Unblock PhonePe’s UPI transactions: NCPI to ICICI

Banks, including YES Bank, advised to adhere to the merchant on-boarding guidelines

GN Bureau | January 20, 2017


#YES bank   #Flipkart   #PhonePe   #NCPI   #ICICI   #unified payments interface   #UPI  
PhonePe logo
PhonePe logo

National Payments Corporation of India (NPCI) has asked ICICI bank to open Unified Payments Interface (UPI) transactions for PhonePe app.
 
“Based on a review by NPCI on ICICI Banks’s action to block UPI transactions made through PhonePe app, we would like to state that ICICI Bank has been advised to open UPI transactions immediately. We had a discussion with ICICI Bank and YES Bank – the banker to PhonePe to review the matter and arrived at this,” said a statement from NPCI which is an umbrella organisation for all retail payments system in India.
 
“We have also advised banks including YES Bank to adhere to the merchant on-boarding guidelines meticulously from the angle of interoperability of merchant App so that such disputes are avoided,” it added.
 
PhonePe – a  Flipkart group company – has introduced a way of making mobile payments in India which works over the UPI platform developed by the NPCI and is powered by YES Bank.
 
 
 
 

Comments

 

Other News

Sci-Tech Empowered Committee set up for COVID-19

To take speedy decisions on research and development for Sars-Cov-2 virus and COVID-19, the government has constituted a Science and Technology Empowered Committee. The committee, set up on March 19 and chaired by Niti Aayog member, professor Vinod Paul and professor K Vijay Raghavan, princi

Covid-19 and real estate: This could be last straw that broke camel’s back

Covid-19 may turn out to be the last straw that broke the camel’s back so far as the real estate sector is concerned. It broke out at a time when pundits were estimating the GDP to be hovering around 2.5% with unprecedent levels of unemployment. This itself was a good indicator that the real estate s

India ramps efforts as COVID-19 cases rise

As COVID -19 cases continue to rise amid a 21-day lockdown, the centre and the states are proactively taking measures to provide aid to the underprivileged and the needy during this unprecedented situation.         By Sunday morning, India had registered 27

Diplomacy in the time of Covid-19

In the thick of battle with the deadly coronavirus, India on March announced a 21-day lockdown till April 14 in its bid to control the spread of virus which has so far led to 10 people’s death and over 600 others falling sick across the country. As per experts, India, which is in the second stage of

Life hacks for Lockdown blues

As the nation battles the Coronavirus outbreak, a billion-plus population is confined at home in the 21-day lockdown, and this is leading to mental health concerns. “It is a tough time and we need to be stable to get thorough. People must rationalise their irrational thoughts without

Doctors, others continue to face vigilantism

Scare following the outbreak of Covid-19 has led some people to turn to vigilantism, harassing people at the frontline of fighting the disease and keeping the country running amid the lockdown. Earlier this week, the medical associations had made representations before home minister Amit Sha



Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter