What is UPI?
Just like Credit and Debit cards, UPI (Unified Payments Interface) is another payment option. It abstracts your bank account details in the form of a VPA. Now instead of sharing complex account details, the user can just share the VPA to receive/send money. And all of this is realtime!
What is VPA?
VPA is a Virtual Payment Address like your email (eg. payu@bankname). A VPA can be linked to any bank’s account.
Can I leverage UPI across platforms?
Yes, this solution can work across web and mobile and web-view inside a mobile app. It is also supported on PayU’s existing Android SDK.
How do I create a VPA?
VPA can be created from a UPI enabled bank mobile application or third party application.
Can users create a new VPA handle in transaction flow ?
No. The current UPI flow doesn't allow a user to create a new handle. However, this is possible via PayU's dedicated UPI SDK. This is under development. Know more.
How does UPI work for your customers?
Key features
Real time settlements
- Receive real-time settlement for P2P (Person to Person) flow and T+1 settlement for P2M (Person to Merchant) flow.
- Real time settlement model will directly settle customer’s money in your account. PayU charges a small service fee for this.
No additional integration required
- Merchants with PayU hosted Checkout can go live by simply enabling a flag. No additional intergration required.
- Merchants with non-PayU hosted checkout will need to send an extra VPA parameter in transaction request.
Best success rates
- All calls are server to server and no redirects, hence best success rates.
Secure transactions
- RBI approved single click and 2 factor authentication.
- Customer’s mobile is the First factor and M-Pin is Second factor authentication.
- M-Pin is Mobile PIN which is created while linking a bank account with a VPA handle.
Get Started Now!
and start receiving payments now!