PhonePe, Axis Bank partner to boost UPI multi-bank model

Wednesday 10 February 2021 11:34 CET | News

PhonePe has partnered with Axis Bank to boost the UPI multi-bank model.

PhonePe users can now create and use multiple UPI IDs with Axis Bank’s ‘@axl’ handle. PhonePe will also start acquiring merchants with Axis Bank.

According to the company, the goal of the collaboration with multiple banking partners is to strengthen the overall service reliability and uptime of the company’s offering. With the option to use multiple UPI IDs, PhonePe aims to ensure that user can still make transactions even if a bank's handle is temporarily out of service.

PhonePe has previously teamed up with YES Bank and ICICI bank for creating and using UPI IDs for the online payments multi-bank model.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: PhonePe, Axis Bank, partnership, India, Asia, UPI, Multi-bank, transactions , mobile payments
Categories: Payments & Commerce
Countries: India
This article is part of category

Payments & Commerce