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Freecharge partners with Axis Bank, launches UPI payment

Freecharge partners with Axis Bank, launches UPI payment
14 September 2016 Current Affairs: Digital payment platform FreeCharge in partnership with Axis Bank on Monday launched Unified Payments Interface (UPI) that allows instant transactions from a smartphone using a virtual payment address (VPA).

Customers will be able to create a virtual address on the Freecharge Android app and link it to their bank account to register on the UPI platform.

The partnership allows Freecharge users to pay for transactions from their bank accounts and they don't have to be existing customers of Axis Bank.Customers can create multiple handles/VPA linked to their bank accounts.

When the customer makes the payment using their handle or Axis Bank's VPA, they will be transferring money from their bank account to the merchant or beneficiary account without exposing details such as account number, IFSC code, etc.

UPI eliminates the need for merchants to be PCI-DSS certified to store customers' payment credentials as the VPA can be stored against the customers' login.

UPI is only available on the new version of Freecharge's Android app.


December 2016 Current affairs
9 DEC
NEWS
8 DEC
NEWS
7 DEC
NEWS
6 DEC
NEWS
5 DEC
NEWS
3 DEC
NEWS

November 2016 Current affairs
30 NOV
NEWS
29 NOV
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28 NOV
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26 NOV
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25 NOV
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24 NOV
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October 2016 Current affairs
31 OCT
NEWS
27 OCT
NEWS
26 OCT
NEWS
25 OCT
NEWS
24 OCT
NEWS
22 OCT
NEWS

September 2016 Current affairs
30 SEP
NEWS
29 SEP
NEWS
28 SEP
NEWS
27 SEP
NEWS
26 SEP
NEWS
24 SEP
NEWS

August 2016 Current affairs
31 AUG
NEWS
30 AUG
NEWS
29 AUG
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27 AUG
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26 AUG
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