Digital payments company PhonePe has been mandated by the National Payments Corporation of India (NPCI) to add another banking partner for its Unified Payments Service (UPI) model. The mandate for major UPI players to go multi-bank was to avoid cases of transaction declines and allow banks with large customer base to keep their customers within their settlement ecosystem.
Previously PhonePe was offering UPI payments in partnership with Yes Bank through the ‘@ybl’ handle. (Source)
Aarzoo is an author at Entrackr who tries to bring in an unbiased perspective while writing about the budding Indian startup ecosystem. Along the way, she also analyses the companies, their numbers, and compiles them. A graduate in Economics from Lady Shri Ram College for women, a will to explore the emerging businesses drives her the most. Connect with her at [email protected].
Entrackr is a new age media platform for entrepreneurs, startups and technology enthusiast Read More >
