2 months ago
NEW DELHI/MUMBAI, Aug 4 (Reuters) - India has moved a step closer to reintroducing merchant fees on transactions made through its popular Unified Payments Interface (UPI) after proposed changes to the country's payments laws were introduced in parliament on Tuesday.
UPI, one of the world's largest real-time payments networks, processed 23.6 billion transactions worth 29.9 trillion rupees ($313.5 billion) in July, according to official data. Walmart's PhonePe and Alphabet's Google Pay dominate payments via UPI.
Industry executives have long argued that growth in digital payments has become harder to sustain because payment firms earn no fee on UPI transactions, limiting their ability to invest in the ecosystem.
An amendment to India's Payment and Settlement Systems Act, tabled in parliament by Finance Minister Nirmala Sitharaman, would allow the introduction of a merchant discount rate (MDR) on digital payments, according to industry and regulatory sources.
The sources said the change creates a legal basis for charging an MDR, but no decision has yet been made on the level of fees or where they would apply.
#according
UPI, one of the world's largest real-time payments networks, processed 23.6 billion transactions worth 29.9 trillion rupees ($313.5 billion) in July, according to official data. Walmart's PhonePe and Alphabet's Google Pay dominate payments via UPI.
Industry executives have long argued that growth in digital payments has become harder to sustain because payment firms earn no fee on UPI transactions, limiting their ability to invest in the ecosystem.
An amendment to India's Payment and Settlement Systems Act, tabled in parliament by Finance Minister Nirmala Sitharaman, would allow the introduction of a merchant discount rate (MDR) on digital payments, according to industry and regulatory sources.
The sources said the change creates a legal basis for charging an MDR, but no decision has yet been made on the level of fees or where they would apply.
#according
2 months ago
The body of renowned British-Nepali mountaineer Nirmal Purja has been recovered on Broad Peak in Pakistan, rescuers have said.
The Alpine Club of Pakistan said on Sunday that he was found about 5,700m up the mountain, where three further bodies have been sighted although their identities have not been confirmed.
The 43-year-old's death was announced on Saturday by his company, Elite Expeditions, which said he was among 10 people were killed in the avalanche. The Prince of Wales was among those to pay tribute.
Purja, who was born in Nepal and later served in the British Army, was known for scaling the world's 14 highest peaks in just over six months in 2019.
The Alpine Club said a ground team would take the recovered bodies to a ****** anese camp.
#club
The Alpine Club of Pakistan said on Sunday that he was found about 5,700m up the mountain, where three further bodies have been sighted although their identities have not been confirmed.
The 43-year-old's death was announced on Saturday by his company, Elite Expeditions, which said he was among 10 people were killed in the avalanche. The Prince of Wales was among those to pay tribute.
Purja, who was born in Nepal and later served in the British Army, was known for scaling the world's 14 highest peaks in just over six months in 2019.
The Alpine Club said a ground team would take the recovered bodies to a ****** anese camp.
#club
2 months ago
The body of renowned British-Nepali mountaineer Nirmal Purja has been recovered on Broad Peak in Pakistan, rescuers have said.
The Alpine Club of Pakistan said on Sunday that he was found about 5,700m up the mountain, where three further bodies have been sighted although their identities have not been confirmed.
The 43-year-old's death was announced on Saturday by his company, Elite Expeditions, which said he was among 10 people were killed in the avalanche. The Prince of Wales was among those to pay tribute.
Purja, who was born in Nepal and later served in the British Army, was known for scaling the world's 14 highest peaks in just over six months in 2019.
The Alpine Club said a ground team would take the recovered bodies to a ***** anese camp.
#british #alpine #nepali
The Alpine Club of Pakistan said on Sunday that he was found about 5,700m up the mountain, where three further bodies have been sighted although their identities have not been confirmed.
The 43-year-old's death was announced on Saturday by his company, Elite Expeditions, which said he was among 10 people were killed in the avalanche. The Prince of Wales was among those to pay tribute.
Purja, who was born in Nepal and later served in the British Army, was known for scaling the world's 14 highest peaks in just over six months in 2019.
The Alpine Club said a ground team would take the recovered bodies to a ***** anese camp.
#british #alpine #nepali
2 months ago
Aug. 1 (UPI) -- World-renowned mountaineer Nirmal Purja and nine others were killed during an avalanche on Pakistan's Broad Peak, it was confirmed Saturday.
Purja, 42, was among 10 climbers who were swept away by the deadly avalanche on Thursday, leading rescuers on a frantic search for survivors.
Officials said Friday they had found two bodies and one body part, but did not confirm who had died.
"Today, it is with profound sadness and immense heartbreak that we confirm that Nirmal 'Nimsdal' Purja tragically lost his life following the avalanche on Broad Peak," his company said in a statement on Instagram.
"We have also received confirmation that other members of the expedition sadly did not survive," the statement added.
#broad #peak #statement #thursday
Purja, 42, was among 10 climbers who were swept away by the deadly avalanche on Thursday, leading rescuers on a frantic search for survivors.
Officials said Friday they had found two bodies and one body part, but did not confirm who had died.
"Today, it is with profound sadness and immense heartbreak that we confirm that Nirmal 'Nimsdal' Purja tragically lost his life following the avalanche on Broad Peak," his company said in a statement on Instagram.
"We have also received confirmation that other members of the expedition sadly did not survive," the statement added.
#broad #peak #statement #thursday
2 months ago
Renowned British-Nepali mountaineer Nirmal Purja is among 10 people killed in an avalanche on Broad Peak in Pakistan, his company has said.
Elite Expeditions said it confirmed with "profound sadness and immense heartbreak" that Purja, 43, had died in Thursday's avalanche. His brother Kamal later wrote: "We will miss you every single day".
Purja, who was born in Nepal and later served in the British army, was known for scaling the world's 14 highest peaks in just over six months in 2019.
Pakistani officials earlier said the bodies of three climbers from his expedition - American Mallory Geis, Nadhira Ahmed Abdullah Al Harthy from Oman and Pur Bahadur Gurung from Nepal - had been recovered.
Purja's death was also confirmed by Nepal's Prime Minister Balendra Shah, who said that "the tragic death of six Nepalese and four other foreign climbers, including world record holder Nirmal Purja, in the Karakoram mountain range of Pakistan, has shocked us".
#nirmal #Pakistan #confirmed #death
Elite Expeditions said it confirmed with "profound sadness and immense heartbreak" that Purja, 43, had died in Thursday's avalanche. His brother Kamal later wrote: "We will miss you every single day".
Purja, who was born in Nepal and later served in the British army, was known for scaling the world's 14 highest peaks in just over six months in 2019.
Pakistani officials earlier said the bodies of three climbers from his expedition - American Mallory Geis, Nadhira Ahmed Abdullah Al Harthy from Oman and Pur Bahadur Gurung from Nepal - had been recovered.
Purja's death was also confirmed by Nepal's Prime Minister Balendra Shah, who said that "the tragic death of six Nepalese and four other foreign climbers, including world record holder Nirmal Purja, in the Karakoram mountain range of Pakistan, has shocked us".
#nirmal #Pakistan #confirmed #death
