HSBC rolls out Unified Payments Interface for Indian corporates
The solution enables corporates to make and receive payments digitally leveraging the UPI platform managed by National Payments Corporation of India.
The solution enables corporates to make and receive payments digitally leveraging the UPI platform managed by National Payments Corporation of India.
HSBC India is rolling-out its Unified Payments Interface (UPI) solution for corporates in India. The solution enables companies to make and receive payments digitally leveraging the UPI platform, which launched last August and is managed by National Payments Corporation of India (NPCI) as part of the Reserve Bank of India’s (RBI) strategy to migrate towards a ‘less-cash’ society.
The UPI solution enables corporate customers to efficiently collect payments made by their consumers using mobile devices, reducing dependence on cash and providing consumers with a more convenient way of making payments. It also enables faster realisation of funds and reduces the cost of cash-in-transit for corporates. Key sectors expected to take advantage of the mobile collections functionality include e-commerce, retail, insurance, telecoms, utilities and others with recurring receivable payments.
Comments are closed.