Payments application Chillr has launched Unified Payments Interface (UPI) payments from HDFC Bank. The addition of the UPI for Chillr was a natural extension. It started as a multi-bank payment app running on the IMPS platform and had 11 banks which could carry out outgoing transactions, while customers of other banks could only receive money. Remember, the UPI was built on the existing IMPS infrastructure and Chillr had demonstrated many of the functionalities of the UPI - like linking a mobile number on contacts list to a bank account, sending money out, collect requests etc. Now with the UPI integration from HDFC Bank, Chillr will be allowed to link bank accounts from 44 banks which are on the payments platform. The payments app said that it is looking to increase its customer base three fold and is conducting monthly transaction value of over Rs 500 crore. Note that the UPI is available on HDFC Bank's mobile banking app. It is yet to roll out the UPI on its PayZapp wallet. In contrast rival ICICI Bank has rolled out the UPI on four mobile applications - Pockets (wallet app), iMobile (banking app), EazyPay (for merchants), and Mera iMobile (UPI app in 11 languages). Meanwhile, YES Bank said that it is building an ecosystem of 50 UPI apps last year. Mass Pay: Note that in August 2016, Chillr launched a product called Mass Pay which allowed corporate customer to push out payments to multiple vendors and disbursements. The product had different use cases compared to P2P payments and can be…
