriwal after Kumar Vishwas’ ‘separatist’ allegation,Nepal shall be the first country outside of India to adopt UPI as the payments platform driving the digitalization of cash transactions and furthering the vision and objectives of the Nepal Government and Nepal Rastra Bank as the Central bank, it said. This collaboration will enable the last-mile consumers in Nepal to reap the benefits of an open interoperable payments system driving immediate payment transfers between bank accounts and merchant payments in real-time. Also read: Supreme Court lifts stay on Haryana’s 75% quota for locals in private jobs,It will also enable the way forward for real-time cross-border P2P remittances between Nepal and India, NPCI said. UPI service has created a significant positive impact in India in terms of the country's digital payment transformation, Rajesh Prasad Manandhar, CEO of GPS said. We expect UPI in Nepal would play a pivotal role in transforming the digital economy of the country and dreams of building a less-cash society, he said. Also read: India withdraws curbs on flights to and from Ukraine amid Russian threat,UPI enabled 3,900 crore financial transactions in India in 2021,In 2021, UPI enabled 3,900 crore financial transactions valuing USD 940 billion, which is equivalent to approximately 31 per cent of India's GDP. solutions to global markets and collaborating with local payment system operators. We are confident that this initiative will stand as a testimony to NIPL's technological capabilities and vision of scaling our unique offerings globally, Ritesh Shukla, CEO of NIPL said in the statement. Also read: Amitabh Bachchan's tribute to Bappi Lahiri: 'Music director extraordinaire',UPI's real-time payment infrastructure will help catalyze the process of financial inclusion in Nepal and will also create more opportunities for businesses, NPCI said. It will help modernize Nepal's digital payment infrastructure and bring the convenience of digital payments to citizens of Nepal. Manam has always been part of major digital transformation across the various regions of the world, we believe this partnership will eliminate all the barriers of payment transformation within Nepal and across the border thereby transforming the regional economy, Naga Babu Ramineni, Director of Manam said. Also read: Man who rammed Ajit Doval’s home claims mind control; cops say unstable,UPI one of most successful payment systems,UPI is amongst the most successful real-time payments (RTP) systems globally, providing – simplicity, safety, and security in P2P and P2M transactions in India. Nepal has a population of about 30 million (3 crore) with around 45 per cent banked. Mobile penetration of over 135 per cent with 65 per cent of the population using smartphones provides a bedrock for seamless replication of the digital revolution in India to be replicated in Nepal, NPCI said. Also read: 13 dead after falling into a well during a wedding in Kushinagar, Uttar Pradesh,Over the next few months, all three companies will work closely together to deploy UPI in Nepal along with all the functionalities and features presently available in India. NIPL, being an internationally focused subsidiary of NPCI, is looking to drive deep collaboration with overseas partners in the areas of UPI like deployment, cross-border remittance, acceptance, using indigenously developed technologies in digital payments, NCPI said.

{\"time\":1645159157499,\"strCount\":5217,\"blocks\":[{\"type\":\"paragraph\",\"data\":{\"text\":\"Nepal is set to become the first foreign country to use India's UPI technology, which will enable the country's economy to transform into a digital economy, the National Payments Corporation of India (NPCI) said on Thursday. \"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"NPCI International Payments Ltd (NIPL), the international arm of NPCI, has joined hands with Gateway Payments Service (GPS) and Manam Infotech to provide the services in Nepal.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also read:&nbsp;<a href=\\\"https://opoyi.com/english/family-reunion-akhilesh-mulayam-shivpal-campaigns-for-uttar-pradesh-elections-together-after-5-years\\\">Family reunion: Akhilesh, Mulayam, Shivpal campaigns for UP polls together after 5 years</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"GPS is the authorised payment system operator in Nepal and Manam Infotech will deploy Unified Payments Interface (UPI) in that country, reported PTI.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"The collaboration will serve the larger digital public good in Nepal and bolster interoperable real-time person-to-person (P2P) and person-to-merchant (P2M) transactions in the neighbouring country, NPCI said in a statement.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also read:&nbsp;<a href=\\\"https://opoyi.com/english/pm-modi-sidhu-slam-kejriwal-after-kumar-vishwas-separatist-allegation\\\">PM Modi, Sidhu slam Kejriwal after Kumar Vishwas’ ‘separatist’ allegation</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"\\\"Nepal shall be the first country outside of India to adopt UPI as the payments platform driving the digitalization of cash transactions and furthering the vision and objectives of the Nepal Government and Nepal Rastra Bank as the Central bank,\\\" it said.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"This collaboration will enable the last-mile consumers in Nepal to reap the benefits of an open interoperable payments system driving immediate payment transfers between bank accounts and merchant payments in real-time.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also read:&nbsp;<a href=\\\"https://opoyi.com/english/supreme-court-lifts-stay-on-haryanas-75-quota-for-locals-in-private-jobs\\\">Supreme Court lifts stay on Haryana’s 75% quota for locals in private jobs</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"It will also enable the way forward for real-time cross-border P2P remittances between Nepal and India, NPCI said. UPI service has created a significant positive impact in India in terms of the country's digital payment transformation, Rajesh Prasad Manandhar, CEO of GPS said.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"\\\"We expect UPI in Nepal would play a pivotal role in transforming the digital economy of the country and dreams of building a less-cash society,\\\" he said.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also read:&nbsp;<a href=\\\"https://opoyi.com/english/india-withdraws-curbs-on-flights-to-and-from-ukraine-amid-russian-threat\\\">India withdraws curbs on flights to and from Ukraine amid Russian threat</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"<b>UPI enabled 3,900 crore financial transactions in India in 2021</b>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"In 2021, UPI enabled 3,900 crore financial transactions valuing USD 940 billion, which is equivalent to approximately 31 per cent of India's GDP.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"solutions to global markets and collaborating with local payment system operators. We are confident that this initiative will stand as a testimony to NIPL's technological capabilities and vision of scaling our unique offerings globally,\\\" Ritesh Shukla, CEO of NIPL said in the statement.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also read:&nbsp;<a href=\\\"https://opoyi.com/english/amitabh-bachchans-tribute-to-bappi-lahiri-music-director-extraordinaire\\\">Amitabh Bachchan's tribute to Bappi Lahiri: 'Music director extraordinaire'</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"UPI's real-time payment infrastructure will help catalyze the process of financial inclusion in Nepal and will also create more opportunities for businesses, NPCI said.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"It will help modernize Nepal's digital payment infrastructure and bring the convenience of digital payments to citizens of Nepal.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"\\\"Manam has always been part of major digital transformation across the various regions of the world, we believe this partnership will eliminate all the barriers of payment transformation within Nepal and across the border thereby transforming the regional economy,\\\" Naga Babu Ramineni, Director of Manam said.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also read:&nbsp;<a href=\\\"https://opoyi.com/english/man-who-rammed-ajit-dovals-home-claims-mind-control-cops-say-unstable\\\">Man who rammed Ajit Doval’s home claims mind control; cops say unstable</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"<b>UPI one of most successful payment systems</b>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"UPI is amongst the most successful real-time payments (RTP) systems globally, providing – simplicity, safety, and security in P2P and P2M transactions in India.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Nepal has a population of about 30 million (3 crore) with around 45 per cent banked. Mobile penetration of over 135 per cent with 65 per cent of the population using smartphones provides a bedrock for seamless replication of the digital revolution in India to be replicated in Nepal, NPCI said.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Also read:&nbsp;<a href=\\\"https://opoyi.com/english/13-dead-after-falling-into-a-well-during-a-wedding-in-kushinagar-uttar-pradesh\\\">13 dead after falling into a well during a wedding in Kushinagar, Uttar Pradesh</a>\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"Over the next few months, all three companies will work closely together to deploy UPI in Nepal along with all the functionalities and features presently available in India.\"}},{\"type\":\"paragraph\",\"data\":{\"text\":\"NIPL, being an internationally focused subsidiary of NPCI, is looking to drive deep collaboration with overseas partners in the areas of UPI like deployment, cross-border remittance, acceptance, using indigenously developed technologies in digital payments, NCPI said.\"}}]}

Ajay Joseph

<ul>
  <li>In 2021, India reported 3,900 digital transactions, thanks to UPI</li>
  <li>The collaboration will serve the larger digital public good in Nepal</li>
  <li>UPI's real-time payment infrastructure will help catalyze the process of financial inclusion in Nepal</li>
</ul>

#Payments

slice Launches UPI for Its Existing and 10mn Waitlisted Users

CoinSwitch, WazirX suspend deposits via UPI

Nepal to become first foreign country to use India's UPI system to enable digital economy