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Unified Payments Interface (UPI) is an Indian instant payment system as well as protocol developed by the National Payments Corporation of India (NPCI) in 2016. The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions.
PhonePe is an Indian digital payments and financial services company headquartered in Bengaluru, Karnataka, India. [5] [6] It was founded in December 2015, [7] [2] by Sameer Nigam, Rahul Chari and Burzin Engineer. [8]
National Payments Corporation of India (NPCI) is an Indian public sector company that operates retail payments and settlement systems in India. The organization is an initiative of the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust payment and settlement infrastructure in India.
Bangalore-headquartered Razorpay, one of a handful of Indian fintech startups that has demonstrated accelerated growth in recent years, has joined the coveted unicorn club after raising $100 ...
BHIM (Bharat Interface for Money) is an Indian state-owned mobile payment app developed by the National Payments Corporation of India (NPCI), based on the Unified Payments Interface (UPI). Launched on 30 December 2016, [ 1 ] it is intended to facilitate e-payments directly through banks and encourage cashless transactions.
The company further managed 50% and 30% of the total transaction volume generated on the Unified Payments Interface (UPI) and the Immediate Payment Service (IMPS) platforms respectively. [14] That same year, the company's electronic funds transfer (EFT) switch was the recipient of a BFSI Innovation Tribe Award from The Economic Times. [18]
Figure 1 shows that there is an exponential rise in the value of transactions made using UPI. Figure 2 shows the yearly trend in the number of UPI transactions. This increase in the use of UPI can be attributed to the ease with which UPI can be plugged in any consumer tech platform and help it add payment as a useful consumer-centric feature.
What is needed, she said, is many more programs like San Diego – and longer therapies that might enable her eventually to acknowledge what she called “the bad moral injuries that are really affecting me.” “We are still having suicides by people who don’t tell anyone why they are hurting inside,” she said. “We are still at war.”