Airtel Payments Bank a public limited company and subsidiary of Bharti Airtel has announced integration of Unified Payments Interface (UPI) on its digital platform. The Airtel Payment bank which is the first entity to receive a payment bank license from RBI (Reserve Bank of India) also becomes the first payments bank to integrate UPI for online transactions.
With this integration, it will now let users to make secure digital payments to online or offline merchants and make quick transfer of money to any bank account in India. In order to enable UPI-based transactions or transfers, users are not required to provide bank details. They can create simple custom IDs to ensure ‘optimal data security’. User can use MyAirtel app (Bank section) to scan any UPI QR code for making merchant payments. Online and offline merchants can use Airtel Payments Bank as a payment mode to accept payments seamlessly from their customers. Further, consumers can link their Airtel Payments Bank savings accounts to any of their UPI handles on popular apps such as BHIM or UPI of other banks, a company statement cited.
Commenting on the launch, 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 20mn bank customers to create their personalised UPI handles on the Airtel app, and enable them to make digital payments in both the offline & the online space. Our bank customers would also be able to link their bank accounts on Bhim app and make UPI payments.”
“Payments banks are capable of facilitating remittances and payments to a large user base especially to underserved area as per RBI’s vision. We are happy to on-board Airtel Payments Bank on BHIM/UPI platform. Through this association, we foresee significant rise in digital transactions at untapped merchant locations and person-to-person payments space,” Dilip Asbe, Chief Operating Officer, National Payments Corporation of India (NPCI) said.
With IANS inputs