Juspay Launches NPCI’s UPI Plug-in SDK in Partnership with Yes Bank; Gullak Becomes the First Merchant to Integrate
Sep 13, 2023
BusinessWire India
Bangalore (Karnataka) [India], September 13: Juspay, India's leading payments company, has partnered with Yes Bank to launch HyperUPI, NPCI's plug-in SDK that enables in-app UPI payments in merchant apps. Merchants can now offer simple “1-click UPI experiences” in their Android and iOS apps without having to become an official UPI app. Customers will no longer need to depend on another app to make UPI transactions as these payments can now be made on the merchant's app. This plugin SDK is built on one of the country's most trusted cloud UPI systems, supporting UPI payments for leading UPI merchant and consumer applications.
Traditional UPI payments in merchant apps involve multiple clicks, creating several points for customers to abandon the payment process. However, the UPI Plug-in SDK simplifies the payment experience to just a single click. This streamlined process leads to a remarkable four-fold improvement in transaction speed and success rates of 90%+ for the merchants.
HyperUPI is a differentiated offering in the market due to its ability to support advanced features like mandates (recurring payments), Third-party validation (TPV), etc. Moreover, it offers merchants a no-code platform, empowering them to create a fully customized user interface that seamlessly blends with their App's theme and branding. HyperUPI can be integrated easily into the merchant’s apps across various technical frameworks like React-Native, Flutter, Cordova, and more.
“We are excited to partner with Juspay to bring the plug-in SDK to market. It stands as a testament to our collective prowess in UPI and digital payments. We aim to offer excellent payment success rates with round the clock availability to merchants and earn a reputation of being one of the finest UPI stacks in the ecosystem. We look forward to extending this solution to our merchants,” said Naveen Chaluvadi, Chief Digital Officer, YES bank.
“We are thrilled to introduce HyperUPI in collaboration with Yes Bank and NPCI, as Indian customers and businesses rapidly embrace UPI as their preferred mode of digital payments,” said Sheetal Lalwani, Chief Operating Officer, Juspay.
“As a company, we are committed to building innovative solutions that remove payment friction while maintaining high-security standards. With HyperUPI, we aim to empower businesses to seamlessly integrate UPI into their apps, providing customers an unparalleled payment experience,” he added.
Gullak, a leading fintech app, has become the first merchant to deploy Juspay's UPI plugin SDK - HyperUPI. This will eliminate the need for Gullak customers to access another UPI payments app when checking out, allowing them to pay right within the Gullak app itself.
Dilip Jain, Co-Founder, Gullak said, “With HyperUPI Plug-in SDK, customers can complete their UPI payment in less than 5 seconds. The HyperUPI flow has improved our success rates to 92%, as compared to 80% in the UPI intent flow. We are committed to constantly innovating and leveraging cutting-edge technology to deliver the most seamless savings experience for the billion Indians. Juspay’s HyperUPI has a simplified integration process; it took us less than a week to finish the integration.”
Juspay has been a part of India’s UPI journey from the beginning. It became the first technology player to build the UPI PSP on cloud, which has recorded an uptime of 99.99+% and the highest TPS of 5000. Juspay processes more than 50Mn transactions per day across its products, which translates to a TPV of $500 Bn+ annually. With this innovative partnership between NPCI, Yes Bank, and Juspay, merchants and customers alike can now embrace secure, seamless, and lightning-fast UPI payments within mobile apps.
(Disclaimer: The above press release has been provided by BusinessWire India. ANI will not be responsible in any way for the content of the same)
