This will add to customer choice and convenience for making secure digital payments to online/offline merchants and making instant money transfers to any bank account in India
Airtel Payments Bank has integrated the Unified Payments Interface (UPI) with its digital platform, becoming the first payments bank in India to do so.
This will add to customer choice and convenience for making secure digital payments to online/offline merchants and making instant money transfers to any bank account in India.
UPI-enabled payments and money transfers will add another dimension to Airtel Payments Bank, which has a vast network reach, particularly in deep rural pockets, and a wide merchant ecosystem that accepts digital payments from its customers, according to a company statement.
Shashi Arora, MD and CEO, Airtel Payments Bank said, "We are pleased to announce UPI integration with Airtel Payments Bank. This would allow all our 20 million bank customers to create their personalised UPI handles on the Airtel app, and enable them to make digital payments in both the offline and the online space. Our bank customers would also be able to link their bank accounts on Bhim (Bharat Interface for Money) app and make UPI payments."
Dilip Asbe, chief operating officer, National Payments Corporation of India (NPCI), said, "Payments banks are capable of facilitating remittances and payments to a large user base, especially to underserved areas as per RBI's vision. Through this association, we foresee significant rise in digital transactions at untapped merchant locations and person-to-person payments space."
For UPI-based payments and transfers, customers are not required to furnish their bank details to enable transactions and can create easy-to-remember IDs, ensuring optimal data security.
Customers can also use the bank section in the Airtel app to scan any UPI QR code for making merchant payments. Online and offline merchants can leverage the bank as a mode to accept payments seamlessly from their customers.
Airtel bank's customers can also link their savings accounts to any of their UPI handles on popular apps such as Bhim or UPI apps of other banks, the statement said.
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