UPI
Revolutionizing Peer-to-Peer and Merchant Payments in IndiaLaunched in 2016 by the National Payments Corporation of India (NPCI), UPI (Unified Payments Interface) is a real-time payment system that facilitates inter-bank transactions by instantly transferring funds between two bank accounts on a mobile platform. UPI has simplified peer-to-peer and merchant transactions, enabling users to send or receive money and pay for services using a unique UPI ID, mobile number, or scanning a QR code.
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Country
India
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Population
1.38 billion (as of 2021)
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Number of Internet users
Over 700 million
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Popular payment methods in India
UPI, Mobile Wallets, Debit/Credit Cards, Bank Transfers
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UPI
50%
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Mobile Wallets (like Paytm)
25%
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Debit/Credit Cards
15%
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Bank Transfers
7%
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Other
3%
- Type:Instant Payment System
- Currency:Indian Rupee (INR)
- % of coverage:60% of India's internet-using population
- Transactions to date:>10 billion (estimated for 2022)
- Total registered UPI IDs: >800 million (estimated)
- Refunds:Yes, depending on the transaction type and bank policies
- Chargebacks:Yes, subject to bank policies and transaction nature
Pricing request
Our fare pricing is designed to bring satisfaction to both sides of our partnership. The pricing structure is tailored to your specific business type and monthly turnover. Kindly send us a request, including details about your business, and our dedicated success manager will promptly get back to you with our best offer.