Airtel Payments Bank has said that it has started Unified Payments Interface (UPI) based system with its digital platform, enabling its customers for making secure digital payments to online/offline merchants and making instant money transfers to any bank account in India.
Shashi Arora, MD, and CEO, Airtel Payments Bank said, " This would allow all our 20mn bank customers to create their personalized 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 to Bhim app and make UPI payments."
UPI enabled payments and money transfers will add another dimension to Airtel Payments Bank, which has a vast network reach, particularly in deep rural pockets, and a wide merchant ecosystem that accepts digital payments from its customers, the company said.
Dilip Asbe, Chief Operating Officer, National Payments Corporation of India (NPCI) said, "Payments banks are capable of facilitating remittances and payments to a large user base especially to an 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 the significant rise in digital transactions at untapped merchant locations and person-to-person payments space."
For UPI based payments and transfers, customers are not required to furnish their bank details to enable transactions and can create easy to remember IDs, ensuring optimal data security.
Customers can also use MyAirtel app (Bank section) to scan any UPI QR code for making merchant payments. Online and offline merchants can leverage Airtel Payments Bank as a payment mode to accept payments seamlessly from their customers, Airtel further said.
How to create Airtel Payments Bank UPI handle:
· First customers need to update their My Airtel App
· Select UPI from the 'Bank' section
· Create personalized handle name
Customers can also link their Airtel Payments Bank savings accounts to any of their UPI handles on popular apps such as BHIM or UPI apps of other banks.
This can be done by selecting Airtel Payments Bank from the link or change account section and select airtel payments bank from the listpost which customer details will be linked to the UPI handle automatically.