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Soon, UPI will have verified merchant virtual addresses

The Unified Payments Interface will have verified merchant virtual payment addresses (VPA) and will have a tick mark next to them, similar to verified accounts on Twitter. "This solves a lot of  issues for banks. It will help them identify who is a merchant and whitelist them," Nikhil Kumar, head of developer ecosystem of IndiaStack and iSpirt fellow, said at the 50p payments conference. MediaNama has written to the National Payments Corporation of India (NPCI) for a confirmation and will update once we hear from them. Note that the UPI is a part of the IndiaStack along with the GSTN, Aadhaar Auth, eKYC, eSign, and DigiLocker. (Nikhil Pahwa adds: UPI is owned and operated by the NPCI, which is owned 100% by banks. Four banks - State Bank of India, Bank of Baroda, Axis Bank, and IDFC Bank are among those who fund…

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