Fintech & Payments

NPCI International Payments Limited partnered with LankaPay to enable UPI acceptance via LankaQR codes across multiple Sri Lankan outlets. Indian travellers can use UPI-enabled apps to scan LankaQR codes to complete payments at participating merchants. Named participating outlets include Cinnamon Hotels, Taj Hotels, Barista, Keells Supermarket and Odel. UPI processes over 20 billion transactions monthly and enables instant account-to-account transfers; Indian arrivals numbered over 416,000 in 2024 and 531,000 in 2025.

A statutory inspection covering the company's operations from April 2024 to June 2025 identified an impermissible debit from an escrow account. RBI issued a notice to the company and imposed the Rs 3.1 lakh penalty after the charges were sustained. The penalty was imposed through an order dated March 9 under sections 30(1) read with 26(6) of the Payment and Settlement Systems Act, 2007. RBI stated the action was based on deficiencies in statutory and regulatory compliance and not intended to pronounce upon the validity of any transaction or agreement.

The revised fee applies to eligible non-commercial vehicles equipped with a valid FASTag and takes effect on April 1, 2026, for the 2026–27 financial year. The Annual Pass grants validity for one year or a total of 200 toll plaza crossings for a one-time fee. The pass is available at approximately 1,150 fee plazas across the National Highways and National Expressways network. The user base for the Annual Pass has exceeded 56 lakh private vehicle owners since its launch on August 15, 2025.

The Prudential Regulation Authority granted full banking authorisation after an application lodged in 2021 and a prior restricted UK banking licence in 2024. Revolut addressed accounting issues, EU regulatory breaches and reputational concerns prior to receiving full authorisation. The authorisation covers retail and business customer accounts. Revolut will start introducing current accounts to a small number of new customers within days.

Dreamplug Paytech Solutions Private Limited (CRED) is authorised to operate a payment system under Reserve Bank of India supervision. The authorisation permits onboarding merchants and collecting payments on their behalf across payment instruments. The licence covers handling settlements and processing refunds for merchant transactions. CRED and its subsidiaries now hold two Reserve Bank of India authorisations, including a Prepaid Payment Instrument (PPI) licence, and reported consolidated operating revenue of Rs 2,735 crore in FY25.

OpenAI enabled Instant Checkout for logged-in ChatGPT Pro, Plus, and Free users buying from U.S.-based Etsy sellers. Users can tap a Buy button to confirm order, shipping, and payment details inside the conversation. Payment options supported include Apple Pay, Google Pay, Stripe, and credit card. Integration with more than 1 million Shopify merchants is coming soon.