Launched by National Payments Corporation of India (NPCI), UPI employs standard application programming interfaces (APIs) that provide an interoperable system for transfers on top of the Immediate Payment Service (IMPS) platform. UPI payments are now used by ecommerce players across India as they look to add more users through a completely seamless payment mechanism.
In recent news, Jet Airways has partnered Uber to offer travel solutions from doorstep to doorstep. Also, Ola, a taxi aggregator, has integrated with UPI to simplify digital payment options for millions of customers.
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