Indus OS and YES BANK announced a partnership to launch the first-of-its-kind integrated UPI payment platform. Through this partnership Indian consumers can access an OS-integrated framework designed for the UPI payment platform, without the hassle of downloading and storing an external app. Indian consumers can conveniently use the UPI payment platform directly on the SMS/ Messaging and Dialler interface, and even on third party apps. The payment platform is expected to launch within this quarter.
On the partnership, Rakesh Deshmukh, co-Founder and CEO of Indus OS said,
“This year, one of our focus areas is to empower the ecosystem with OS-integrated innovations that allow for mass applicability of initiatives launched under the ‘Digital India’ program. Our partnership with YES BANK, who has already created a success with its existing UPI framework, aims to further drive up the existing growth rate of UPI-based transactions. The OS-integrated UPI payment platform built by us allows for more deep and contextual integration with the smartphone experience. With Indus OS’ technological know-how and YES BANK’s expertise in banking, the output will surely be a success and set high benchmarks in the digital banking space. This will be a major step towards our mission to facilitate Govt. to citizen services for a billion Indians.”
Commenting on the partnership, Ritesh Pai, Chief Digital Officer, YES BANK said,
“YES BANK remains committed to the vision of a ‘less-cash economy’. We are constantly looking at ways to revolutionise digital products and solutions. As a leader in the UPI ecosystem, we are very excited to partner with Indus OS, the only operating system made for the Indian masses, to make the whole UPI experience more contextual. Integrating UPI into the mobile OS will help in creating multiple use cases for payments and spur the adoption of UPI in our country.”
Currently, over 10,000 online and offline merchants are being powered by YES BANK’s UPI payments solutions; and there have been over 20 million downloads of such merchant-partnered apps and over 5 million YES BANK powered Virtual Payment Addresses (VPAs).