Tata Digital starts testing UPI payments in closed user group
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Tata Digital starts testing UPI payments in closed user group

Tata Digital starts testing UPI payments in closed user group

Bengaluru: Tata Digital has begun testing online payments using the Unified Payments Interface (UPI) on Tata Neu’s’super app. Sources briefed on this matter stated that the test is being done with a closed user group and in partnership with ICICI Bank.
Tata Digital will launch the nifty app to all consumers on April 7.

ET reported that the company was working closely with ICICI Bank on March 16 and had requested clearance from them. National Payments Corporation of India ( NPCI To make its UPI debut), Tata Neu has been added to the NPCI’s third-party UPI apps list.

“They (Tata Neu) have started testing in a (closed) group. “This is part of the process before opening the system to all users,” said a familiar person.

On UPI payments, It faces competition from PhonePe and other companies like Amazon Pay, Google Pay, Paytm, Paytm, and WhatsApp Pay.

The Tata Group’s digital commerce strategy is complete with UPI membership. It can improve the online shopping experience. Amazon India offers its own UPI service, which provides cashback and other incentives.

Tata Digital did not immediately respond to an email that was sent.

According to data from NPCI, in March 2022, there were 5.4 Billion UPI transactions, an increase of nearly 20% month-on-month. UPI processed $1.09 trillion in payments from 2021-to 22.

Large transaction volumes are expected for UPI apps. They often work with multiple banks to spread the load. GooglePay, for example, offers UPI via the State Bank of India (HDFC Bank) and ICICI Bank.

ET reported that Tata Digital’s president Mukesh Bansal had brought in many top eCommerce executives since his arrival. Bansal was the founder of Myntra and owns Curefit (now rebranded as Cultfit).

Tata Digital starts testing UPI payments in closed user group
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