Airtel Payments Bank has become the first payments bank in India to integrate Unified Payments Interface (UPI) on its digital platform. Airtel Payments Bank UPI offers its 25 million+ customers unprecedented speed and convenience in online payments and money transfers to any bank account or merchant in India.
If you are a bank app or mobile wallet user, here are 7 reasons why you should be considering upgrading to Airtel Payments Bank UPI right now:
1) Instant Transfers and Payments: Airtel Payments Bank UPI facilitates 24×7 money transfer via the My Airtel App. You can pay directly from any of your different bank accounts to any other bank account, without having to wait for hours while you register someone as a beneficiary.
2) Convenient: The Airtel Payments Bank UPI platform provides every user with a personalised Virtual Payment Address (VPA) or UPI ID to which you can link all your bank accounts. Courtesy VPA, you don’t need to provide bank details or share other sensitive information to send or receive money.
3) No More Silos: One of the biggest problems with mobile wallets is the closed payment environment. To transfer money, both you and the recipient must be on the same platform. UPI does away with this problem. You can transfer money via Airtel Payments Bank UPI to any payment app or bank account, belonging to online and offline merchants both.
4) Scan and Pay: For offline payments, Airtel Payments Bank UPI comes with the ‘scan and pay’ feature. You can scan the merchant’s QR code via My Airtel App and pay offline.
5) Transfer to small vendors: Further, it now becomes possible to transfer money even to the smallest vendors in the most remote areas of the country, whether they have a POS terminal or not. For the vendors, it cuts the cost of investing in POS terminals. It takes digital payments to every part of the country.
6) One app, many accounts: You can link and access multiple bank accounts via My Airtel App courtesy Airtel Payments Bank UPI, so you don’t need any other bank apps or mobile wallets cramming your phone’s memory!
7) Multiple functions: From your My Airtel App, Airtel Payments Bank UPI lets you send and receive money, and pay bills for grocery, mobile, internet, entertainment, insurance premium, online shopping and utilities.
The launch of Airtel Payments Bank UPI is a major step towards achieving Airtel Payments Bank the government’s scheme of a cashless economy. With its state-of-the-art features, Airtel Payments Bank UPI is set to forever change the way we pay.
Disclaimer: This is an article sponsored by Airtel and does not necessarily reflect the views of India Web Portal Pvt Ltd.