Business Wire India
Freecharge, one of the leading fintech platform in the country, today announced the launch of BHIM UPI (Unified Payment Interface) on its App. Freecharge users now have the convenience to use all UPI based payment services via their @freecharge UPI ID. This interface would provide a number of services like, send money to family and friends by entering recipient’s UPI ID or Account Number and IFSC; request money from friends; pay online and offline merchants; scan and pay via UPI enabled QR code. For seamless transactions, customers can link bank accounts to a single UPI ID with an option to select any of their accounts for payment.
Adoption of BHIM UPI by larger financial institutions and payment gateways has given the much-required momentum towards Government’s vision of a cashless economy. An interface like the UPI has significantly empowered users with the choice of hassle-free, safe and convenient mode of transaction. UPI on Freecharge offers a friction-free and secure payment experience and instant money transfer to any bank account or payment to a merchant. Customers can register for UPI in three simple steps; verify the mobile number, link it to the bank account of choice and set the UPI PIN.
Speaking about the launch Sangram Singh, CEO, Freecharge stated, “Freecharge emphasizes on creating value proposition for the end users by making payment transactions smoother and faster. With UPI integration, we are adding one more large-scale instrument that enables users to make digital transactions with ease. UPI is increasingly emerging as a mainstream payment method and will enhance the growth of digital transactions and we as a digital facilitator of payments are excited to be a part of this consumer evolution.”
As per the UPI-based metrics for February specified by NPCI, the total transaction count by all apps stood at 171.40 million. Given this unprecedented impetus, digital transactions are creating mammoth impact in the payment space and Freecharge with its UPI launch will fittingly contribute to the same.