paytm - Daily News Capsule

Paytm Payments Bank on Tuesday said it has won 82 percent of dispute cases on behalf of FASTag users with toll plazas in 2020 and facilitated refund of wrongly deducted toll charges to 2.6 lakh customers. The payments bank said it has set up an automated dispute management process that recognizes deductions and immediately raises claims to reverse the additional charges. Paytm Payments Bank MD and CEO Satish Gupta announced in a press release, “We have endeavored to empower our users with seamless and hassle-free travel on road. In this quest, we support our users in every possible way, including fast redressal of any grievance they face with toll plazas.” The company repeatedly strives to ensure that customers are at all times charged the correct toll amount, he added. Pay...

Public sector lender Union Bank of India continued to witness the highest failure price for UPI transactions amongst India’s prime 30 UPI remitter banks due to technical factors in January. From 10.75 percent technical decline (TD) in December, the failure price jumped to 12.89 percent in January for Union Bank of India, information from the National Payments Corporation of India (NPCI) showed. In January, eighty percent of UBI's transactions were approved out of 85.95 million transactions, out of which almost 80 percent had been authorized while 7.36 percent were declined. Due to factors which include invalid pin entered by the customer, incorrect beneficiary account, exceeding per transaction limit or permitted count of transactions per day or quantity limit for the day, and so...