Axis Bank, in collaboration with Freecharge, has introduced India’s first gold-backed credit line on the UPI platform. This innovative offering enables MSMEs, merchants, and self-employed individuals to access instant overdraft facilities against gold, with seamless repayments via UPI and a 100% digital journey.
Unified Payments Interface (UPI) has set a historic record, crossing 20 billion transactions in a single month for the first time in August 2025. This milestone underlines India’s rapid digital payments adoption and global leadership in fintech innovation.
In July 2025, PhonePe extended its dominance in the UPI ecosystem with a commanding 46.7% market share, followed by Google Pay at 36.2%. Paytm held 7.1%, while other players accounted for the remaining 10%.
The National Payments Corporation of India (NPCI) has announced the removal of the UPI peer-to-peer (P2P) 'Collect Request' feature starting October 1, 2025, in a bid to curb financial frauds and enhance user security. Here’s what it means for UPI app users.
ICICI Bank has announced it will begin charging fees to payment aggregators for UPI transactions starting August 1, 2025. This move could significantly impact digital payment platforms, merchants, and the broader fintech ecosystem.
