SEAMLESS PAYMENTS POWERING
A CASHLESS ECONOMY
UNIFIED PAYMENTS INTERFACE
www.yesbank.in
UPI
A GIANT LEAP TOWARDS A CASHLESS ECONOMY
UPI is a digital platform developed by National Payments Corporation of India (NPCI) that aims to encourage digital payments by making them easy, quick and hassle free. UPI allows secure transfer of money between any 2 account holders across participating banks from their smartphones using just their Virtual Payment Address (VPA) without entering their bank account details or filling long forms.
UPI IS BUILT AROUND
4 CORE ELEMENTS PULL AND PUSH PAYMENTS Ÿ Ÿ Ÿ Ÿ
Initiate requests for collections Authorize payments for miscellaneous purposes Push – E-shopping, investments, premiums, payments to individuals Pull – Collection of bills, premiums, outstanding dues, splitting bills
SEAMLESS TRANSACTIONS Ÿ Ÿ
Instant, Real time and 24* 7 Interoperability across different bank accounts
SECURITY Ÿ Ÿ
Strong encryption in all smartphones Payer’s credentials captured through NPCI Secure Library
SIMPLICITY Ÿ Ÿ
Bank details not needed – all transactions through a single virtual payment address One-Click 2 factor authentication
YES BANK’s Exclusive UPI Solution for Merchant Transactions Mobile App Plug-In/Server APIs
Merchant Portal Dashboard Control
§ Simple integration with all merchant apps
§ Comprehensive overview of all transactions
§ Plug and Play mechanism
§ Real time MIS and settlement reports
§ Flexible APIs allowing merchants to innovate
§ Instant transaction status and alerts
§ Allows dynamic, on the fly registrations &
§ Registration and supervison of users and sub
transactions
merchants
Individual’s Per Transaction Limit: Rs. 1 Lac
The YES BANK UPI Advantage Value For Money
Cheaper than other payment mechanisms
Immersive Experience
End-to-end execution of transactions without leaving the merchant app
Flexible
Simple & comprehensive APIs allowing merchants to freely innovate as per requirement
Ease of Use
One step checkout for registered users
ALL PAYMENTS,
Anywhere, Anytime
PHYSICAL STORES/ MERCHANTS § Vegetable vendor payments § Grocery store payments § Payment for taxi/auto/bus/train/air
UTILITY PAYMENTS § Payments for utility bills like
electricity, water, telephone, credit card etc. § Apartment maintenance fees
fares § Payment of school fees § Payments in restaurants/shops/petrol
pumps
§ Insurance premium payment
§ Toll plaza payment while travelling
§ Home loan instalments
§ Payments to milk vendor/newspaper
§ Car loan EMI Payment
vendor § Trust/Temple/relief fund/NGO
donation § Payments at the mall
ONLINE MERCHANTS/ E-COMMERCE
PEER TO PEER
§ COD payments
§ Remittances (Both Push & Pull)
§ In-App payments
§ Payment to person/friends
§ Online trading
§ Sharing bills with friends
§ Mobile recharge from newspaper
§ Salary payment to Driver
advertisement using 'Scan N Pay' § Aadhaar / mobile no based inward § Ecommerce (Collection/Pull)-
Payment through UPI after Checkout § Booking the movie tickets
remittance to another bank account
How it works
Your guide to a convenient, cashless world
A. PAYING FOR PURCHASES MADE ON ANY ECOMMERCE SITE § Sita is browsing myCartDeal for a furniture deal. She finds a leather sofa that costs Rs.40,000. She
logs in to myCartDeal and places the order. § Since it is custom made furniture, myCartDeal allows her to pay 70% as advance during the order and
the remaining 30% on delivery. During checkout, she chooses "Collect Pay" option and provides her virtual address provided by her payment service provider (PSP),YES BANK, to make advance payment and authorizes the payment for Rs.28,000.
How it works § Sita enters her virtual address on the website
during the checkout process. § Since it is custom made furniture, myCartDeal
wants to collect only 70% as advance. § They initiate the first “collect” request with
Rs.28,000 payable at checkout. § They send the collect request along with order
number to NPCI via their PSP. § NPCI routes the request based on Sita's virtual
address (sita.1234@yesbank) to her PSP - Yes Bank. § YES BANK application sends a notification to
Sita's mobile application. § Sita accepts the collect request by providing her
credentials.
§ NPCI notifies myCartDeal's PSP about the
successful payment and myCartDeal confirms the order. § Once the furniture is ready, myCartDeal
creates a new collect request for the remaining amount (Rs.12,000) with a "pay by" date and sends it to Sita's PSP. § Sita snoozes the request and leaves it in her
mobile application’s inbox since it needs to be paid only after delivery. § Once the furniture is delivered, Sita clicks on
her inbox item (second pending collect request) and authorizes the payment for Rs.12,000 § The transaction is now complete with seamless
operability within the application itself.
§ YES BANK debits the specified amount
(Rs.28,000/-) within the collect request from her account and confirms the debit back to NPCI.
Most relevant for businesses enabling online purchases
B. COLLECTING MONEY FROM A FRIEND § Two friends Jack and Jill go out for dinner and Jack pays the bill. They agree to split the bill in half.
Jack pays the full amount, and asks Jill to pay her half within a week.
How it works § Jack logs on to his YES BANK mobile
application § Jack initiates the collect request by providing
Jill's address - Jill.444@yesbank § Jack enters the amount to be paid by Jill § Jill gets a message on her phone with the collect
request from Jack for the required amount. Jill's PSP also shows Jack's full name reflected in the Aadhaar system which was verified during Jack's on boarding
§ Her mobile application reminds her after the
snooze period is over. § She accepts the collect request, provides
biometric credential using her biometric enabled smartphone, and authorizes the payment. § Jack receives confirmation of payment.
§ Jill is in a meeting, so she snoozes the request
and decides to attend it later. Since the request had specified that it can be paid within a week, Jill's mobile application allows such snooze and reminder features.
Most relevant for companies providing peer to peer payments
Our Partners
FAQs Can a customer have Multiple Virtual Payment Addresses (VPAs) with multiple banks?
Yes
Can one account be linked to multiple VPAs?
Yes
Can multiple accounts be linked with one VPA?
Yes
Can a customer set MPIN/ reset MPIN?
Yes, using Debit Card credentials
Can a customer send money to non UPI Banks?
Yes, if beneficiary Bank is on IMPS
Can collection be done using Account No./Aadhaar/Mobile number?
Not currently
Can a merchant have a custom UPI handle? (e.g. @merchant name)
Not allowed by NPCI
Can UPI be used from a website?
Collect request initiated from website can be authorized on a mobile app
To know more, visit : www.yesbank.in/upi
900 Branches Pan India | 1,710 ATMs | 18,000+ YES BANKers Corporate Office: YES BANK Tower, IFC 2, 27th Floor, Senapati Bapat Marg, Elphinstone (W), Mumbai - 400013, India