Airtel Payments Bank today said that it has 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 payments app.
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 app. Airtel Payments Bank users can also use this QR to pay directly through their savings bank account or wallets using the Airtel Thanks app.
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 consumers. Even at the back end, the merchants now only need to manage a single application over having to manage the applications of multiple vendors.
Anubrata Biswas, MD & CEO, Airtel Payments Bank said, “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.”
Dilip Ashbe, MD & CEO, NPCI said, “Our partnership with Airtel Payments Bank has currently enabled over half a million offline merchants to receive payments through UPI QR Code. This will help consumers to make instant and hassle free transactions digitally thereby adding to seamless customer experience.”