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NEW DELHI: When Prime Minister Narendra Modi<\/a> launched the Bhim app<\/a> last week, the common platform for the Unified Payment Interface<\/a> (UPI) was touted as the next big thing that would help widen the adoption of cashless transactions in the country.\n
Yet, the National Payments Corporation of India (NPCI), the agency that handles all retail payment systems in the country, is \"getting impatient\" with companies such as Flipkart<\/a>, Amazon<\/a>, Paytm<\/a> and Indian Railway Catering & Tourism Corporation for taking time to integrate with UPI, which forms the core of Bhim.
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\nThat’s because customers who have downloaded the app aren’t finding enough avenues to use it because merchants – especially online ones that are expected to generate the bulk of such payments – have been slow to warm up to the new system. AP Hota, managing director, said NPCI is \"not very happy\" with the 70,000 UPI transactions a day, the figure before the Bhim app was launched on December 30.
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\nUPI is a system that brings multiple banks on to a single mobile application, merging several banking features, seamless fund routing and merchant payments, according to the NPCI website.
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\nThe app was developed by NPCI and launched in August. \"Whenever we speak to them, they say that they are talking to the banks. I fail to understand…\" Hota told ET last week.
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\nHe said while companies have shown interest, they are still negotiating commercial terms with banks. To be sure, Hota said the Flipkart-owned payment app PhonePe is the largest user of UPI, although it is primarily used to top up the mobile wallet.
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\n\"Their main promoter Flipkart is not using it significantly,\" Hota said. The same is the case with Snapdeal-owned digital wallet Freecharge, which is the second-largest user of UPI and has opened it up only for top-ups. In the case of Paytm, money added to the account through UPI is minimal, he added.
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\n\"Some travel and ticketing sites have joined, but none of the top 15 merchants of UPI are the top merchants of the country yet,\" Hota said. The government has been encouraging a shift to cashless transactions after it demonetised Rs 500 and Rs 1,000 currency notes on November 9.
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\nThe value of UPI transactions surged to Rs 700 crore in December from Rs 90 crore in November as volumes increased more than six-fold to 2 million last month, according to provisional data on the RBI website. Still, UPI commands only a minuscule share of non-cash transactions by both volume and value.
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\nNPCI expects dealings through UPI to get a major boost once it is integrated as a payment option for ecommerce customers, along with net banking, card payment and cash on delivery. Ecommerce platforms offer a large potential in scaling up such transactions.
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\nFlipkart did transactions worth Rs 1,400 crore on a single day during its flagship ‘Big Billion Day’ sale in October. IRCTC, the state-run railway ticketing agency, sells about 6 lakh train tickets a day through its website.
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About 400 merchants had signed up for UPI as of last week. NPCI did not have updated data on transactions and merchants. Snapdeal<\/a> and Amazon did not comment. Sameer Nigam, cofounder of Flipkart’s PhonePe, said feature to pay through UPI on Flipkart is currently live for 5 per cent of customers and will likely be rolled out for the rest by next week.
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PhonePe’s Android<\/a> app had already integrated UPI when it was introduced and the iOS<\/a> version was launched two days ago, he said. Nigam added that the the system needs to stabilise. \n<\/body>","next_sibling":[{"msid":56357686,"title":"Ericsson and Cisco extend strategic partnership to include new Wi-Fi solutions","entity_type":"ARTICLE","link":"\/news\/ericsson-and-cisco-extend-strategic-partnership-to-include-new-wi-fi-solutions\/56357686","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":56366917,"entity_type":"ARTICLE","title":"Customers get Bhim App, but aren\u2019t finding avenues for use","synopsis":"UPI is a system that brings multiple banks on to a single mobile application, merging several banking features, seamless fund routing and merchant payments, according to the NPCI website.","titleseo":"telecomnews\/customers-get-bhim-app-but-arent-finding-avenues-for-use","status":"ACTIVE","authors":[{"author_name":"Surabhi Agarwal","author_link":"\/author\/479241991\/surabhi-agarwal","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479241991.cms?width=100&height=100&hid=268","author_additional":{"thumbsize":false,"msid":479241991,"author_name":"Surabhi Agarwal","author_seo_name":"surabhi-agarwal","designation":"Correspondent","agency":false}}],"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2017-01-06 08:20:52","lastupd":"2017-01-06 08:23:07","breadcrumbTags":["BHIM app","Narendra Modi","Amazon","android","IOS","Flipkart","SnapDeal","PayTM","Unified Payment Interface","MVAS\/Apps"],"secinfo":{"seolocation":"telecomnews\/customers-get-bhim-app-but-arent-finding-avenues-for-use"}}" data-authors="[" surabhi agarwal"]" data-category-name="" data-category_id="" data-date="2017-01-06" data-index="article_1">
新德里:当总理莫迪推出了Bhim应用上周,通用的平台统一的支付接口(UPI)被吹捧为下一个大事件,帮助扩大采用无现金交易。然而,印度的国家支付公司(NPCI),该机构,处理所有零售支付系统,与公司,如“失去耐心”Flipkart公司,亚马逊,Paytm和印度铁路餐饮和旅游公司花时间与UPI集成,形成Bhim的核心。
这是因为顾客下载应用程序没有发现足够的途径来使用它,因为商人——特别是网上那些预计将产生大量这样的支付——一直缓慢加热到新系统。美联社Hota董事总经理表示,NPCI是“不是很满意”与70000年UPI交易一天,之前的图Bhim应用于12月30日。
合众国际社是一个系统,会给你带来多个银行一个移动应用程序,合并几个银行特性,无缝基金路由和商人支付,根据NPCI网站。
这个应用程序是由NPCI, 8月份推出。“每当我们和他们说话,他们说,他们说的是银行。我无法理解…”Hota告诉上周等。
他说,虽然公司感兴趣,他们仍然与银行商业条款谈判。可以肯定的是,Hota说Flipkart-owned支付应用PhonePe UPI的最大用户,尽管它主要用于手机钱包。
“Flipkart公司主要发起人不是使用它值得注意的是,“Hota说。也是Snapdeal-owned数字钱包Freecharge一样,的第二大用户UPI只有充值,并打开它。Paytm而言,钱添加到账户通过UPI是最小的,他补充说。
“一些旅游和票务网站加入了,但是没有一个UPI的前15名商人是国家最高的商人,“Hota说。政府一直在鼓励转向无现金交易后demonetised Rs 500和Rs 1000钞票上11月9日。
UPI交易的价值飙升至12月700卢比从11月的90卢比随着交易量的增加6倍多,达到200万上个月,印度央行网站上初步数据显示。不过,UPI命令只有极小的份额的非现金交易数量和价值。
NPCI预计交易通过UPI获得重大推动一旦集成作为电子商务客户的支付选项,随着网上银行,信用卡支付和货到付款。电子商务平台提供了一个巨大的潜在扩大这类交易。
Flipkart公司做交易价值1400卢比一天在旗舰“大十亿天”在10月销售。IRCTC、国营铁路票务代理、销售约十万的火车票在其网站上的一天。
大约400商户签署了UPI上周。NPCI没有更新数据事务和商人。Snapdeal和亚马逊没有置评。Sameer尼噶,Flipkart公司创始人之一的PhonePe说,支付功能通过UPI Flipkart公司目前为5%的客户生活,可能会在下周推出了其余的。
PhonePe的安卓软件已经集成UPI和介绍了iOS版本推出两天前,他说。尼噶补充说,该系统需要稳定。
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