UPI Banking

India moved a step closer towards becoming a cashless economy with the launch of Unified Payment Interface (UPI). With this new payment method, smartphones can now double up as virtual debit cards and one can send or receive money instantly. RBL Bank UPI is a system that allows linking multiple bank accounts into a single mobile application, merging several banking features, seamless fund routing & merchant payments into one place.

How Does it Work?

• Client needs to create a third party PSP app using SDK (Software Development Kit) provided by RBL Bank.
• The SDK is certified by NPCI and then deployed into Playstore.
• Customers download the app and create their VPA (Virtual Payment Address) which is a virtual handle (like in twitter) acting as alias for underlying bank account.
• Customer can now perform their banking transactions using the VPA without exposing their Bank a/c details.