According to reports, the National Payments Corporation of India (NPCI) is working on enabling customers to convert their payments into EMIs in an effort to further boost the adoption of the Unified Payments Interface (UPI).
According to the Economic Times, the payments authority will permit fintech firms to incorporate the capability that enables consumers to convert their UPI payments into EMIs. As per the report, the capability would be comparable to card payments made at PoS terminals. Interestingly, the NPCI already offers two UPI credit products: RuPay credit cards and UPI credit lines.
Commented on the development, Rohit Pateria, Founder & CEO, Lark Finserv stated, “NPCI’s initiative to enable EMI on UPI is a transformative step that will democratize access to credit at the point of digital payment. By allowing consumers to instantly convert their UPI payments into manageable monthly instalments, this innovation is set to deepen financial inclusion, empower merchants with higher sales, and expand the credit ecosystem within India’s most widely used payment platform. It marks a pivotal evolution from a payment system to a comprehensive credit network, fostering sustainable growth in the digital economy.”
“Currently, UPI handles approximately 20 billion transactions monthly, with an active user base of 250-300 million. The ability for these millions of users to convert their UPI payments into EMIs at the point of sale, similar to how credit card EMIs work, will be greatly beneficial for the credit industry. This will impact individuals and MSME businesses who may not possess a credit card. For instance, or a family making a high-value appliance purchase could now opt for EMI through their UPI app by simply scanning a QR code, without needing additional paperwork. Similarly, a small vendor could offer their regularcustomers the option to pay in instalments, thereby improving cash flow for both parties. This can position UPI as an important credit tool for micro and small enterprises,” said Dipal Dutta, CEO & Founder- RedoQ.
How UPI Credit Line Works?
In 2023, the UPI credit line feature was introduced. It enables banks to provide pre-approved credit lines to consumers and small enterprises, which can then be used for UPI transactions.
The credit line on UPI service is currently available from several finance businesses, including Paytm and PhonePe. Actually, just week ago Paytm reintroduced its BNPL offering as a UPI credit line. In the meanwhile, in 2022, the RuPay credit card for UPI was introduced.
Many startups are now pushing the feature, which is widely used. In order to mainstream UPI-linked credit cards, Kiwi raised INR 208.5 Cr (about $24 million) last month.
Expanding Network of UPI
Earlier this year, Dilip Asbe, MD and CEO of NPCI, stated that the RuPay network handled about 16% of all credit card transactions in India. According to Asbe, UPI was used to process about half of these credit card transactions.
The introduction of the EMI function for UPI payments is anticipated to fuel UPI’s upcoming growth phase and bring the NPCI one step closer to its goal of 100 billion UPI transactions per month.
In August, UPI transactions reached a new all-time high of 20.01 billion, up 2.8% month over month. This represented a 34% YoY increase. Compared to INR 25.08 Lakh Cr in July, the value of UPI transactions in August was INR 24.85 Lakh Cr.
Quick
Shots
•NPCI is working to allow UPI payments
to be converted into EMIs.
•Fintech firms can offer this feature
similar to card PoS EMI options.
•RuPay credit cards and UPI credit
lines already available.
•Launched in 2023; provides
pre-approved credit lines for consumers & small businesses.
•Paytm, PhonePe, and other fintechs
already offer UPI credit lines; Paytm recently reintroduced BNPL via UPI.
•RuPay handled around 16% of all
credit card transactions; UPI processed around 50% of these.
The National Payments Corporation of India (NPCI)’s worldwide card payment network, RuPay, has established a one-year strategic alliance with BookMyShow, an entertainment company, to introduce the “Live Events Passport”.
What is the RuPay–BookMyShow Live Events Passport?
For RuPay users throughout India, the programme seeks to offer seamless payment options together with unique cultural and recreational experiences. The collaboration, which was announced on 12 August, will function through both digital and physical touchpoints, guaranteeing a seamless payment and entertainment experience.
NPCI claims that this partnership will establish RuPay as more than just a means of payment but as “an enabler of rewarding and relevant experiences.”
Key Benefits for RuPay Cardholders?
In addition to the extensive calendar of live concerts and performances on BookMyShow, RuPay cardholders will have unique access to some of the platform’s most well-known events, such as Sunburn, Lollapalooza India, and Bandland, through the Live Events Passport.
Events Included in the Live Events Passport
Early pre-sale ticket access, priority ticketing areas, carefully chosen food and drink options, exclusive merchandising privileges, and fast-lane admission for on-site top-ups are all included in the perks package. Additionally, cardholders will have access to exclusive lounge facilities at a few locations, offering a more upscale on-ground experience akin to the VIP lounges offered by HSBC and Kotak Mahindra.
RuPay will build up its own experience zones at significant events to increase brand engagement. It is anticipated that these lounges and activation areas would function as first-rate locations for patrons to congregate, further fusing entertainment with lifestyle advantages.
BookMyShow on Expansion Spree
BookMyShow, a major force in India’s live entertainment market, keeps adding international performers and major festivals to its lineup. The partnership, according to the business, comes as the Indian live entertainment market is “undergoing a remarkable transformation,” propelled by consumers looking for experiences that are immersive, personalised, and packed with value.
A younger population, more disposable wealth, and easier access to international music and cultural festivals have all contributed to India’s significant increase in demand for live events. Partnerships like RuPay and BookMyShow are part of a larger trend in the industry where lifestyle platforms and payment networks come together to provide packaged experiences.
How This Partnership Boosts India’s Live Entertainment Market?
RuPay’s payment solutions will be integrated with BookMyShow into important customer touchpoints, facilitating quicker and easier ticket purchases and granting access to special benefits. It is anticipated that the collaboration will increase RuPay’s attractiveness to tech-savvy and experience-driven customers, particularly in tier-1 and metropolitan areas.
This agreement also fits with RuPay’s overarching brand strategy, which uses both digital marketing and in-person activations to link itself with high-engagement consumer groups, including sports, music, and cultural events.
The government is allegedly considering a plan to reinstate the Merchant Discount Rate (MDR) on Unified Payments Interface (UPI) transactions over INR 3,000 in an effort to relieve financial strain on banks and payment service providers.
As per various media reports, the action is intended to address the operational and infrastructure expenses associated with high-value digital payments.
In order to distinguish high-value payments from low-value ones, current debates propose a change from the current framework by tying MDR to transaction value as opposed to merchant turnover.
The zero-MDR framework that has been in effect since January 2020 may come to an end as a result of this modification.
According to a media report, larger transactions may soon be subject to a merchant charge, reverting the zero-MDR policy that has been in effect since January 2020, even if small-ticket UPI payments will probably continue to be free.
From Zero to Generating Revenue Though MDR
In India, UPI currently controls about 80% of all retail digital transactions. However, banks and payment providers have voiced worries about sustainability and escalating costs since the zero-MDR regime does not produce any money from high-value transactions.
Many people think that the lack of MDR has tempered interest in making additional investments in digital infrastructure.
According to a media article, the Payments Council of India has responded by recommending a 0.3% MDR on big merchants for UPI transactions in order to support the upkeep and expansion of the digital payments ecosystem.
RuPay Will Continue to Enjoy the Benefits
RuPay cards are mostly not included in the current MDR price system, which ranges from 0.9% to 2% for debit and credit card transactions. If the new MDR structure is put into place, RuPay credit cards might still be excluded.
For the time being, RuPay credit cards are anticipated to continue to be excluded from the Merchant Discount Rate. After speaking with important parties, including banks, fintech firms, and the National Payments Corporation of India (NPCI), government representatives said a final decision might be made in one to two months.
The report also stated that if the change were to be put into effect, it would signify a strategic pivot from encouraging broad use to guaranteeing the financial viability of India’s digital payment systems.
This is the most recent turn of events; earlier this year, the Payment Council of India had prompted the government of Prime Minister Narendra Modi to reevaluate its Zero MDR policy on UPI transactions.
A media outlet last week had predicted that the digital payments network will soon surpass the daily transaction volume of the multinational payments giant Visa, making it the world’s largest retail interbank payment settlement platform.
UPI had 644 million transactions as of June 1 and 650 million the following day. In FY24, Visa handled an average of 639 million transactions every day.
No MDR on UPI, Confirms Finance Ministry
The government reportedly plans to impose a merchant discount rate (MDR) on expensive UPI transactions, although the Union Finance Ministry denied this. The ministry described the reports as “false and baseless” in a statement. In a post on X, the ministry stated that rumours and assertions that the MDR will be billed for UPI transactions are wholly untrue, unfounded, and deceptive.
Ministry further stated that nation’s people are unnecessarily apprehensive, afraid, and suspicious as a result of such sensational and unfounded rumours. The government is still totally committed to encouraging digital payments through UPI, the message went on to say.
The reply follows reports from a few media publications that the government intends to support banks and payment solution providers by imposing MDR on transactions valued at INR 3,000 and above.
The government might allow lenders to impose MDR on transaction value rather than merchant turnover, according to the reports. The Payment Council of India had called on the government of Prime Minister Narendra Modi earlier this year to reevaluate the Zero MDR rule for UPI transactions.
The Indian Premier League (IPL) is undoubtedly India’s top-branded Twenty20 league organized by the Board of Control for Cricket in India (BCCI). Established in 2008, it has quickly developed into one of the richest and most popular T20 leagues in the world, attracting top players from across the cricketing globe. This league is known for its energy: electric matches, strategic player formations, and thrilling player auctions, which lure thousands and millions of fans every season.
The IPL is a fine blend of sports and entertainment, proving to be a very ferocious battlefield, with intoxicating displays of skills and ever-inventive methods of presenting the game. Its financial clout and international notoriety make it the soul of cricket, virtually remapping the commercial face of the game and exhibiting cricket in its purest glory.
TATA is an Indian multinational conglomerate whose diversified business lines are automotive, steel, IT, and consumer goods. The Indian Premier League (IPL) has also included TATA as its title sponsor for the renewal period of 2024 to 2028 as a sponsorship deal with the badminton body worth INR 2,500 crores. TATA stepped again into the field of sports. The TATA IPL will now do well in opening up cheap avenues for the company’s markets at various match locations, broadcasts, and online, connecting millions of cricket fans for an exciting time online.
TATA has added one more point of dollar weight to the IPL’s skilling maturity, giving the league a huge boost in retaining its strong position among the top sports leagues worldwide. The league’s brand value increased by a whopping 13% to touch $12 billion in 2024, and it is now on an upward curve. So, through this sponsorship, TATA is taking a step towards promoting Indian sports while strengthening its worldwide brand positioning at a higher level.
My11Circle
My11Circle – Sponsors of Indian Premier League 2025
My11Circle, the fantasy sports app owned by Play Games24x7 Pvt. Ltd., permits users to form virtual teams for cricket and football matches that pay in cash based on individual performance. The platform draws sports lovers with contests like Beat The Expert, Mega, and Private contests, enhancing the gaming experience with inputs from users regarding their sports knowledge and analytical skills.
Being an associate sponsor of IPL 2025 gives My11Circle significantly more brand exposure while attracting more users to its platform. It also increases fan engagement through its fantasy cricket contests, which are interactive contests that enhance the IPL experience. With promotional offers such as exclusive prizes and cash awards, participation is more encouraged. This sponsorship strengthens My11Circle in the fantasy sports industry while making the most of IPL’s popularity to grow its user base.
AngelOne
Angel One – Sponsors of Indian Premier League 2025
Angel One Limited – the most renowned and popular Indian stock broker, is the same before as Angel Broking; only opened its doors in 1996. Angel One provides different services ranging from stock broking to currency, commodity broking, margin trading, depository services, and mutual fund distribution. The company is a member of most major Indian exchanges like NSE, BSE, and MCX.
Angel One, as one of the associate sponsors of IPL 2025, is expected to be visible at large by advertisement in the eyes of the public because of such a league that attracts almost everyone in this country to use its financial services. What is more, is that it is trying to show its commitment to the financial literacy cause and encourage sound investment among sports fans. Angel One’s contribution to the monetary halls of the IPL’s economy, will make the league grow further while strengthening its brand in the financial services domain, as IPL’s popularity will help Angel One grow its clients across India’s shoreline.
Rupay
RuPay – Sponsors of Indian Premier League 2025
RuPay, the indigenous Indian payment system launched by the National Payments Corporation of India (NPCI) in 2012, covers all electronic payments initiated through any of the member banks or financial institutions. The RuPay was developed to provide debit, credit, prepaid, and government scheme cards which were all in alignment with the vision of a domestic, open, and multilateral payment network by the Reserve Bank of India.
As an associate sponsor of IPL 2025, RuPay gets a huge opportunity for brand promotion, using the league’s vast audience to promote its secure and convenient digital payment solutions. This collaboration serves the purpose of facilitating electronic payments in the Indian economy, thereby promoting the “less cash” economy movement. Thus, RuPay’s contribution to the financial ecosystem of IPL would also contribute, in its way, to the economic potential of the league and its more positive ramifications in the larger sports and entertainment sector. With the IPL, RuPay will position itself even further in the area of India’s financial services.
Star Sports
Star Sports – Sponsors of Indian Premier League 2025
Star Sports was established in 1992 when a consortium company incorporated the units into Disney India Pvt. Limited, with a specialized focus on cricket, football, and tennis. As an official broadcast partner of IPL 2025, Star Sports will give high-quality TV broadcasting over a series of channels for varied regional languages during matches.
In addition to IPL 2025, Star Sports’ complete merger with the Sports18 brand includes the launch of new regional channels such as Star Sports 2 Hindi, Telugu, and Tamil. It blends with what is being done to promote the league through campaigns and highlight reels to generate buzz among viewers. Then again, it’s TV broadcast IPL matches while on the other side of the globe; it’s streamed digitally through JioCinema. Through that stronghold plus all the promotions done, Star Sports is incredible regarding its contribution to India’s ever-expanding IPL audience, both local and international.
Jio Cinema
JioCinema – Sponsors of Indian Premier League 2025
The streaming platform JioCinema once stood at the forefront of reliability when it came to the richness of its content, such as high-definition live sports. But with its merger into Disney + Hotstar, it has transformed into something entirely different: JioHotstar, which would become the official digital streaming platform for IPL 2025, thus granting seamless access to live matches from multiple devices.
Beginning from the predecessor, JioHotstar will continue to provide 4K streaming for a much-enhanced experience by cricket fans. It further aims to reach the masses by covering IPL in many regional languages, hence catering to over 1.4 billion Indians. Besides, promotional activities are also planned to recruit and engage users using IPL’s tremendous following. With such advanced streaming and outreach, JioHotstar will be an important component of elevating IPL 2025’s digital experience.
CEAT is a major manufacturer of tires and is a member of the RPG group. The company has been producing tires since 1958 and since then has specialized in tires for high-performance boreholes. The company operates in more than 110 countries. The company believes in innovation and customer satisfaction. As it is now the official umpire partner for IPL 2025, CEAT has sponsored umpires’ uniforms and equipment.
And that’s not all, CEAT also studies the humongous audiences of IPL through varied promotional activities to enhance CEAT’s presence in the market. The greater support that IPL 2025 provides to CEAT in terms of brand association is because it’s a fantastic opportunity for building brand identity within India and across the globe-alignment with the target to reach many more consumers. CEAT, however, claims that investing in the league contributes to this economic ecosystem of IPL manifestly using the bigger sports and entertainment industry, although all of this sounds along the lines of mutually benefiting statements.
Wonder Cement
Wonder Cement – Sponsors of Indian Premier League 2025
This was initiated in 2010, and it has continued to provide mostly high-quality Portland pozzolana and ordinary Portland cement. This Cement is part of the RK Group and has set up its world-class plant in Nimbahera, Rajasthan, with an installed capacity of producing 11 million tons of cement annually. The company has extended into Maharashtra, other states, and around the world as grinding units. Wonder Cement has become an integral part of itself within IPL 2025: although the actual role is as yet unclear, even the involvement would up-mark the brand visibility through sponsorships and promotions.
Thus joining IPL 2025 would allow Wonder Cement to augment its brand visibility through the reach of an audience that at the time might number into the hundreds of millions. Such participation thus would level up the IPL financial ecosystem, which would, in turn, help other sports and entertainment in the country. This affiliation will help the company to reach more and more people, consolidating its position in the industry and diversifying the consumer base.
Campa Cola
Campa Cola – Sponsors of Indian Premier League 2025
Campa Cola was a very popular Indian soft drink brand in the 1970s and 1980s before falling away from the limelight after its acquisition by Reliance Industries in 2022 from an initial cost of INR 22 crores. It was launched by the Pure Drinks Group in 1977 only to perish when the multinational companies came up. With its new variants and low prices, Campa Cola is ready to fight for its rightful space in the Indian beverages market.
As a co-sponsoring sponsor for IPL 2025, Campa Cola is harnessing the broad audience of the tournament to enhance its brand visibility. Reliance is strategically utilizing this sponsorship to solidify its market presence by providing attractive retail margins and ensuring quality front displays. By investing in IPL, and therefore creating a competitive environment that appeals to more and different types of consumers, Campa Cola builds its brand while strengthening the economic model that IPL is creating for itself.
IPL follows a round-robin group and knockout format, which means that each team plays against the others in a predetermined number of matches, and the top-performing teams advance to the playoffs.
Where are the IPL sponsors advertising?
Sponsors are advertising both on television broadcasts and on the digital streaming platform, JioHotstar.
In the upcoming fiscal year, the government has allocated INR 437 crore instead of the INR 2000 crore it had set aside the previous year to promote RuPay debit cards and low-value UPI transactions (up to INR 2,000). The central government has made low-value UPI and RuPay debit card payments free in an effort to promote digital payments. Nonetheless, a MDR or merchant discount rate of more than 1% is still applied to transactions over INR 2,000.
Since processing such transactions costs money, the program was launched in 2023 to encourage banks, other payment system operators, and app developers to do so. Processing a UPI P2M (Peer-to-Merchant) transaction usually costs stakeholders (payer’s bank, beneficiary’s bank, UPI app provider, and NPCI) close to 0.25% of the transaction value. The stakeholders must receive reimbursement through these incentives since they are unable to recoup the expenditures due to zero MDR.
In order to conduct digital transactions, retailers must pay banks or payment service providers a fee known as MDR. UPI incentives are a crucial source of income for smaller players to maintain themselves because the government removed MDR costs on UPI in 2019 in an effort to encourage digital payments.
System’s Expansion Makes Government to Lower Incentives
The government has been decreasing the incentives for the same as the system expands, following an initial increase of INR 2,484 crore. The initial allocation of INR 1,441 crore was eventually increased to INR 2,000 crore last year. Given that the updated figure was higher, the government might think about providing additional funding during the course that exceeds INR 437 crore. Many have encouraged the government to reconsider the zero MDR rule in light of UPI’s current mainstreaming. The total value of UPI transactions in December 2024 was INR 23.24 lakh crore, compared to INR 707.93 crore in December 2016 and INR 4.16 lakh crore in December 2020.
UPI was used for 16,730.01 million transactions as of December 2024, up from 2,234.16 million in December 2020. In seven countries—the United Arab Emirates, Singapore, Bhutan, Nepal, Sri Lanka, France, and Mauritius—the payment method is now operational.
The Goal is to Promote More Balanced Economy
The goal of this action was to promote a more balanced environment and avoid market dominance. At first, December 31, 2024, was the deadline for compliance. However, the NPCI extended this deadline by two years, mandating adherence by December 31, 2026, in recognition of the possible disruption to the quickly expanding digital payments sector.
Major players that now control sizable market shares, such as PhonePe and Google Pay, will have more time to broaden the UPI market thanks to this extension.
The Indian Premier League (IPL) is a highly popular and competitive professional Twenty20 (T20) cricket league founded in 2008. The league follows a round-robin group and knockout format, which means that each team plays against the others in a predetermined number of matches, and the top-performing teams advance to the playoffs. The league comprises eight teams, each representing a major Indian city. It is widely considered one of the world’s biggest and most lucrative cricket leagues. The IPL has gained a massive following across India and beyond, with millions of cricket fans tuning in to watch the thrilling matches and rooting for their favorite teams.
The Tata Group, a well-known and prominent Indian conglomerate, boasts a vast range of products and services in more than 150 countries across six continents. With operations in over a hundred countries, the Tata Group has established itself as a global player in various industries.
In January of 2024, the Board of Control for Cricket in India (BCCI) announced that the Tata Group has secured the title sponsorship rights for the Indian Premier League (IPL) for the next five years, from 2024 to 2028. This renewal of the partnership is a testament to the strong relationship between the two entities and the immense value of the IPL in the global sporting landscape.
The Tata Group’s commitment to the IPL is reflected in the record-breaking sponsorship amount of INR 2500 crore, which highlights the significance of the tournament and its impact on cricketing entertainment. The collaboration between the Tata Group and the IPL underscores a shared dedication to excellence, innovation, and providing fans with an unmatched cricketing experience.
My11Circle is an online fantasy game created for cricket fans who love to showcase their knowledge and analytical skills. It is owned and operated by Play Games24x7 Pvt. Ltd. This company has many years of experience in the online games industry. Additionally, My11Circle is the proud sponsor of the Lucknow IPL team in a three-year deal that began in 2022.
In this game, you get to don the hat of a selector and create a play of your choice. As a manager of your team, you get to put your trust in the players on the field to keep the scorers busy and the spectators on the edge of their seats. This game is an opportunity to test your skills and create your fortune. My11Circle is managed by a professional team of experts with years of industry experience, ensuring players have the best gaming experience.
Angel One
IPL 2024 Sponsors – Angel One
Angel One is a prestigious full-service broking firm in India that has amassed a clientele exceeding 20 million. The company is well-regarded for its innovative and comprehensive suite of services that cater to the needs of investors and traders alike. These services include online trading, investing, advisory services, margin trading facilities, algorithmic trading, and intelligent order execution.
The Super App is the centerpiece of Angel One’s offerings. It is a robust platform with advanced features like basket orders, GTT orders, SmartAPI, and sophisticated charting tools. These cutting-edge resources empower users to navigate the capital markets with expertise and precision, making informed investment decisions easier.
Angel One’s commitment to innovation and excellence has earned it several accolades and partnerships, including a five-year collaboration with the Indian Premier League (IPL) from 2024 to 2028. The company’s association with the IPL is a testament to its reputation as a trusted and reliable financial partner for investors and traders in India.
RuPay is a payment network product of the National Payments Corporation of India (NPCI). This umbrella organization facilitates and powers retail payments nationwide. The Payment and Settlement Systems Act, 2007 provides the legal framework that empowers the Reserve Bank of India (RBI) and the Indian Banks’ Association (IBA) to create a secure electronic payment and settlement system in India, which includes the RuPay payment network.
RuPay is a unique and first-of-its-kind global card payment network created and designed in India. It is widely accepted at various points, such as ATMs, POS devices, and e-commerce websites nationwide. RuPay is known for its high level of security and protection against anti-phishing. This fraudulent practice aims to steal sensitive user information such as passwords, usernames, and credit card details.
Star Sports
IPL 2024 Sponsors – Star Sports
Star Sports is a well-known group of South Asian pay television sports channels that Disney Star, a subsidiary of Disney India, operates. The network is highly regarded for its extensive cricket coverage in India. It holds the pay television rights to broadcast domestic national team matches, the Indian Premier League, and International Cricket Council (ICC) tournaments. In addition to its television coverage, many Star Sports properties are available for streaming in India through Disney+ Hotstar, a sister streaming service. Star Sports has established itself as the region’s leading broadcaster of sporting events, offering fans sports-related content and live matches across multiple platforms.
JioCinema is a popular Indian over-the-top media streaming service that allows users to access a vast collection of video-on-demand and live-streaming content. The service is owned by Viacom18, a joint venture of Reliance Industries and Paramount Global, and was initially launched on 4 May 2016, coinciding with the public launch of the Jio mobile carrier.
In April 2022, the service was brought under Reliance’s Viacom18 joint venture, further strengthening its position in the Indian streaming market. JioCinema has become the go-to platform for Indian entertainment, offering users the convenience of free advertising- and subscription-based VOD and live-streaming content.
One of the significant highlights of JioCinema is its association with the Indian Premier League (IPL), the official streaming platform. The IPL is one of the most-watched cricket leagues globally, attracting millions of viewers every season. JioCinema has successfully onboarded 18 sponsors and over 250 advertisers for the upcoming season, showcasing the service’s growing popularity.
Moreover, the platform has an impressive roster of digital streaming sponsors for this year’s season, including Dream11 as a co-presenting sponsor, which is expected to enhance the overall user experience. With its extensive collection of content and top-notch streaming quality, JioCinema has become a preferred streaming choice for millions of users in India.
CEAT
IPL 2024 Sponsors – CEAT
CEAT Limited is a renowned multinational company specializing in manufacturing high-quality tires. The well-known RPG Group owns the company, which was founded in 1958. Over the years, CEAT has established a formidable presence in global markets and has become a trusted name among customers worldwide. CEAT’s impressive production capacity of over 165 million tires per year is a testament to its commitment to quality and innovation. The company caters to various vehicles, including passenger cars, two-wheelers, trucks, buses, light commercial vehicles, earth-movers, forklifts, tractors, trailers, and auto-rickshaws.
In recognition of its exceptional services, the Board of Control for Cricket in India has selected CEAT as an official partner to sponsor specific segments of the IPL matches. The aggregate spend of about Rs 240 crore over five years is a testament to CEAT’s reputation as a reliable and trustworthy brand committed to excellence and customer satisfaction.
Paytm is India’s leading digital payment platform that provides users with a secure, efficient, and seamless experience. It allows users to make payments, transfers, and recharge their mobile phones and data cards, among other online transactions. The platform is designed with a user-friendly interface, making it easy for anyone to navigate through the app and complete transactions in seconds.
One of the most remarkable features of Paytm is its flawless integration with BHIM UPI, which ensures hassle-free transactions for its users across the country. Users can stay informed and in control of their financial activities with instant notifications and real-time updates on all their transactions. This reinforces transparency and confidence in their economic activities.
Paytm’s versatility extends beyond payments and money transfers. It is also a one-stop solution for bill payments, mobile recharges, DTH, data card top-ups, and Metro Card recharges. This makes it accessible anytime, anywhere and eliminates the need to visit different platforms for various payment needs.
Paytm and Paytm Insider have recently partnered with six IPL franchises, making them the official ticketing partner. This partnership is a significant milestone for Paytm and Paytm Insider, as it is a testament to the platform’s reliability and efficiency in handling online transactions.
Dream11
IPL 2024 Sponsors – Dream11
Dream11 is a popular online platform that allows users to create imaginary teams that are comprised of real-life players and participate in fantasy sports games. The platform offers its users a chance to earn cash rewards based on the match performance of the players they select on their teams. Dream11 provides various games in categories such as cricket, football, kabaddi, and National Basketball Association, providing users with multiple options.
In April 2019, Dream11 achieved a significant milestone by becoming the first Indian fantasy sports company to become a unicorn. This achievement was a testament to the platform’s popularity and success in the Indian market.
Moreover, Gujarat Titans announced Dream11 as their principal sponsor for the upcoming IPL 2024 season. The team’s jersey will bear Dream11’s logo on the front, showcasing the platform’s association with the sport and the team. With this partnership, Dream11 continues to strengthen its position in the Indian sports market and cater to its growing user base.
The Board of Control for Cricket in India (BCCI) said that the Saudi Tourism Authority (STA) will be sponsoring the Indian Premier League (IPL), marking the first time that a government body of a foreign country will be sponsoring the high-profile T20 league. STA aims to position Saudi Arabia as a premier destination for Indian travelers by creating a sense of affinity and bolstering awareness. The partnership with the IPL is a significant development for STA as it expands its already impressive portfolio of global strategic relationships.
The IPL is one of the most prominent events on the international sporting calendar, drawing millions of viewers and fans worldwide. With the sponsorship deal, STA hopes to capture the attention of the younger demographic and establish itself as a significant player in the tourism industry. By using the IPL as a platform, the Saudi Tourism Authority will showcase the beauty and cultural richness of Saudi Arabia to millions of cricket fans worldwide, thereby increasing the country’s visibility as a premier tourist destination.
Overall, the partnership between STA and the IPL significantly enhances the relationship between India and Saudi Arabia. It will strengthen the ties between the two countries and create new opportunities for businesses and entrepreneurs to explore and expand their reach.
Saudi Aramco, officially known as the Saudi Arabian Oil Group or simply Aramco, is a state-owned company that distributes petroleum and natural gas. It is considered the national oil company of Saudi Arabia and is headquartered in Dhahran. As of 2022, Aramco is the second-largest company in the world by revenue, a testament to its significance in the global energy industry.
Recently, Aramco entered into a partnership with the Indian Premier League (IPL) to become the exclusive sponsor of two of the most prestigious individual awards in the sport of cricket: The Orange Cap, awarded to the highest run-scorer in the tournament, and the Purple Cap, given to the bowler who takes the most wickets. This move is just one of the many sports sponsorships that Aramco has undertaken in recent years, all to raise awareness about the brand while supporting excellence in the world of sports. With this partnership, Aramco has cemented its position in the cricket world. This sport is trendy in many parts of the world, including India, where the IPL is held.
Mastercard
IPL 2024 Sponsors – Mastercard
Mastercard Inc. is a leading global payment technology corporation operating in over 210 countries and territories. With its headquarters located in Purchase, New York, Mastercard offers a broad range of payment transaction processing and related services, including credit, debit, and prepaid cards, as well as digital payment solutions.
Mastercard replaced Paytm as the official title sponsor for all international and domestic cricket matches organized by the Board of Control for Cricket in India (BCCI). This move is part of Mastercard’s efforts to expand its presence in the Indian market and capitalize on the corporate cricket fanbase. The company’s sponsorship deal with the BCCI is expected to provide a significant platform to showcase its brand and services to a vast audience of cricket enthusiasts across India and beyond.
DP World, headquartered in Dubai, United Arab Emirates, is a prominent multinational logistics company that offers a wide range of services, including cargo logistics, port terminal operations, maritime services, and free trade zones. The company was established in 2005 due to the merger between Dubai Ports Authority and Dubai Ports International. With its strong global presence and a robust network of facilities and infrastructure, DP World has become a leading player in the logistics industry.
Recently, the Indian Premier League (IPL) team, Delhi Capitals (DC), has signed a new multi-year sponsorship agreement with DP World. The Emirati multinational logistics company will now sponsor the Delhi-based IPL team, providing it with the necessary support to enhance its performance and expand its reach.
FAQs
What is the playing format of IPL?
IPL follows a round-robin group and knockout format, which means that each team plays against the others in a predetermined number of matches, and the top-performing teams advance to the playoffs.
Who is the title sponsor of IPL?
The Tata Group has secured the title sponsorship rights for the Indian Premier League (IPL) for the next five years, from 2024 to 2028 for ₹2,500 crore.
What is the prize money for IPL 2024?
The prize money for IPL 2024 is yet to be disclosed, but it’s anticipated to either match or exceed last year’s figures. Winners could potentially receive INR 30 crore, while the runners-up may secure a prize of INR 10 crore.
Money is one of the most, if not the most important thing in human life. If one wants to survive and live a comfortable life in this world, money is the answer. Without money, nothing is possible.
Technology has been introduced in this world to make our life effortless and to be honest, it’s doing the job, quite well. In a time where we live, having those big pink and green notes with us is a necessity but carrying them all time is a headache.
Imagine bringing a bundle of cash just for some mere shopping, sounds risky and uncomfortable, right? Of course, another option like a cheque is also there but somehow it seems overdone.
Thanks to technology, now we have the access to get money directly from the bank anytime and anywhere. How? Well, the answer is the thin payment card also known as plastic money. Nowadays, payment cards are the go-to option for any kind of transaction.
The dynamic nature of these cards leads to easy and safe transactions. Now, one can just shop whatever they want by just having a card that can fit in the pocket of their jeans. It is definitely better than carrying a huge stack of money, which is not that safe and bothersome in addition. Credible ways for the online transactions as well, payment cards have now become a significant form of payment system in the world.
“We’re talking about payments, customers care about shopping.”
By just having a card, credit, or debit, life becomes much more easier. Whoever has a bank account, that person is eligible to have a payment card. Although there are some rules that one needs to follow properly, to attain a credit or a debit card.
Credit Card
To be simple, with the help of a credit card, a person can purchase anything and can pay for that at a later time. Basically, it means one can just borrow money directly from the bank.
One needs to attain the age of 18 to get a credit card.
Every Credit Card has a limit, one cannot exceed that limit.
If by any chance the borrowed amount is not paid fully, then the remaining amount in the card will be charged with interest.
If a person cannot pay the full amount by the time limit, there is an option of EMI, where one can just pay a minimum amount for a time period.
Debit card/ATM Card
With the help of this card, one can withdraw money from the bank directly. It is derived from the deposited amount of the bank account.
One needs to be 18 to have a debit card. Although minors can also attain debit cards if they had their guardian open the bank on their behalf.
Every use of the card deducts the deposited amount from the savings account immediately.
Through an ATM that is open 24/7, one can withdraw cash, if they have a debit/ATM card.
The top payment card service system that rules the Indian financial service market are:
RuPay
VISA
Mastercard
RuPay
2012 was one of the prominent years for Indian financial industry. As RuPay, India’s first multinational financial service and payment service system was started by the National Payments Corporation of India(NPCI). The name RuPay is obtained from two words Rupee and Payment. It is the first Indian card payment system.
RuPay cards are specially made for Indian Citizens. As of now, 1100 banks in India issue RuPay cards. It is internationally accepted in Singapore, South Korea, UAE, Saudi Arabia, Australia, Myanmar, Maldives, Bhutan and Bahrain.
Some of the special features of RuPay Card are:
The transaction cost is lower, as it will happen internally, so no additional cost.
All the transaction data of the consumers will remain in the country.
No separate registration is required.
RuPay Debit cards provide some exciting offers, including cashbacks.
VISA
This American multinational financial services organization started its journey in the year 1958 and was launched by Bank of America. It was first known as BankAmericard but later in 1976, it was renamed Visa. It is also the largest card payment organization in the world. With its spectacular tactic, it has captured 50% of the card payment market of the world. It is also considered one of the most valuable companies in the world.
Some of its attractive features are:
It is globally accepted.
Visa is used in over 200 countries.
There are various good Credit card offers provided by VISA.
It provides better rental car insurance.
Mastercard
Mastercard is also an American multinational financial service and more than 25,000 financial institutions issues Mastercard debit and credit card. Mastercard was first introduced in 1966 and at first, it was known as Interbank. It is considered the second largest, right after Visa, card payment organization in India.
Some of the special characteristics of Mastercard are:
Mastercard is accepted almost all over the world.
With just a simple phone call, your card can be canceled.
The cost protection service of Mastercard is way better than other cards.
It is free from any kind of unauthorized charges. Basically, it provides Zero Liability Protection.
As per the order of Reserve Bank of India (RBI), Mastercard has stopped issuing any new debit or credit cards in India. RBI banned the financial service giant for not complying with the data storage rules it was asked to be followed.
With time and technological advancement, it is only fair that payment card has started replacing the big stack of notes. It is convenient and easier to use. Apart from that, it is comparatively safer as well. That small thin card holds a huge level of importance in our life now.
FAQ
Is RuPay Card Indian?
Yes, RuPay is an Indian Multinational financial services and payment service system.
What is the most Common Plastic Money?
Debit card is the most common form of plastic money.
What Are the Types of Payment Cards in India?
Debit cards, Credit cards, prepaid cards, and Electronic cards are mostly used in India for payments.
The National Payments Corporation of India (NPCI) is an umbrella organization for operating retail payments and settlements systems in India. It is an initiative by the Reserve Bank of India (RBI) and the Indian Bank Association (IBA) under the provisions of the Payment and Settlement Act, 2007, for creating a robust infrastructure in India for any kind of retail payments and settlements. Created with an intention to provide a fair infrastructure to the entire Indian Banking system, it is Not-for-Profit in nature and has made it possible to create payments both physically as well as electronically.
National Payments Corporation of India
Management Team
Under the non-Executive Chairmanship of Mr. Biswamohan Mahapatra, a veteran who has served 33 years at RBI, the organization is owned by a consortium of major banks. The Board of Directors consists of nominees from the Reserve Bank of India and from nine core promoter banks.
There are nine main promoter banks in India which are:
The corporation portfolio currently includes various services such as:
Unified Payments Interface (UPI)
Unified Payments Interface
Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing, and merchant payments under a single hood. It also caters to the “Peer to Peer” collect request which can be scheduled and paid as per requirement and convenience.
With the above context in mind, NPCI conducted a pilot launch with 21 member banks on 11th April 2016 by Dr. Raghuram G Rajan (ex-Governor of RBI) at Mumbai. Banks have now uploaded their UPI enabled Apps on Google Play store.
The Participants of the service include the payer, payee, remitter bank, beneficiary bank, NPCI, bank account holders, and merchants. Some examples of UPI apps that you may already be using are PayTm, BHIM, PhonePe, Axis Pay, and many more.
RuPay
RuPay
RuPay, which literally translates to Rupee and Payment merged together, is a domestic card scheme launched by NPCI in 2012 to fulfill the Reserve Bank Of India’s desire to have a domestic, open loop, and multilateral system of payments in India . In India, 90% of credit card transactions and almost all debit card transactions are domestic; however, the cost of transactions remained high due to the monopoly of foreign gateways like Visa and Mastercard.
RuPay facilitates electronic payment at all Indian banks and financial institutions. NPCI maintains ties with Discover Financial to enable the card scheme to gain international acceptance.
Lower costs and affordability, customized product offering for Indian customers, interoperability between payment channels and products, and protection of information related to Indian consumers are just some of the advantages of RuPay as claimed by NPCI.
RuPay Contactless
It is a contact-less technology feature that allows cardholders to wave their card in front of contact-less payment terminals without the need to physically swipe or insert the card into a point-of-sale device. This is an EMV-compatible, “contactless” payment feature similar to Mastercard Contactless, Visa Contactless and the ExpressPay, using RFID technology. All three use the same symbol. Contactless can currently be used on transactions up to ₹2000.
RuPay Contactless
NPCI developed RuPay Contactless’s specifications are open standards, interoperable, scalable, and can be adopted by all card schemes. RuPay Contactless (Transit as well as Retail) offers the unique proposition of one card for all payments. This card can be used for transit payments (bus, metro,cab etc.), toll, parking, small value offline retail payments, as well as normal day to day retail payments.
One Card Many Benefits
Bharat Interface for Money (BHIM)
Bharat Interface for Money
Bharat Interface for Money (BHIM) is a mobile application that lets you make quick payment transactions using Unified Payment Interface (UPI). You can make instant bank-to-bank payments and Pay and collect money using your mobile number or Virtual Payment Address (UPI ID). More than 125 lakhs citizens have been using the BHIM app since 2017.
Unlike mobile wallets (PayTM, MobiKwik, mPesa, Airtel Money, etc) which hold money, the BHIM app is only a mechanism which transfers money between different bank accounts. Transactions on BHIM are instantaneous and can be done 24/7 including weekends and bank holidays.
Users can create their own QR code for a fixed amount of money, which is helpful in merchant-seller-buyer transactions. Users can also have more than one payment address. If the 12-digit Aadhaar number is listed as a payment ID, the BHIM app will not require any biometric authentication or prior registration with the bank or Unified Payment Interface (UPI).
At present, there is no charge for transactions from ₹1 to ₹1 lakh. The minimum transaction amount should not be less than ₹1. A maximum of 20 transactions are allowed in a day. Some bank might however levy a nominal charge as UPI or IMPS transfer fee. Currently the fund transfer limit has been set to a maximum of ₹20,000 per transaction, and a maximum of ₹40,000 per day.
The BHIM app currently supports 13 languages (including English), though there are 22 official languages of India (excluding English) under 8th Schedule of Constitution of India. In near future, BHIM App is expected to support all 22 official languages of India along with other regional languages which are spoken widely next to the scheduled languages.
Immediate Payment Service (IMPS) is an instant payment inter-bank electronic funds transfer system in India. IMPS offers an inter-bank electronic fund transfer service through mobile phones. Unlike NEFT and RTGS, the service is available 24/7 throughout the year including bank holidays.
In 2010, the NPCI initially carried out a pilot for the mobile payment system with 4 member banks (State Bank of India, Bank of India, Union Bank of India and ICICI Bank), and expanded it to include Yes Bank, Axis Bank, and HDFC Bank later that year. IMPS was publicly launched on November 22, 2010. Currently, 53 commercial banks, 101 Rural/District/Urban and cooperative banks, and 24 PPIi have signed up for the IMPS service.
The participants of IMPS include the remitter (sender), beneficiary (receiver), banks, and National Financial Switch – NPCI.
You can avail the fund transfer service:
Using Mobile number & MMID (P2P).
Using Account number & IFS Code (P2A).
Using Aadhaar number (IMPS).
National Electronic Toll Collection (NETC)
National Electronic Toll Collection
The National Payments Corporation of India (NPCI) has developed the National Electronic Toll Collection (NETC) program to meet the electronic tolling requirements of the Indian market. It offers an interoperable nationwide toll payment solution including clearing house services for settlement and dispute management.
Interoperability, as it applies to National Electronic Toll Collection (NETC) system, encompasses a common set of processes, business rules, and technical specifications which enable a customer to use FASTag as a payment mode on any of the toll plazas irrespective of who has acquired the toll plaza.
FASTag is a device that employs Radio Frequency Identification (RFID) technology for making toll payments directly while the vehicle is in motion. FASTag (RFID Tag) is affixed on the windscreen of the vehicle and enables a customer to make toll payments directly from the account which is linked to FASTag.
FASTag offers the convenience of cashless payment along with benefits like savings on fuel and time as the customer does not have to stop at the toll plaza. The program is currently live on 415+ toll plazas across the country. As per NHAI, FASTag has unlimited validity. 7.5% cashback offers were also provided to promote the use of FASTag. Dedicated Lanes at some toll plazas have been built for FASTag.
*99#
*99#
*99# service has been launched to take the banking services to every common man across the country. Banking customers can avail this service by dialing *99#, a “Common number across all Telecom Service Providers (TSPs)” on their mobile phones and transact through an interactive menu displayed on the mobile screen. Key services offered under *99# service include sending and receiving inter-bank account to account funds, balance enquiry, and setting/changing UPI PIN besides other services.
*99# service is currently offered by 41 leading banks and all GSM service providers. It can be accessed in 13 different languages including Hindi and English. *99# is a unique interoperable direct to consumer service that brings together diverse ecosystem partners such as Banks and TSPs (Telecom Service Providers).
It is a common technology platform developed by NPCI which allows banks and TSPs to seamlessly integrate with each other and provide banking services to customers at large over mobile phones (basic as well as smartphone).
Features of *99# service include:
Use of USSD as the access channel that works across all GSM handsets (smartphone or otherwise), making it reach the last mile user.
Supports menu-based applications that are easy to maneuver for the users.
Does not require data connectivity (works on signaling channel) and this makes it a high availability service.
Round the clock availability (works even on holidays).
Accessible through a common code (*99#) across all GSM operators and mobile handsets.
Additional channel for using BHIM app and a key catalyst for financial inclusion.
The Bharat bill payment system is a Reserve Bank of India (RBI) conceptualised system driven by the National Payments Corporation of India (NPCI). It is a one-stop ecosystem for payment of all kinds of bills, thus providing an interoperable and accessible “Anytime Anywhere” bill payment service to Indian customers with certainty, reliability and safety of transactions.
Bharat Bill Pay has multiple modes of payment and provides instant confirmation of payment via an SMS or receipt. It offers myriad bill collection categories like electricity, telecom, DTH, gas, water bills etc. through a single window. In future, biller categories may be expanded to include insurance premium, mutual funds, school fees, institution fees, credit cards, local taxes, invoice payments, etc. An effective mechanism for handling consumer complaints has also been put in place to support consumers regarding any bill related problems in Bharat Bill Pay.
BHIM Aadhaar
BHIM Aadhaar
BHIM Aadhaar pay is an Aadhaar based payments interface which allows real time payments to merchants using the customer’s Aadhaar number and authenticating him or her through biometrics. BHIM Aadhaar Pay Merchant Incentive Scheme was effective from 1st April, 2017. The end date of BHIM Aadhaar Pay Merchant Incentive Scheme was 31st March, 2019.
Merchants can initiate transactions where customers pay money using their Aadhaar number and authenticate the transaction using their biometrics for the goods and services purchased. To be able to effect the same, the merchant should have an Android mobile with the BHIM Aadhaar app installed and a certified biometric scanner attached with the mobile phone/kiosk/tablet through a USB Port or with Micro-ATM/POS, mPOS. The customer and merchant should have their Aadhaar number linked to their bank accounts.
Merchant can view the transaction for its status, whether it was a successful transaction, pending transaction, or a failed transaction. Customers can pay using their Aadhaar number and biometrics at merchant locations where BHIM Aadhaar Pay is accepted.
The merchant enters the customer details and amount in his or her BHIM Aadhaar Pay App and the customer provides his biometrics on the Merchant App after selecting the bank.
Limit on Value of Transaction: The per transaction limit is Rs. 10,000 (as the maximum incentive is capped at Rs. 50 at 0.5% of the transaction value) The maximum incentive which can be earned by the merchant in a month is Rs.2000. The BHIM Aadhaar Pay enabled merchant will receive the incentive between one to seven days after the date of transactions (the merchant should check with their banks for further details).
