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The storied salt-to-steel conglomerate is seeking clearance from National Payments Corporation of India (NPCI) to start operating on the Unified Payments Interface (UPI) as a third-party payments service provider offering digital payments services, people briefed on the matter told ET.
This is part of Tata Group<\/a>’s wider plans to have a meaningful presence in the internet economy. The Tata Group, through its digital commerce unit Tata Digital, is in talks with private lender ICICI Bank to power its UPI infrastructure, sources aware of the matter said. It has also held discussions with another leading private sector lender as an additional banking partner, sources aware of the matter told ET.
Non-banking platforms such as Phone<\/b>Pe and Google Pay have to partner with banks to get access to UPI railroads. Owing to the technology-focused approach to serve consumers better, non-banking apps have fared better on UPI, cornering most of the market share. For instance, PhonePe and GooglePay have the lion's share of UPI transactions each month while Amazon Pay, Paytm and Facebook-owned WhatsApp Pay<\/a> are the other prominent apps.
UPI apps, especially when they are dealing with large transaction volumes, opt to work with multiple banks to share the load. For instance, GooglePay offers UPI through State Bank of India, HDFC Bank and ICICI Bank.
“The Tatas have applied to the NPCI to operate as TPAP (Third Party Application Providers) and are hoping it can go live next month,” a person aware of the matter said.
This comes when Tatt Digital has also finalised plans to launch its much-awaited Superapp Tata Neu next month<\/a>, coinciding its launch with the Indian Premier League (IPL), ET reported on March 15. “They (Tata group) want to have this ready by the time Tata Neu is launched so more UPI payments can be enabled across the superapp with ease,” one of the people mentioned above said.
In February, UPI saw 4.52 billion transactions in total, as per data from NPCI.
Emails sent to Tata Digital and ICICI Bank didn’t elicit any response. A spokesperson at NPCI didn’t immediately comment on the matter.
ET had reported in January that Tata Digital had set up a new financial marketplace entity Tata Fintech<\/a>to offer multiple financial products, including a retail payment gateway.
For the Tata Group, an entry on the UPI network is a natural extension of its ambitious online commerce play where UPI payments can enhance the shopping experience. For instance, Amazon India also has its own UPI service that offers users cashback and other incentives.
Interestingly, if the Tatas are given the clearance, it will add an additional dimension to the much debated market share cap issue of UPI. NPCI has mandated new players cannot process more than 30% of the total transaction volumes of UPI during the preceding three months by a single player. However, existing players such as PhonePe and Google Pay were given time until the end of 2022 to comply with the order.
Walmart and Flipkart-owned PhonePe’s Sameer Nigam had told ET in September last year <\/a> he wasn’t worried about the market share cap and that he was complying with all the rules and there is little he can do to reduce his own market share. “I would like to believe that this is now user preference starting to play out based on success rate (of transactions) and acceptance,” he had told ET at the time.
WhatsApp Pay is among the major new players on UPI. Last year in November, NPCI allowed WhatsApp Pay to be scaled up to 40 million users from the earlier limit of 20 million users.
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再见加入UPI支付俱乐部自己的应用程序
传奇salt-to-steel集团正在寻求批准支付总公司的印度(NPCI)开始操作统一支付接口(UPI)作为第三方支付服务提供商提供电子支付服务,知情人士告诉等。
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传奇salt-to-steel集团正在寻求批准支付总公司的印度(NPCI)开始操作统一支付接口(UPI)作为第三方支付服务提供商提供电子支付服务,知情人士告诉等。
这是一部分塔塔集团的更广泛计划在互联网经济有意义的存在。塔塔塔塔集团,通过其数字商务单位数字,正与私人银行ICICI银行UPI基础设施,意识到说的来源。它还与另一家领先的私营部门银行举行的讨论作为额外的银行合作伙伴,意识到这件事告诉ET来源。
方等非银行平台e体育和谷歌支付与银行合作获得UPI铁路。由于强调技术的方法来更好地为消费者服务,非银行的应用对UPI表现好,过弯的大部分市场份额。例如,PhonePe和GooglePay最多的UPI每月交易而亚马逊支付,Paytm Facebook-ownedWhatsApp支付其他著名的应用程序。
UPI应用程序,尤其是当他们在处理大的交易量,选择与多家银行合作,分担负载。例如,GooglePay通过国有银行提供了UPI印度HDFC银行ICICI银行。
“再见也应用于操作NPCI TPAP(第三方应用程序提供商),希望下个月可以上线,“一个人意识到说。
这是当梭织数字也敲定计划下个月推出期待已久的Superapp塔塔Neu推出之际,印度板球超级联赛(IPL), 3月15日报道。“他们(塔塔集团)想要这塔塔Neu启动的时候更多的UPI支付可以使整个superapp轻松,“上面提到的一个人说。
今年2月,UPI看到总共45.2亿个事务,从NPCI按数据。
邮件发送给塔塔数码ICICI银行并没有引起任何反应。在NPCI发言人没有立即就此事发表评论。
ET 1月报道,塔塔数码有塔塔Fintech设立一个新的金融市场实体提供多种金融产品,包括零售支付网关。
塔塔集团,一个条目UPI网络的自然延伸其雄心勃勃的电子商务扮演UPI支付可以提高购物体验。例如,亚马逊印度也有自己的UPI服务,提供用户超市夜未眠和其他奖励。
有趣的是,如果再见有间隙,将添加一个额外的维度UPI的多讨论市场份额上限的问题。NPCI规定新球员无法处理超过30%的总交易量UPI由单个球员在前三个月。然而,现有的球员如PhonePe和谷歌支付给定的时间,直到2022年底,遵守秩序。
沃尔玛和Flipkart-owned PhonePeSameer尼噶告诉ET去年9月他不担心市场份额帽,他遵守所有的规则,几乎没有他能减少自己的市场份额。“我愿意相信这是现在用户偏好开始上演基于成功率(事务)和接受,”他告诉等。
WhatsApp工资UPI上主要的新球员之一。去年11月,NPCI允许WhatsApp支付扩大到4000万用户从2000万年的早些时候限制用户。
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