Unified Payments Interface (UPI) transaction volume in November touched 105 million, up 37% from 76.8 million in the previous month. Photo: Abhijit Bhatlekar/MintNew Delhi: National Payments Corp. of India (NPCI) is working to set up a framework for integrating non-bank mobile wallets with the Unified Payments Interface (UPI) platform. As of now, non-bank mobile wallet users cannot make payments through UPI; they can only load their wallets through it. “In subsequent phases, interoperability shall be enabled between wallets and bank accounts through UPI. “If there is a UPI-based handle available for non-bank wallet users, they can easily transfer the money from their wallet to the merchant.

Source: Mint December 01, 2017 19:18 UTC