UPI Solution (MOBILE PAYMENTS)

UPI (Unified Payment Interface) solution provides a payments architecture that is directly linked to achieving the RBI goals of universal electronic payments, a less cash society, and financial inclusion, using the latest technology trends and standard APIs to facilitate the next generation online immediate payments leveraging increasing Smartphone adoption and universal access to Internet and data.

Challenge

To offer an architecture and a set of standard APIs to facilitate the next generation online immediate payments leveraging trends such as increasing smartphone adoption, Indian language interfaces, and universal access to Internet and data.

  • To propel easy instant payments via mobile, web, and other applications.
  • Support the growth of e-commerce, while simultaneously meeting the target of financial inclusion
  • Use of Aadhaar & Digital Identity and NPCI and Payment Backbone in one seamless solution

Solution

  • Full compliance with UPI API and REQPAY, RESPPAY, REQAUTHDETAILS and RESPAUTHDETAILS messages
  • Support Individual 2 Individual, Individual 2 Business and Business 2 Business payments

The Unified Payment Interface is expected to further propel easy instant payments via mobile, web, and other applications.

Benefits

  • Paying and receiving payments as easy as swiping a phone book entry
  • Ability to send and receive money from mobile phones with just an identifier
  • Take advantage of enhancements in mobile devices, provide integrated payments on new consumer devices
  • Allow half a billion phones to be the primary payment device in conjunction with other 3rd party authentication
  • Uses all existing RBI approved payment systems, i.e. AEPS, APBS, IMPS, NEFT, NACH,NFS & RTGS as payment backbone with support of NPCI
  • Allows for traceability through the entire transaction chain

Features

  • Ability to use mobile as the primary device for all payments
  • Ability to pre-authorize multiple recurring payments similar to ECS
  • Ability that allows paying from any account using any number of virtual addresses using credentials such as PINs, or biometrics
  • Ability to use a fully interoperable system across all payment system players without having silos and closed systems

Agency Compliance

National Payments Corporation of India (NPCI)
http://www.npci.org.in/

The Unified Payment Interface is expected to further propel easy instant payments via mobile, web, and other applications.

1) What is the objective of Unified Payment Interface?

Objectives of a unified system is to offer an architecture and a set of standard APIs to facilitate the next generation online immediate payments leveraging trends such as increasing smartphone adoption, Indian language interfaces, and universal access to Internet and data

2) Which are the key core features of Unified Payment Interface?

  • Ability to use personal mobile as the primary device for all payments including person to person, person to entity, and entity to person
  • Ability to use personal mobile to “pay” someone (push) as well as ” collect” from someone (pull).
  • Ability to use Aadhaar number, mobile number, card number, and account number in a unified way. In addition, ability to pay and collect using ” virtual payment addresses ” that are “aliases” to accounts that may be payee/amount/time limited providing further security features.
  • Make payments only by providing an address with others without having ever provide account details or credentials on 3rd party applications or websites.
  • Ability to make payments using 1-click 2-factor authentication all using just a personal phone without having any acquiring devices or having any physical tokens
  • Ability for all payment system players to use a standard set of APIs for any-to-any push and pull payments.
  • Ability to pre-authorize multiple recurring payments similar to ECS (utilities, school fees, subscriptions, etc.) with a one-time secure authentication and rule based access

3) What is Payment System Player (PSP)?

Bank, Payment Bank, PPI, or any other RBI regulated entity that is allowed to acquire customers and provide payment (credit/debit) services to individuals or entities

4) What is Virtual Payment addresses?

Virtual addresses offered by the provider need not be of permanent nature. For example, a provider may offer “one time use” addresses or “amount/time limited” addresses to customers. In addition, innovative usage of virtual addresses such as “limit to specific payees” (e.g., a virtual address that is whitelisted only for transactions from IRCTC) can help increase security without sacrificing convenience. PSPs can allow their customers to create any number of virtual payment addresses and allow attaching various authorization rules to them.