With long-term goals planned, Airtel takes yet another step to expand its telecom network by launching UPI (Unified Payments Interface) which is based on the digital platform provided by the Airtel itself. This service enables the users to transfer money to any bank account without paying the transaction charges.
This Integration has made Airtel Payments Bank the first payments bank to amalgamate UPI systems on its digital platform.
Shashi Arora, Airtel Payments Bank MD and CEO, gave statement about this merger, “We are pleased to announce UPI integration with Airtel Payments Bank. This would allow all our 20 million bank customers to create their personalized UPI handle on the Airtel app, and enable them to make digital payments both the offline and the online space. Our bank customers would also be able to link their bank account son BHIM app and make UPI payments.
Now the customers are not charged any sort of transaction fees on transferring money using UPI system or BHIM application. Earlier, since there was no UPI, Airtel Payments Bank subscribers were charged transaction amount counting to decimals.
NPCI (National Chief Operating Officer) Dilip Asbe said,” We are happy to on-board Airtel Payments Bank in BHIM/UPI platform. Through this association, we foresee significant rise in digital transactions at untapped merchant locations and person-to-person payments space.”
Another point to be noted is that, customers need not to present their bank details to enable transactions and can easily create identity like e-mail id which is more convenient. The UPI system will also allow the transfer of money to merchants by the use of scanning any UPI QR code.