UPI – Unified Payment Interface

Unified Payments Interface is a new initiative of National Payments Corporation of India (NPCI) that aims to simplify and provide a single interface across all existing retail payment systems in India.

UPI will offer architecture and a set of standard APIs that will allow account holders across banks to send and receive money from their smartphones using just their Aadhaar unique identity number, mobile phone number or virtual payments address without necessarily entering bank account details. It is a layer that will allow interoperability by sitting atop the existing infrastructure (like Mobileware Switch) of banks.

UPI Key Benefits

  • Customers shall be able to transfer funds without revealing their personal details like mobile number/account number. It can be done by using Virtual Address.
  • Payment request can be generated in Web interface(desktop) and can be authorized in Mobile interface (App)
  • Easy & Convenient for the customer to authorize transaction  by  entering only PIN
  • Collect  request  can  be  initiated  to pull funds from the Payer, thus it has multiple utilities and applications and in many cases cash can be replaced. Cash  on  delivery  /  bill  split  sharing etc.

Mobileware’s UPI Switch – TransXT

UPI transaction flow_watermark

Mobileware’s Payment Transaction Switch enables our customer  banks  to  connect  with  interbank  transaction systems   thus helping   them   provide   the   facility   of immediate payments through mobile banking and other channels to their end customers.

Currently, banks on IMPS support transactions where a customer needs to enter multiple details as below:

  • Mobile number & MMID for P2P (Person to Person)
  • Account number & IFS Code for P2A (Person to Account)

However, enabling a bank on Unified Payment Interface using the Mobileware UPI Switch , a customer only needs to enter a simplified, user-friendly payment address.

Mobileware’s TransXT Modules

  • Customer Management
  • Virtual Private Address(VPA) Mapper
  • Beneficiary Management
  • Merchant Management
  • UPI Connect
  • HSM
  • API Handler
  • Settlement
  • Reporting
  • CBS Connect
  • Mobile Banking Integration
  • SMS/Email Integration