UPI 2.0, an upgraded version of the Unified Payments Interface (UPI), offers new features to ease digital transaction for users. After a delay of several months, Indian retail payments organisation National Payments Corporation of India (NPCI), in a closed-door event with industry players, released UPI 2.0, the upgraded version of the Unified Payments Interface (UPI).
Urjit Patel, the Governor of Reserve Bank of India, was present at the gathering to launch the upgraded payment infrastructure. Nandan Nilekani, Co-Founder and Non-Executive Chairman of Infosys, said, “UPI architecture allows you to bring innovations at the edge.
The RBI has done a commendable job in spearheading the account aggravator structure.” Speaking on the occasion, Rajnish Kumar, Chairman of State Bank of India, said, “Thanks to UPI, India’s payment infrastructure is simple and seamless. UPI has done a commendable job in integrating with global giants like Google and WhatsApp.
I am really proud that SBI has been associated with UPI since the beginning and at the forefront in leading this payment revolution in the system.” WhatsApp’s recent entry into payments has been mired in controversy with government officials asking the messaging behemoth to set an operating office in India, before launch.
A plea has been sent in this regard to the Supreme Court, as per media reports. Earlier in July, YourStory broke the news of additional features in which it stated that UPI 2.0 will allow linking of overdraft accounts; blocking payment through one time mandate; and sending invoices with payments. Read more from yourstory.com…
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