YES BANK partners with Juspay, a payments business, to introduce HyperUPI, NPCI’s plug-in technology that allows merchant applications to accept in-app UPI payments. Merchants on board by YES BANK may now provide their clients with a hassle-free one-click UPI experience utilising both Android and iOS-based devices, without having to switch to an external UPI-based software. Customers will now be able to conduct UPI-based transactions directly within the merchant app. This plug-in software development kit (SDK) is based on one of the most dependable UPI-on-cloud stacks in the country, and it also offers UPI payments for a variety of consumer and merchant apps.
UPI payments typically need many clicks, which increases the time required to complete a transaction, resulting in clients abandoning the payment process midway. By shortening the transaction trip to a single click, the UPI plug-in SDK streamlines the payment experience. This optimised method results in a significant increase in transaction time and a success rate of more than 90 per cent.
Speaking on the occasion, Naveen Chaluvadi, Chief Digital Officer, YES BANK said, “We are excited to partner with Juspay to bring the plug-in SDK to market. It stands as a testament to our collective prowess in UPI and digital payments. We aim to offer excellent payment success rates with round the clock availability to merchants and earn a reputation of being one of the finest UPI stacks in the ecosystem. We look forward to extending this solution to our merchants.”
“We are thrilled to introduce HyperUPI in collaboration with YES BANK, as Indian customers and businesses rapidly embrace UPI as their preferred mode of digital payments,” said Sheetal Lalwani, Chief Operating Officer, Juspay. “As a company, we are committed to building innovative solutions that remove payment friction while maintaining high-security standards. With HyperUPI, we aim to empower businesses to seamlessly integrate UPI into their apps, providing customers an unparalleled payment experience,” he added.
Because of its capacity to support sophisticated features such as mandates (recurring payments), third-party validation (TPV), and others, the HyperUPI stands apart in the industry. Furthermore, it provides merchants with a no-code platform, allowing them to design a fully personalised user experience that merges in with the theme and branding of their app. HyperUPI may be readily incorporated into the merchant’s apps using a variety of technical frameworks including as React-Native, Flutter, Cordova, and others.
The plug-in SDK infrastructure was also used by YES BANK to launch YES PAY NEXT, the bank’s payment service provider (PSP) app. The software will allow all users to seamlessly access full-fledged UPI services such as person-to-person payments and pull payments.
