Unified Payments Interface news and trends

Razorpay and Airtel Payments Bank Partner on UPI Infrastructure
Partnerships // April 24, 2024

Razorpay has launched its own Unified Payments Interface (UPI) infrastructure in partnership with Airtel Payments Bank. The new infrastructure, UPI Switch, boost success rates by 4% to 5%; handles up to 10,000 transactions per second at any given time; and enables five times faster access to UPI innovations for...

Paytm’s Troubles Drive Indian Customers to Walmart and Google
Digital Payments // March 06, 2024

Paytm’s regulatory troubles appear to have pushed Indian consumers to Walmart and Google-owned payments operations. Data released Wednesday (March 5) by the National Payments Council of India (NPCI) showed that the value of Paytm payments made using the country’s Unified Payments Interface (UPI) system fell 14% between January and February. Meanwhile, PhonePe, owned by...

Flipkart to Enable Transactions With India’s UPI Instant Payments System
Real-Time Payments // March 04, 2024

Indian eCommerce marketplace Flipkart has launched a Unified Payments Interface (UPI) handle to enhance its digital payment offerings by adding India’s popular instant payments system. The new Flipkart UPI allows users to set up their own UPI handle for transactions, both online and offline, and both within and outside...

Report: Paytm Turning to Banks to Process UPI Transactions
Banking // February 26, 2024

Embattled Indian FinTech Paytm is reportedly turning to a group of banks for help. The company is likely to work with Aix Bank, HDFC, Yes Bank and the State Bank of India to process transactions though India’s popular unified payments interface (UPI), Reuters reported Monday (Feb. 26), citing...

Quick Reads
India Expanding X-Border Payment Connections With Neighbors

November 20, 2024
India’s central bank says the country is making mobile payment links with several countries. Reserve Bank of India (RBI) Deputy Governor T Rabi Sankar discussed those connections while speaking to reporters Wednesday (Nov. 20) at a conference in the Philippines. “We have one arrangement with Sri Lanka. We are working out with other countries like [the […]

Razorpay and Airtel Payments Bank Partner on UPI Infrastructure

April 24, 2024
Razorpay has launched its own Unified Payments Interface (UPI) infrastructure in partnership with Airtel Payments Bank. The new infrastructure, UPI Switch, boost success rates by 4% to 5%; handles up to 10,000 transactions per...

Paytm’s Troubles Drive Indian Customers to Walmart and Google

March 06, 2024
Paytm’s regulatory troubles appear to have pushed Indian consumers to Walmart and Google-owned payments operations. Data released Wednesday (March 5) by the National Payments Council of India (NPCI) showed that the value of Paytm payments made...

Flipkart to Enable Transactions With India’s UPI Instant Payments System

March 04, 2024
Indian eCommerce marketplace Flipkart has launched a Unified Payments Interface (UPI) handle to enhance its digital payment offerings by adding India’s popular instant payments system. The new Flipkart UPI allows users to set up...