Google, Facebook, WhatsApp and Amazon to support UPI-based Payments

Technology giant Google has completed the testing of its Unified Payments Interface payment service

Managing Director and Chief Executive A.P. Hota, Google is in advanced talks with NPCI to integrate its digital payment service, Android Pay, with UPI. NPCI is the umbrella organisation for all retail payments system in India.

He also said that first, the Quite likely Google would come as their testing is larger or less complete... Google and apps such as WhatsApp and Facebook will have a pervasive presence in India. According to a PTI report, Google is awaiting Reserve Bank of India's approval to launch its service in the country. "Such a move can make a difference as these companies can bring in volumes", Hota told Mint.

Cashless transactions have been gaining pace in India, and UPI is an easy alternative to mobile wallet payments, plus more secure than card transactions.

Google announced the launch of Android Pay globally in March 2015. Essentially, it allows users to make contactless payments using their smartphone at selected retailers. Google Android Pay is similar to Apple Pay and Samsung Pay and could boost service If UPI is included in it. "They are talking actively to leading banks now", Hota said. The government launched BHIM app which transfers money between different bank accounts. Considering the fact that Android is a dominant operating system in India with the huge user base.

Hota, CEO and managing director of the National Payments Corporation of India (NPCI), told reporters at conference in Bengaluru on Monday that Google has nearly completed testing its UPI (Unified Payments Interface)-based payment service, which allows fast and easy transfer of money from one bank account to another through mobile.

"Apart from acquiring customers, we have also focussed on enabling our key merchant partners to accept UPI-based payments". Besides, Ola had already integrated UPI on its platform in April this year. He added that Amazon was currentl testing for the same, while Uber is still conducting the process.

"As a first step, we will look at offering our riders the option to use their existing UPI IDs to pay for their Uber rides", he added.

Amazon is discussing the launch of UPI with a few banks. Rival Flipkart has UPI-enabled mobile payments solution PhonePe in its kitty. WhatsApp, which has plans to foray into payments business, has been in talks with banks such as Axis Bank, ICICI Bank and Punjab National Bank, the report said. For all these tech giants, for getting the next millions and billions on their platform, India plays a major part.

"The nation has taken a target of achieving 25 billion digital payments transactions mark in 2017-18".

Overall digital transactions, which in many cases doubled after demonetisation, has corrected and is expected to attain a new normal of around 30-40% growth over transaction volumes past year. This year, "we are aiming to contribute about 11 billion digital transactions", he said.



Latest news

Nevada Regulators Will Consider Emergency Pot Distribution Rules
Since sale of recreational marijuana became legal to people aged 21 and older, business has been brisk. Nevada is the eighth U.S. state to fully legalise the sale and purchase of weed for recreational use.

Drinking Coffee Lowers Mortality Risk?
Eliseo Guallar, professor at the Johns Hopkins University Bloomberg School of Health, who co-authored an accompanying editorial . The people who consumed a cup of coffee a day were 12 percent less likely to die as compared to those who didn't drink coffee .

Western Canada wildfires may spread with more hot, dry weather
Evacuation orders and alerts were issued for more than 12 communities, many populated by Indigenous peoples. This includes at least five houses, 30 trailer park homes and two hangars at the regional airport.

Chelsea have made a move to sign £70million striker — Sky Sports confirms
United are still keen on doing business with Madrid and have a colleague of Morata's in mind . But, it would be better structured to suit the needs of Los Blancos.

Six Hindu pilgrims killed in IHK bus attack
Sonia Gandhi said that the attack was a crime against humanity and there should be probe into the lapses that led to it. In the backdrop of security situation in south Kashmir, the Amarnath Yatris were advised against travelling after 7 pm.

Trump Tweets False Comey Claim After Misleading 'Fox And Friends' Report
In May, Trump fired Comey over the poor handling of the investigation into the Hillary Clinton private server and email scandal. He said he believed the documents were his own personal recollections and contained little or no classified information.

Wimbledon: Muller sends Nadal home
He also fared better on his own serve, finishing with 23 aces, an unusually high total for Nadal and only seven fewer than Muller. The match, of course, was not yet over. "When I had the last two match points, I thought I just had to give it a shot".

Panama Probe Team Finds 'Glaring Disparities' in Nawaz Sharif's Family Income
Prime minister Nawaz Sharif and his family accused of illegally profiting from his position as PM during the 1990s. Capt (r) Muhammad Safdar Awan, the premier's son-in-law, has also been included in the names forwarded to NAB.

Interviews to select India coach on Monday
We were also told that the CAC and Kohli were on the "same page" when Kumble was chosen ahead of Shastri previous year . Ganguly added that Virat "needs to understand how the coach will operate". "That's the best way forward".

TI Slams Rob Kardashian Threesome Claim!
Bloom and her co-counsel Walter Mosley are slated to appear in a downtown courtroom Monday to request the appropriate restraining orders against Kardashian.

Donald Trump Jr., Jared Kushner Met with Kremlin-Linked Lawyer
The New York Times said Ms Veselnitskaya was known for her attempts to undermine sanctions against Russian human rights abusers. The gathering with Natalia Veselnitskaya at Trump Tower was reportedly arranged by Trump Jr in June previous year . "As Mr.

1 dead, 8 injured at gender reveal party in Ohio
Officials said three children are being treated at Cincinnati Children's Medical Center. The shooter or shooters fled the scene and have not been caught, police said.

Burhan Wani's martyrdom infused new spirit in Kashmir's freedom movement: PM Nawaz
So far more than 90,000 pilgrims have paid obeisance at the cave shrine located at an altitude of 3,888-metre in south Kashmir. Look the way they have imposed strict restrictions all around to prevent people from observing his death anniversary...

England vs South Africa 1st Test, Day 3
I've probably bowled a bit safe the past year or so, and today's the first day I went back to an attacking mindset. He also took the important wickets of Hashim Amla, Dean Elgar and Gary Balance when it was England's turn to bowl.

Alexis Sanchez informs Arsenal he wants to join Manchester City
Meanwhile, contract rebel Mesut Ozil has dropped a big hint he is staying by praising the signing of Lacazette. Sanchez hinted at a possible "exit" during the just concluded FIFA Confederations Cup in Russian Federation .

Other news