Airtel Payments Bank has now enabled open loop BHIM UPI based payments at over 500,000 merchant points across India, allowing consumers to make digital payments for good and services by using any BHIM UPI enabled bank or via payments app over their mobile phones.
Airtel Payments Bank’s payments solution for merchants allows consumers to make instant cashless payments from their mobile phones, directly through their savings bank accounts by just scanning a merchant QR code through their preferred BHIM UPI enabled application. Airtel Payments Bank users can also use this QR to pay directly through their Savings Bank account or wallets using the Airtel Thanks app.
This means that subscribers would no longer be required to go through the hassles of downloading and maintaining numerous payment apps. Making digital payments seamless as well as secure, Airtel Payments Bank powered BHIM UPI payments would enable customers to pay anywhere, anytime through a single interface.
Airtel Payments Bank powered BHIM UPI based payments are also beneficial for the merchants since they can now easily receive payments directly into their bank account, reducing the risk of cash management for them. Further, instead of cluttering the counter with multiple modes of payment acceptance, the merchant can now have a single QR code at their shop, making it convenient for them as well as the consumers. Even at the back end, the merchants now only need to manage a single application over having to manage multiple vendor applications.
Airtel Payments bank merchants are a mix of small merchants as well as Large Format Retail outlets and covers consumer categories such as food, lifestyle, electronics and more. Airtel Payments Bank plans to significantly ramp up its offline merchant base and plans to power at least one million offline merchants with its payment solution over the coming months.
"We are delighted to partner with NPCI to bring BHIM UPI powered payment solutions at millions of merchants across India, enabling seamless and secure digital payments. This is an important step towards our aim of creating a ubiquitous digital payments ecosystem for all consumers.” stated Anubrata Biswas, MD & CEO – Airtel Payments Bank.
“We are happy to collaborate with Airtel Payments Bank for BHIM UPI based payment solutions as it brings us closer to our mission of covering every citizen of the country through one or the other mode of digital payments. We believe that there is already a significant shift to a mobile-first strategy with consumers using functionality rich and user-friendly apps for P2P (peer-to-peer) or P2M (peer-to-merchant) payments, added Dilip Ashbe who is Managing Director and Chief Executive Officer (CEO) at NPCI.