The National Payments Corporation of India (NPCI) yesterday launched the ambitious Unified Payments Interface (UPI), a payments architecture which will allow users to transfer money across different banks with the use of a single identification and password. So far, there are 29 banks which have signed on to the platform and many more wallet services and non-bank institutions are yet to integrate their services to the UPI. Here are some of the reactions for the new payments interface: Naveen Surya, chairman of Payment Council of India and MD of ItzCash We are very excited and thrilled with the possibilities of envisioning a simplified and frictionless payments infrastructure with the launch of UPI. All our non-bank members await directions from RBI and NPCI to get ready access and we can surely deliver high digital payments growth as in case of IMPS transactions. Within…
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