UPI-enabled payments will add another dimension to Airtel Payments Bank, the company said
Bharti Airtel, India’s largest telecom operator, has integrated its payments bank with Unified Payments Interface (UPI) on its digital platform. Claiming to be the first payments bank in the country to offer this feature, Bharti Airtel said this will add to customer choice and convenience for making secure digital payments to online and offline merchants, and instant money transfers to any bank account in India. Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing and merchant payments into one hood.
"This would allow all our 20 million bank customers to create their personalised UPI handles on the Airtel app, and enable them to make digital payments in both the offline and the online space. Our bank customers would also be able to link their bank accounts on BHIM app and make UPI payments," said Shashi Arora, managing director and chief executive officer, Airtel Payments Bank.
UPI-enabled payments and money transfers will add another dimension to Airtel Payments Bank, the company said in a press release dated September 17.
National Payments Corporation of India (NPCI) chief operating officer Dilip Asbe said, “Payments banks are capable of facilitating remittances and payments to a large user base especially to 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 significant rise in digital transactions at untapped merchant locations and person-to-person payments space," Mr Asbe of NPCI further said.
NPCI is a not-for-profit organisation for all retail payment systems in India, which aims to allow all Indian citizens to have unrestricted access to e-payment services. The organisation is owned by a consortium of major banks.
How can customers create their Airtel Payments Bank UPI handle:
- Customers need to update their My Airtel App
- Select UPI from the ‘Bank’ section
- Create personalized handle name (E.g.: mobile no@airtel). Default will the customer’s mobile number
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.