wordpress blog stats
Connect with us

Hi, what are you looking for?

, , ,

Bharti Airtel ties up with Razorpay for UPI payments on its platform

Payments company Razorpay has partnered with Bharti Airtel to enable users to make online payments through UPI (Unified Payment Interface) on Airtel’s website and mobile application.

Through UPI transactions, Razorpay said that users will not be needed to type card details or netbanking/ digital wallet credentials, hence the payment process will become easier. Razorpay said in a statement that it is expecting five million transactions per month via Airtel’s site and MyAirtel app with this partnership.

Razorpay currently handles online payments for about one lakh businesses, including GoIbibo, Yatra, Zomato, IRCTC, Zoho, DSP Blackrock, Zerodha among others. The company aims to increase its merchant count to two lakh by the end of 2018 and impact 500 million end-consumers by 2020, it said in a release.

Last month, it launched an upgraded version of its service ‘Payment Links’ and prior to that the company partnered with the Indian Railway Catering and Tourism Corporation (IRCTC) to help customers book train and flight tickets through UPI, in addition to other payment modes

On a related note, it is worth noting that although UPI saw an increase of 30% in the total transaction volumes between May 2017 and June 2018,  the number of transactions declined for the first time in May 2018. Going forward, UPI numbers may fall again given that the government has withdrawn multiple incentives for both merchants and customers alike for making transactions using UPI transactions. Further, the National Payments Corporation of India (NPCI) has asked banks to discontinue Aadhaar-based payments through the UPI and Immediate Payment System (IMPS) channels from August 31st, 2018. That could also have a negative impact on the number of UPI transaction in the coming months.

Advertisement. Scroll to continue reading.

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Due to the scale of regulatory and technical challenges, transparency reporting under the IT Rules has gotten off to a rocky start.

News

Here are possible reasons why Indians are not generating significant IAP revenues despite our download share crossing 30%.

News

This article addresses the legal and practical ambiguities in understanding the complex crypto ecosystem in India.

News

It is widely argued that the PDP Bill report seeks to discard the intermediary status of social media platforms but that may not be...

News

Looking at the definition of health data, it is difficult to verify whether health IDs are covered by the Bill.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ