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UPI Payments

#Real-time banking

UPI (Unified Payments Interface) is a popular online payment method in India. It was developed by the National Payments Corporation of India (NPCI) and was launched in 2016. UPI […]

Certified payment providers 6
Market coverage 1
  • India
Currencies 1
  • India Rupee
Description

UPI (Unified Payments Interface) is a popular online payment method in India. It was developed by the National Payments Corporation of India (NPCI) and was launched in 2016.

UPI allows users to transfer money between bank accounts without having to enter the recipient bank’s details. Users can simply use their UPI address, which is a unique virtual identity that is linked to their bank account. UPI transactions can be carried out from the bank’s mobile application or a third-party application linked to UPI.

UPI also offers features such as payment requests, which allow users to request money from other users, and QR code payments, which allow users to scan a QR code to make a payment.

UPI is a convenient, fast, and secure payment method, and it has become extremely popular in India. It is widely accepted by merchants and service providers, and it continues to gain popularity as the preferred digital payment method of Indian consumers.

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Frequently Asked Questions

What are the best practices for managing cross-border payments?2023-04-18T18:56:57+02:00

NORBr is a payment orchestrator that connects you to all cross-border payment services providers that can help you manage your cross-border payments efficiently and securely, while also ensuring compliance with relevant regulations. NORBr offers advanced features like fraud detection, currency conversion, and real-time tracking and reporting, which can help you optimize your payment processing for cost efficiency and speed.

What are the risks associated with cross-border payments?2023-04-18T18:57:21+02:00

Cross-border payments can be associated with several risks for you, including currency fluctuation risk, regulatory risk, and fraud risk. Currency fluctuation risk refers to the potential impact of exchange rate fluctuations on the value of your payments. Regulatory risk relates to the complexity of complying with different regulations in different countries. Fraud risk refers to the potential for fraudulent activity, which can be more difficult to detect and prevent in cross-border transactions.

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