One97 Communications Limited, the parent company of Paytm, has launched Paytm UPI SDK, a new feature designed to streamline UPI payments for online merchants’ customers. This development allows users to make UPI payments directly from the merchant’s mobile app, eliminating redirection during the checkout process.
What Happened? Customers can now pay directly from their bank accounts by inputting their UPI PIN, all without leaving the merchant’s application, states Paytm in a press release.
The feature further empowers online businesses to provide their customers with the ability to check their account balance, create VPA handles, add more UPI-linked accounts, and set or reset their UPI PIN in real time within the app.
This UPI SDK forms part of the existing UPI acquiring arrangement between Paytm Payments Services Ltd. and Paytm Payments Bank. Under this arrangement, Paytm Payments Services Ltd provides a UPI acquisition service to merchants, with the UPI SDK being an additional feature.
Nakul Jain, CEO of Paytm Payments Services, expressed that with UPI being one of the most accepted payment methods, it was crucial to streamline the online payments flow for businesses.
Get all the latest Share Market trends and news to set you up for the week ahead.
He pointed out that the new Paytm UPI SDK would enable businesses to accept payments directly on their app, thereby improving transaction success rates and ensuring users enjoy a seamless payment experience.
Must Read: What is Ola Share Price And How To Buy
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.