Indus OS has partnered with YES Bank to launch OS-integrated UPI (Unified Payment Interface) payment platform in India. Users with Indus OS will be able to use this UPI payment platform on SMS/ messaging, dialler interface, and on third party apps like WhatsApp. This means P2P transactions as well as utility payments can be made via SMS or messaging. The platform is expected to launch in this quarter.
Users will be able to initiate payments through a ₹ symbol in Indus Keyboard, within the messaging app. It allows sending money directly to contacts that user is chatting with. Indus OS is also looking to integrate artificial intelligence (AI) that will contextually suggest UPI payments in the messaging applications. The UPI platform will be linked to Aadhaar as well.
“This year, one of our focus areas is to empower the ecosystem with OS-integrated innovations that allow for mass applicability of initiatives launched under the ‘Digital India’ program. Our partnership with YES BANK, who have already created a success with its existing UPI framework, aims to further drive up the existing growth rate of UPI-based transactions,” Rakesh Deshmukh, co-Founder and CEO of Indus OS said.
About 35 per cent of all UPI transactions in India are done via YES Bank, claims company. Over 10,000 online and offline merchants are being powered by YES Bank’s UPI payments solutions.
“YES BANK remains committed to the vision of a ‘less-cash economy’. We are constantly looking at ways to revolutionise digital products and solutions. As a leader in the UPI ecosystem, we are very excited to partner with Indus OS, the only operating system made for the Indian masses, to make the whole UPI experience more contextual. Integrating UPI into the mobile OS will help in creating multiple use cases for payments and spur the adoption of UPI in our country,” Ritesh Pai, Chief Digital Officer, YES Bank said.