Online payment gateway solution, Razorpay has launched a Unified Payment Interface (UPI) for its merchants, which will enable customers to make online payments via UPI in addition to net banking, wallets, and credit/debit cards.
This will be the first large-scale rollout on the merchant side and does not require the addition of any code to start offering UPI payment options to their customers. All of Razorpay’s merchants will have access to receiving payments via UPI starting today, the company said in a statement.
UPI is a unique payment platform, which was recently launched by the Reserve Bank of India-backed National Payments Corporation of India (NPCI). It’s built to empower customers to initiate payment requests through their smartphone. It provides a Virtual Payment Address (VPA), through which users can send and receive money on a two-factor authentication.