Airtel Payments Bank, one of the emerging e-wallet platforms, has enabled its 25 million customers to create their personalized Unified Payment Interface (UPI) on My Airtel App.
Just as you create an email id, you can create your UPI handle through My Airtel App.
With this development, Airtel Payments Bank has become the first payments bank in India to integrate UPI system on its digital platform.
Airtel Payments Bank allows customers to open savings bank account. You can use this account to transfer money, recharge phone, pay utilities and bills and buy movie tickets through your mobile phone.
In a statement sent to Cafemutual, Shashi Arora, MD and CEO, Airtel Payments Bank said, “Airtel payments bank is integrated with Unified Payment Interface to enable digital payments, this would allow all 25 million bank customers to create their personalized UPI handles on the My Airtel App and enable them to make digital payments in both offline and online spaces.”
UPI is a next generation payment system pioneered by National Payment Corporation of India (NPCI) that allows account holders across banks to make payments using their VPA (Virtual Payment Address). Simply put, the customers will no longer require furnishing bank details to execute transactions.
The move will help Airtel Payments Bank customers to execute digital transactions free of cost. This will help people to go to recharge outlets and open their savings accounts and UPI easily in offline mode.
