India-based Razorpay has partnered with Airtel Payments Bank in order to launch UPI Switch, aiming to provide businesses with improved payment experiences. Following this announcement, the UPI Switch was developed in order to boost success rates by 4-5%, as well as ensure smooth and secure transactions for businesses.

In addition, companies and partners will be enabled to get access to UPI innovations faster, while also meeting the needs, preferences, and demands of customers and remaining compliant with the regulatory requirements of the industry. More information on the collaboration India-based Razorpay provides its omnichannel payment ecosystem in order to enable merchants and businesses to adopt hybrid approaches and allow them to reach their clients faster, securely, and more efficiently. Razorpay started to accelerate UPI development in 2017, when the company enabled payment acceptance, introduced the UPI Autopay feature, as well as allowing credit card payments and credit lines on UPI.

The current launch represents a step into the company’s strategy to manage the entire merchant experience, while also offering the foremost industry stack. The UPI infrastructure was developed as a cloud-based solution, being expected to handle up to 10.000 transactions per second (TPS) at any given time. As Unified Payments Interface solutions become India’s preferred payment method, representing 70% of digital transactions, the product launch is expected to support various modes such as savings and current accounts, prepaid wallets, credit lines, and credit cards.

Razorpay’s UPI Switch will provide secure and efficient information that was developed in order to solve multiple challenges present in the industry, as well as optimising the experience of businesses with its range of features. In addition, the solution was designed to process refunds instantly, which ensures a secure and fast customer experience. Razorpay UPI Switch will focus on accelerating the UPI services in the region, while also further developing the local financial landscape.

At the same time, Razorpay’s UPI Switch is also expected to provide scalability, security, and improved performance to businesses. This venture into UPI Infrastructure marks a strategic move in order to manage the end-to-end merchant and trader experience, as well as deliver an optimised set of benefits for customers. .