Payment Systems News - Latest Updates & Headlines
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 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.