Feb 14. To facilitate secure payments and financial transactions on its
platform, Amazon on Thursday launched “Amazon Pay Unified Payments
Interface (UPI)” for Android users in partnership with Axis Bank to issue
UPI IDs to its customers in India.
What is UPI
UPI is an
instant real-time payment system developed by National Payments Corporation of
India processing inter-bank transactions.
users would be able to use their Amazon Pay UPI ID to shop on Amazon.in, make
payments for their daily purchases, including recharges and bill payments,
without entering bank account or debit card credentials or going through a
multi-layer process to pay from their bank account, the company said in a
Amazon Pay UPI
launch of Amazon Pay UPI is a key milestone to help accelerate adoption of
merchant payments on UPI platforms,” said Vikas Bansal, Director, Amazon
customer transaction on Amazon is secured through mobile device verification as
well as with UPI pin.
could link their bank accounts and complete one time set-up process by setting
up a UPI pin to make instant payments.
is a key step to enable Amazon customers in adopting BHIM UPI as a digital
payment method, thereby helping the Indian government’s initiative of
“Cashless India”, the company added.
2007, Amazon Pay – the online payments processing service owned by Amazon –
uses the consumer base of Amazon.com and focuses on giving users the option to pay
with their Amazon accounts on external merchant websites.
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