Freecharge partners with Axis Bank, launches UPI payment

Posted on:14 Sep 2016 09:31:54

Freecharge partners with Axis Bank, launches UPI payment
14 September 2016 Current Affairs GK: 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.

Gk Current Affairs April 2017

24 APRIL
NEWS
22 APRIL
NEWS
21 APRIL
NEWS
20 APRIL
NEWS

Gk Current Affairs March 2017

31 MARCH
NEWS
30 MARCH
NEWS
29 MARCH
NEWS
28 MARCH
NEWS

Gk Current Affairs February 2017

28 FEBRUARY
NEWS
27 FEBRUARY
NEWS
25 FEBRUARY
NEWS
24 FEBRUARY
NEWS




Get Daily Current Affairs to your Email

You can Unsubscribe us at any time.

Get Daily Current Affairs to your Email

You can Unsubscribe us at any time.