Unified Payments Interface to go live for 21 banks’ customers
Chennai: , Aug 25 (IANS) The National Payments Corporation of India (NPCI) on Thursday said the Unified Payments Interface (UPI) will go live for customers of 21 banks.
The relevant details of the service would be available on the website of 21 banks, the NPCI said.
According to NPCI, the UPI application of 19 banks can be downloaded from Google Play Store in next two to three working days.
The list of banks providing the app on Google Play Store are: Andhra Bank, Axis Bank, Bank of Maharashtra, Bhartiya Mahila Bank, Canara Bank, Catholic Syrian Bank, DCB Bank, Federal Bank, ICICI Bank, TJSB Sahakari Bank, Oriental Bank of Commerce, Karnataka Bank, UCO Bank, Union Bank of India, United Bank of India, Punjab National Bank, South Indian Bank, Vijaya Bank and YES Bank.
According to NPCI, two banks — IDBI Bank and RBL Bank — are on-boarded as issues. The customers of the two banks can download any UPI enabled apps and link their account.
“This is a success of enormous significance. Real-time sending and receiving money through a mobile application at such a scale on interoperable basis had not been attempted anywhere else in the world. Now the UPI App will be made available on Google Play Store by banks,” NCPI MD and CEO A.P. Hota was quoted as saying in the statement.
Reacting to the development, Vivek Belgavi, Leader – FinTech, PwC India, said: “UPI is an unique world-class platform aimed at removing friction faced by customers during merchant payments through set up of an interoperable platform and an important step in India’s journey of reducing cash and improving inclusion.”