UPI Payment is an essential part of every Indian’s life, paying for Tea at Tea shop, buying a milk pocket at a corner shop or ordering food or even sending payment to a friend. UPI market share increases month-on-month. No one can deny, UPI is the one of the reasons for the digital payment growth in India. UPI payments is the most dominating payment in India for both P2P and P2M transactions.
UPI Offline Payments
Scan and pay is the new standard of offline payment, UPI QR code payments ease the micro transactions, customers are not required to tender exact change to shopkeeper or search for nearby ATMs for cash, Scan and pay the universal QR code stickers on the shop from any UPI apps and get real time payment confirmation.
UPI Online Payment
Almost all the payment gateways provide UPI payment options, customers can make online UPI payment to buy groceries or book a movie ticket or order food. UPI payment is more convenient and secure compared to other payment methods available, not required to remember any number or user IDs, just tap and pay from a mobile device or scan and pay the dynamic QR code from any UPI app.
Customers love UPI
Customers love UPI payment for its convenience. How WhatsApp redefined messaging, In India UPI redefined digital payments, elders who never used netbanking or debit cards online started using UPI apps like Gpay and PhonePe easily.
UPI for Small Business
UPI dominates in both P2P (Peer to Peer transaction sending money to person to person), P2M (Person to Merchant transaction, sending money from person to business). UPI Offline payments business Gpay, PhonePe and PayTM holds the major market share. Here the number of transactions are less, shopkeepers have to monitor and make sure the payment is received or not. Offline QR code solutions are ideal for small businesses.
UPI for Online Payments
If you want to collect payments in your website or App from your customers you have to use payment gateways, almost all the payment gateways provide UPI payment option so your system will know the payment status and process the order automatically once payment is successful without manual reconciliation but payment gateway charges percentage based pricing as standard pricing. Also all the payment gateways do not provide a core UPI stack.
Paysharp’s UPI Solution
Paysharp provides a complete UPI solution with complete branding and customisation with all the UPI payment options such as mobile intent (tap and pay), dynamic QR code and collection request. Businesses can easily integrate UPI payments in the website and Mobile app using Paysharp's UPI solution. Paysharp only charges a small flat fee per transaction as platform fee which is cost-effective alternative to percentage based pricing
How Paysharp’s UPI Solution is Different
Paysharp’s UPI solution is technically elegant and made for scale to handle concurrent transactions. Tech stack is built with serverless technology to handle predictable and unpredictable load.
Complete UPI stack
Charges flat pricing per transaction as platform fee
Very good success rate
Outstanding ongoing support with dedicated relationship manager
The business who use online payment gateways can use Paysharp’s UPI solution to increase ROI.