PayU India accelerates the launch of UPI to aid Indian merchants

India’s fastest growing digital payments solutions provider, PayU India, has been quick to respond to the recent demonetization of currency by the Indian Government. In order to stay ahead of the curve in providing the best services to its users, PayU India has partnered with NPCI, accelerating the launch of UPI for Indian merchants. The development will allow users to complete the entire transaction using their bank accounts.  There is no need to pre-load your money in your wallets. It allows payments to different merchants without the hassle of typing one’s card details or net-banking password.

Sharing his thoughts on the announcement, B. Amrish Rau, CEO of PayU India said,
“The Indian Economy is on the cusp of a digital revolution. PayU India had worked tirelessly over the last 5 years to deliver seamless, frictionless payments experience to the Indian consumers. While Wallets have done its bit, we feel strongly that the Indian consumer would like to directly use their bank account and hence have partnered with NPCI to deliver a smooth user check out experience on UPI. We intend to bring this experience to all our 30 Million consumers and 150,000 merchants.”

Commenting on this initiative, Dilip Asbe, COO, NPCI said, “UPI is the need of the hour and as a project, has enormous scope to push for Digital India. We are glad to have PayU India come on-board and support UPI with both of its platforms. Given PayU’s massive reach across ecommerce platforms, merchants and users, we are affirmative to start serving our users immediately.”

As of yet, PayU India covers nearly 60% of the entire ecommerce transactions in India. Every customer of these e-commerce platforms will have the UPI provision of completing the entire transaction straight out of their bank account.