Mumbai: Yes Bank today has partnered with Juspay to launch HyperUPI – NPCI’s plug-in service – that allows merchant apps to build in-app UPI payments. Merchants onboarded by Yes Bank can now offer their customers a one-click UPI experience without opening their UPI app.
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This plug-in software development kit (SDK) is built on a UPI-on-cloud stack, which also supports UPI payments for several consumer and merchant apps.
The UPI plug-in SDK simplifies the payment experience by reducing the transaction journey to just a single click. This leads to an improvement in transaction speed and a success rate of over 90%.
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“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,” said Naveen Chaluvadi, chief digital officer Yes Bank said.
According to Sheetal Lalwani, chief operating officer, Juspay this feature will remove payment friction while maintaining high-security standards. “With HyperUPI, we aim to empower businesses to integrate UPI into their apps seamlessly,” he added.
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The HyperUPI supports advanced features like mandates (recurring payments) and third-party validation (TPV). It can be integrated easily into the merchant’s apps across various technical frameworks like React-Native, Flutter, and Cordova.
Juspay was the first fintech to player to build the UPI PSP on the cloud, which has recorded an uptime of over 99.99% and the highest transactions per second (TPS) of 5,000. The company processes more than 50 million transactions per day across its products, which translates to a total payment volume (TPV) of over $500 billion annually.
