New Delhi: With Unified Payments Interface (UPI) emerging as a popular mode of making digital payments, a plethora of third-party or non-bank-owned apps have started supporting UPI-based payments. Hota said e-commerce giant Amazon and cab hailing space Uber will soon accept UPI payments. Payments banksPaytm Payments Bank, a unit of One97 Communications, plans to go live with UPI in August as it aims to widen its payments network for merchants and users. Paytm Payments Bank said it will allow its customers to create a unique UPI account through which they can send and receive money. The payments bank, rolled out on 23 May after having received an investment of Rs220 crore from its parent company, competes with Airtel Payments Bank Ltd and India Post Payments Bank Ltd.

Source: Mint July 12, 2017 04:30 UTC