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Payments and fintech roundup: MobiKwik, BHIM and RuPay

Traffic challans can be paid via MobiKwik

Wallet player MobiKwik has launched traffic challans on its application and will be available to residents of Mumbai. Mumbai Traffic police say that it does approximately 25 lakh challans monthly. Once the challan is generated, the user can log in to their MobiKwik account, tap on challan category, enter the challan number and pay. Mumbai residents can also check the pending amount on the Mumbai Traffic Police app and pay digitally through MobiKwik. The company said it is in advance stages to close challan payment for other cities as well.

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Mobile manufacturers are planning pre-install BHIM 

Six mobile manufacturers in India are planning to pre-install BHIM payments app, as indicated by this DNA report. The publication quoted a senior official from the ministry of electronics and information technology but did not name the manufacturers. The official added that the government is asking all mobile manufacturers to install the BHIM app. We’ve said it many times and we’ll keep saying it again, BHIM was developed by the National Payments Corporation of India (NPCI) which is a bank-led organization and also developed the UPI. As such, it makes no sense for the government to push the BHIM app and promote it via cashbacks. Meanwhile, the number of BHIM transactions has been declining as compared to other UPI apps. BHIM accounted for only 10% of the entire transactions on the UPI.

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RuPay transactions failing in Anna University

A report by News Today says that Anna University in Channai has stopped transactions from RuPay following multiple failures. The university’s management has been urging students to either use net banking or cards from Visa and MasterCard to pay fees. The report also cited an unnamed official who said that RuPay transactions have a failure rate of more than 50% and that it takes 10 days to process a refund. Note that more than 40% of debit cards issued are on RuPay however, its acceptance on online has been low. For the period between April 2016 and January 2017, 61.79 million transactions took place on e-commerce websites using RuPay cards. The value of these transactions stood at Rs 4,139 crore.

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