Payment System News - Latest Updates & Headlines
RTA in Dubai completes 40 pc of nol digital payment system upgrade
Dubai, March 16: The Roads and Transport Authority (RTA) in Dubai has completed 40 percent of the nol system upgrade, transitioning from the existing card-based ticketing system to the more advanced account-based ticketing (ABT) technology.
Musk criticises US govt payment systems, highlights alleges USD 100 billion fraud annually
Washington, DC, February 9: Elon Musk, the CEO of Tesla and SpaceX, on Sunday voiced strong concerns about the US government's payment systems, revealing troubling 'inefficiencies' and potential 'fraud' worth over USD 100 billion every year.
US Federal judge blocks DOGE's access to Treasury Dept payment system
Washington DC, February 8: A federal judge, citing a risk of "irreparable harm," has temporarily restricted Elon Musk's Department of Government Efficiency team from accessing a critical Treasury Department payment system, CNN reported.
US Treasury Department assures security of payment system after backlash over Musk's DOGE access
Washington DC, February 5: The US Department of the Treasury on Tuesday clarified that it is neither halting nor denying federal spending and remains committed to protecting the nation's payment infrastructure, according to a report by the New York Times.
Retail digital payments in India witness 100-fold jump in 12 years
New Delhi, Jan 28: Retail digital payments in India have grown from 162 crore transactions in the financial year 2012-13 to over 16,416 crore transactions in the financial year 2023-24 —- approximately 100-fold increase over 12 years, a new RBI report has revealed.