UPI (Unified Payments Interface) application is a payment system that allows one to transfer money between any two parties. UPI Application allows customer to instantly transfer money to someone else using, without having to know their bank account number or IFSC code. UPI makes payments possible only by providing an address with others without having ever provided account details or credentials on 3rd party applications or websites. This leads to a significantly smoother payment experience. Some examples of these include in-app payments – where the merchant app, may send the request to the PSP app on the same device, instead of a collect request via the PSP network. Another example may be for proximity payments, where the payer and payee are using different devices, but are close enough for the information to be transferred locally. The UPI is a cost effective, secure, reliable, mobile-first, interoperable, open-source, instantaneous settlement and both pull and push platform. Moreover, while pre-paid wallets can’t do more than Rs.10,000 worth of transactions without KYC (know your customer) norms in a given month, a UPI-enabled platform bank account can transfer up to Rs.1 lakh instantaneously.

  • UPI enables to make payments using mobile phone as the primary device for payments including P-to-P, P-to-B, and B-to-P with the ability to “pay” someone as well as ‘collect’ cash from someone.
  • UPI platform also allows the use of Aadhaar number (UIDAI), mobile number and account number in a unified way, while not giving it away during the payment process.
  • UPI also allows multiple recurring payments similar to electronic cash payments (viz. utilities, school fees, subscriptions, etc.) with a one-time secure authentication and rule based access.
  • UPI makes the system fully interoperable across all payment system players without having silos and closed systems, making transaction from any bank.

Key features of the C-Edge UPI solution

  • Customer on boarding
  • List Accounts
  • MPIN generation
  • List Account Providers
  • List Keys
  • Mobile Registration
  • Beneficiary Address validation
  • Request OTP