Razorpay has launched its Turbo UPI plugin on the BHIM Vega platform in association with NPCI BHIM Services and Axis Bank. The solution is expected to revolutionise digital payments by allowing businesses to accept in-app payments with ease, making it possible for customers to make transactions instantly without having to jump to third-party apps. Based on the future-ready BHIM platform, BHIM Vega provides a revolutionary UPI payment experience that eliminates friction in online transactions and delivers unmatched speed and reliability.
Razorpay Turbo UPI plugin solves one of the largest problems in UPI payments, redirection to external apps, by allowing users to make payments directly within the app. This consolidation not only decreases transaction fall-offs, but also gives higher customer satisfaction with a quicker and safer payment process. Utilising BHIM Vega’s infrastructure, Razorpay has optimised routing for payments so that even if one bank partner fails, it can still ensure more successful transactions. This banking partnership diversification enhances reliability and availability for businesses and makes digital payments more reliable than before.
Speaking in this regard, Harshil Mathur, Co-Founder and CEO, Razorpay, said that the integration of Turbo UPI with BHIM Vega is a game-changing innovation that addresses key pain points in UPI payments. By eliminating redirections and manual entry steps, the plugin streamlines onboarding for end-users while providing a faster and frictionless payment experience. Mathur noted that this partnership reinforces Razorpay’s commitment to deliver cutting-edge solutions that empower businesses in the digital age.
Lalitha Nataraj, Managing Director and Chief Executive Officer (CEO), NPCI BHIM Services mentioned the move as an important step towards easing digital payments and promoting UPI adoption nationwide. She reaffirmed BHIM’s objective of driving financial inclusion by facilitating last-mile digital payment solutions.
This partnership is a landmark in UPI plugin technology, providing the business with a smooth and faultless payment experience and promoting user satisfaction.
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