E-commerce website Amazon launched the Amazon Pay Unified Payments Interface (UPI) for secure payment and financial transactions on its platform. It has been introduced to Android users. Amazon has introduced it in partnership with Axis Bank. Axis Bank will provide UPI ID to the users. UPI is an instant real-time payment system developed by the National Payments Corporation of India.
Merchant payment will come in faster:
The company says that through the new service, users will be able to shop at Amazon.in with the Amazon Pay UPI ID. Also, recharge, bill payments etc will be able to pay. For this, users will not need to add their bank account or debit card number. Director of Amazon Pay, Vikas Bansal has said, “The launch of the Amazon Pay UPI is to accelerate the merchant payment on the UPI platform.”
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User Transaction will remain Safe:
Every user transaction made on Amazon is protected by the UPI pin, including mobile device verification. Users can link their bank account to UPI through a one time set-up process. With this, any payment can be made immediately. The company says that Amazon wants to connect its users with BHIM UPI through this launch. This will accelerate the cashless India Government of India.
Moving forward to cashless payments to Apple Pay and Google Pay users:
Worldwide cashless payments are underway. In many countries people are paying online or offline through mobile wallet to digital payments. In such a way, Apple and Google, which have created operating systems for smartphones, have also launched their e-payment ie mobile payment system.
At the same time, in India also, people have started making payments through mobile wallet like Paytm, Mobikwik, PhonePay since the ban in 2016. In this way we are bye-bye to pay by cash. From small towns to metropolitan cities, payment through cashless payment or e-payment has been encouraged. How Apple Pay and Google Pay are leading smartphone users to cashless payments?