In an endeavour to serve the customers better, National Payments Corporation of India (NPCI) has launched Unified Payments Interface (UPI) 2.0. Dr. Urjit Patel, Governor, Reserve Bank of India, Nandan Nilekani, Advisor – Innovation, NPCI, Rajnish Kumar, Chairman, State Bank of India launched the service in the presence of Biswamohan Mahapatra, Non- Executive Chairman, NPCI, Dilip Asbe, MD & CEO, NPCI and senior bankers from the industry.
Dilip Asbe, MD & CEO, NPCI said, “We are happy to witness the revolution brought about by UPI in the last two years. Large number of banks, merchants, third-party players and consumers trusted this platform which resulted in substantial growth in terms of volume and value of transactions since its inception. With the launch of UPI 2.0 we hope to touch new milestones by expanding UPI’s presence especially in person-to-merchant payment space.”
Nandan Nilekani, Advisor – Innovation, NPCI said, “UPI is a path breaking innovation that is unprecedented globally. Its high volume, low cost and highly scalable architecture built on an open source platform is key to India’s transformation to a digital payment economy.”
Rajnish Kumar, Chairman, State Bank of India said, “NPCI has played a stellar role in enabling various payment platforms. From launching a card payment settlement system that competes with Visa and MasterCard to setting up a platform to facilitate instant money transfer service, NPCI has been moving from one success story to other. The success story of UPI has been acknowledged across the world with other countries trying to emulate similar solutions.”
