Digital wallet application MobiKwik
has launched Unified Payments Interface on its platform
through its own virtual payment handle @ikwik.
The app will also open up UPI payments to its existing merchant base of three million. The app will also offer payments via BharatQR, UPI QR and intent functionality for merchants.
The company is also offering its customers to create their VPAs through their mobile numbers and link multiple bank accounts through the VPA.
“With the rollout of UPI, we expect a reduction in the usage of debit cards and internet banking on the MobiKwik app, as UPI will offer a better user experience, we hope to substantially increase momentum of merchant transactions on UPI and will be adding more payment options for the benefit of our users in the times to come,” said Bipin Preet Singh, chief executive officer, MobiKwik.
Utilising the UPI platform the company is also planning to take transactions down the route of interoperability across wallets and virtual cards. It will even empower its consumers to push the bank to bank direct fund transfers using UPI.
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