As conversations intensify across Europe and the UK about payment sovereignty, one theme continues to surface: our deep reliance on Visa and Mastercard. These networks have been central to the digital economy for decades, providing fraud protection, dispute resolution, merchant acceptance, and a level of resilience few systems can match. Their scale and stability remain essential. But as digital payments evolve and instant transfers become more normal, it’s time to broaden the payments landscape rather tha ...

Group 1 - The Reserve Bank of India (RBI) has announced a total of 18 bank holidays for March 2026, including closures on the fourth Saturday and regular Sunday [1][4] - Banks in India will be closed for four days between March 23 and March 29, 2026, due to public holidays and weekend breaks [1][8] - Bank holidays can vary by state, influenced by local festivals and observances, leading to non-uniform closures across the country [2][4] Group 2 - Online banking services remain operational during bank holidays, allowing customers to conduct financial transactions despite physical branch closures [5] - Customers can utilize UPI and bank apps for payments and money transfers at any time, even when banks are closed [6] - Essential banking services, such as fund transfers and card services, are available through various means, including credit and debit cards [7]

UPI’s Bharat push; Udaan preps reverse flipWant this newsletter delivered to your inbox?Also in the letter:■ VCs queue for RDI■ MeitY faces GPU woes■ Perfios names new CEONPCI counts on Bharat, Northeast to accelerate UPI adoption With UPI growth moderating, the National Payments Corporation of India (NPCI) is pushing fintech firms to What’s happening? NPCI is urging companies to prioritise states such as Uttar Pradesh, Rajasthan and Madhya Pradesh, as well as the northeast, where usage remains relatively l ...

Group 1 - Private and public sector banks in India will be closed for five days from March 16 to March 22, 2026, including weekends [1] - The Reserve Bank of India (RBI) has announced a total of 18 holidays for all lenders in March, including the State Bank of India (SBI) [1] - Banks are typically closed on the second and fourth Saturdays and all Sundays of the month, with variations based on regional and local requirements [4][2] Group 2 - Online banking services will remain available during bank holidays, allowing customers to conduct financial transactions without interruption [5] - Customers can utilize UPI and bank apps for payments and money transfers, which operate 24/7, although occasional maintenance may occur [6] - Various banking services, including credit and debit card applications, account maintenance, and fund transfer requests, are accessible even on holidays [7] Group 3 - Specific bank closures for holidays include March 17 for Shab-I-Qadr in Jammu and Srinagar, March 19 for multiple festivals in various cities, March 20 for Eid-Ul-Fitr in select locations, and March 21 for Ramzan-Id across numerous cities [8]

Core Points - The Reserve Bank of India (RBI) has announced a total of 18 public holidays for banks in March 2026, which includes weekends and specific regional holidays [1] - Banks will remain open on the first, third, and fifth Saturdays of each month unless a specific holiday is declared or customers are informed of technical issues [2] - The holiday schedule varies across states, and it is advisable for customers to check with their local bank branches for the specific holiday calendar [4] Holiday Schedule - March 1: Sunday - Pan India weekly off [7] - March 2: Monday - Holika Dahan in Kanpur and Lucknow (Uttar Pradesh) [7] - March 3: Tuesday - Holi (Second Day) celebrated in multiple states including Maharashtra, Madhya Pradesh, and others [7] - March 8: Sunday - Pan India weekly off [7] - March 14: Saturday - Second Saturday weekly off - Pan India [7] - March 20: Friday - Eid-Ul-Fitr in Jammu and Srinagar (J&K) and other regions [7] - March 26: Thursday - Shree Ram Navami in various states including Gujarat and Maharashtra [10] - March 31: Tuesday - Mahavir Jayanti in multiple states [10] Banking Operations - Online and mobile banking services remain operational during national holidays unless notified otherwise [8] - ATMs are available for cash withdrawals, and app and UPI services function as usual [8] - Transactions involving cheques and promissory notes are not available during the listed holidays as per the Negotiable Instruments Act [9]

Core Points - The Reserve Bank of India (RBI) has declared bank holidays on 3 March 2026 for various festivals including Holi, Dol Jatra, Dhulandi, Holika Dahan, and Attukal Pongala across multiple cities [1][3][11] - A total of 18 public holidays for banks in March 2026 have been listed by the RBI, which includes weekends and specific regional holidays [2] - Banks will also be closed on 4 March for Holi and on 8 March for Sunday, indicating a long weekend for customers [5] Bank Operations - Online and mobile banking services will remain operational during national holidays unless otherwise notified [6] - ATMs will be available for cash withdrawals, and app and UPI services will function as usual [6] Regional Variations - Bank holidays may vary by state due to local requirements, and customers are advised to check with their local bank branches for specific holiday schedules [3][4] - A detailed list of cities where banks will be closed on specific dates has been provided, including major cities like Mumbai, Kolkata, and Hyderabad [9][11]

Core Points - The Reserve Bank of India (RBI) has announced a total of 17 bank holidays for March 2026, applicable to all public and private banks across India, including the State Bank of India (SBI) [1][4] - The holidays include weekends and specific regional holidays, with banks remaining open on the first, third, and fifth Saturdays of each month unless a specific public or regional holiday is declared [2][4] Holiday Schedule - March 1: Sunday - Weekly off (Pan India) [4] - March 2: Monday - Holika Dahan (Kanpur and Lucknow) [4] - March 3: Tuesday - Holi (Second Day) and various regional celebrations across multiple states [4] - March 7: Saturday - Second Saturday weekly off (Pan India) [4] - March 8: Sunday - Weekly off (Pan India) [4] - March 13: Friday - Chapchar Kut (Aizawl) [4] - March 15: Sunday - Weekly off (Pan India) [4] - March 17: Tuesday - Shab-I-Qadr (Jammu and Srinagar) [4] - March 19: Thursday - Gudhi Padwa and other regional festivals [4] - March 20: Friday - Eid-Ul-Fitr (Jammu and Srinagar, Kochi, Thiruvananthapuram, Vijayawada) [4] - March 21: Saturday - Ramzan-Id and other regional holidays [4] - March 22: Sunday - Weekly off (Pan India) [4] - March 26: Thursday - Shree Ram Navami (various states) [4] - March 27: Friday - Shree Ram Navami (Bhopal, Bhubaneswar, Gangtok, Hyderabad, Patna, Vijayawada) [4] - March 29: Sunday - Weekly off (Pan India) [4] - March 31: Tuesday - Mahavir Jayanti (various states) [5] Banking Operations - Online and mobile banking services remain operational during national holidays unless otherwise notified for technical reasons [6] - ATMs are available for cash withdrawals, and app and UPI functions continue as usual [6] - The RBI's holiday calendar is established under the Negotiable Instruments Act, affecting transactions involving cheques and promissory notes during listed holidays [7]

Core Insights - Apple is negotiating with major Indian banks and international payment institutions to launch Apple Pay in India, targeting a mid-2026 rollout [1][5] - The negotiations indicate that the launch is in the preparatory stage, with Apple collaborating with Mastercard and Visa to enhance payment network support [1][5] Group 1: Market Context - Android devices dominate the Indian market, while Apple is expanding its production and retail presence to increase market influence [4][7] - Apple Pay is expected to support India's Unified Payments Interface (UPI) and card payments, which are crucial for digital transactions in the country [4][7] - The Indian digital payment landscape is competitive, with services like Google Pay, PhonePe, Amazon, and local platform Paytm already operational [4][7] Group 2: Regulatory and Technological Alignment - The Reserve Bank of India has recently allowed digital payments to use fingerprint and facial recognition authentication, aligning well with Apple Pay's Face ID and Touch ID features [4][7] - This compatibility supports various payment methods, including in-store, online, and in-app transactions [4][7] Group 3: Market Potential - India has over 750 million smartphone users, and low data costs along with government policies make it a significant market for Apple's service revenue growth [4][7] - The introduction of Apple Pay could not only enhance service income but also potentially boost sales of Apple devices such as Apple Watch, iPhone, iPad, and Mac [4][7] - Currently, Apple holds approximately 10% market share in the Indian smartphone market [4][7]

Core Insights - Adaptability is identified as a key competitive advantage in the payments industry, emphasizing the need for companies to be flexible in response to rapid changes [1][5] Industry Trends - The pandemic accelerated the shift towards digital and contactless payment methods, making speed and convenience essential expectations for consumers [3] - Global digital wallet transaction value reached $10 trillion in 2024, a significant increase from $3.9 trillion in 2020, driven by the dominance of mobile payments and Gen Z adoption [7] - AI-driven tools for fraud prevention, such as tokenization and multi-factor authentication (MFA), have reduced eCommerce fraud by up to 30%, with real-time detection processing over a billion transactions daily [7] - Embedded payments are projected to hit $6.5 trillion in volume by 2025, while open banking adoption is growing, albeit slowly in the U.S. due to regulatory challenges [7] - Cash usage has declined sharply in mature markets, yet it remains resilient globally, indicating diverse consumer preferences for payment methods [7] Merchant Needs - Small and medium-sized businesses (SMBs) are increasingly seeking seamless financial management solutions, expecting immediate access to funds and a consolidated view of their performance [7] Payment Innovations - The anticipated rise of real-time payments has been validated, with UPI in India and Pix in Brazil leading the way, although the U.S. has not scaled as expected [7] - The rapid adoption of AI, particularly following the introduction of ChatGPT in November 2022, has shifted consumer behavior towards seeking advice from AI rather than traditional search engines [7]

Core Points - The Reserve Bank of India (RBI) has announced a total of nine bank holidays for February 2026, applicable to all public and private banks across India, including the State Bank of India [1] - The holidays include weekends, specifically the second Saturday, fourth Saturday, and all Sundays [1] - Banks will remain open on the first, third, and fifth Saturdays of each month unless a specific public or regional holiday is declared [2] Holiday Schedule - February 1: Sunday - Pan India holiday for Sunday weekend [7] - February 8: Sunday - Pan India holiday for Sunday weekend [7] - February 14: Saturday - Pan India holiday for second Saturday [7] - February 15: Sunday - Pan India holiday for Sunday weekend [7] - February 18: Wednesday - Bank holiday in Gangtok, Sikkim for Losar [7] - February 19: Thursday - Bank holiday in Mumbai, Nagpur, and Belapur for Chhatrapati Shivaji Maharaj Jayanti [7] - February 20: Friday - Bank holiday in Aizawl and Imphal for State Day celebrations [7] - February 22: Sunday - Pan India holiday for Sunday weekend [7] - February 28: Saturday - Pan India holiday for fourth Saturday [7] Banking Operations - Online and mobile banking services will remain operational during national holidays unless otherwise notified [4] - ATMs will be available for cash withdrawals, and app and UPI services will function as usual [4] - The RBI's annual holiday calendar is established under the Negotiable Instruments Act, affecting transactions involving cheques and promissory notes during listed holidays [5]