Samsung India today announced the availability of the National Payments Corporation of Indias (NPCI) Unified Payments Interface (UPI) on its flagship mobile payments service for Samsung pay.
Benefits of UPI in Samsung Pay
With the introduction of UPI, Samsung Pay now integrates card payments. mobile wallets and UPI in one secure app. The transactions made by users through UPI on Samsung Pay would be facilitated through Axis Bank.
With the launch of UPI on Samsung Pay. users can create their unique virtual addresses @pingpay enabling them to make seamless bank to bank transfers. A unique benefit of enabling UPI on the Samsung Pay app is the integration with the users’ address book which then identifies existing @pingpay accounts on the contact list. @pingpay is the UPI handle assigned to Samsung Pay.
What is UPI
UPI is a payment system that powers multiple bank accounts into a single mobile application (of any participating bank). merging several banking features, seamless fund routing and merchant payments under one hood. This would also cater to the Peer to Peer collect request, where users can request for payments from their contacts. adding to the convenience of Samsung Pay consumers.
A short intro about Samsung pay
Samsung Pay, which was recently launched in India. is a highly secure platform that works with three levels of securityfingerprint authentication, card tokenization and Samsungs defense-grade mobile security platform Samsung KNOX. Simple and secure.Samsung Pay can be used to make purchases almost everywhere you can swipe or tap your debit or credit card to make payments.
Mr. Sanjay Razdan, Director, Samsung Pay Business, Samsung India said. ”We are extremely delighted to announce the integration of Samsung Pay with UPI for our consumers. Samsung supports the Governments vision to drive India towards a digitally empowered economy and through Samsung Pay we enable our consumers to make payments using our smartphones. Samsung Pay is simple, secure and accepted almost everywhere.