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YES BANK collaborates with Amazon Pay and AWS to offer UPI

Friday 26 November 2021 12:56 CET | News

YES BANK has announced its collaboration with Amazon Pay and Amazon Web Services (AWS), to offer customers an instant real-time payment system via a UPI transaction facility, according to IBSintelligence.

UPI facilitates inter-bank peer-to-peer and person-to-merchant transactions through YES BANK’s digital payments platform and expands YES BANK’s digital banking offerings.

The integration enables Amazon Pay to issue UPI IDs with the @yapl handle, allowing customers to make fast and convenient payments. 

Based on a multi-bank model, this collaboration allows the bank to acquire merchants through the Amazon Pay platform, further extending the Bank’s presence in the UPI merchant business segment.

YES BANK has developed a cloud-native UPI processing platform to optimally handle the high traffic of transactions observed during surge periods like festivals or annual sales. The Bank is hosting its UPI processing platform on AWS. With AWS, the Bank will have more flexibility to scale with the exponential growth in UPI volumes driven by high customer demand.


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Keywords: UPI, instant payments, digitalisation
Categories: Payments & Commerce
Companies:
Countries: India
This article is part of category

Payments & Commerce






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