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Online Payments

Uber and Amazon to join India UPI

Tuesday 11 July 2017 | 11:09 AM CET

Amazon and Uber have announced that they will join the Unified Payment Interface (UPI).

The cab-booking company is expected to go live on UPI through integration with the BHIM app. Since many drivers are still paid in cash, the integration will allow Uber drivers make their payments to the company through the government-backed payments application.

Amazon will also join the UPI network and is currently in talks with several banks. Company representatives said that the ecommerce retailer will not develop its own app, but instead use a pay button for UPI on its portal.

Besides Uber and Amazon, Google is also set to launch its payments services on the UPI.

The National Payments Corporation of India (NPCI) will introduce multi-bank utility to UPI, stating concerns that the current network will not be able to process high volumes of transactions as expected after these global companies join the platform.

More: Link
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