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Which company launched India's fastest one-step UPI payments solution 'Turbo UPI'?
A)
PayU
B)
Paytm
C)
BillDesk
D)
Razorpay

Correct Answer :   Razorpay


Razorpay has launched ‘Turbo UPI’ which the fintech unicorn says is India's fastest one-step UPI (unified payments interface) payment solution.

This new product allows customers of online merchants to make UPI payments directly without getting redirected to a third-party UPI app during checkout.

Aim : Razorpay Turbo UPI aims to deliver a 5X faster payment experience. It streamlines the payment process and eliminates any redirection to external apps.

* This helps businesses achieve a significant increase in the success rate of UPI payments by 10 per cent.  

* This solution was developed in partnership with NPCI and Axis Bank.

* Turbo UPI also offers granular insights into the end-users drop-off pattern and enables merchants to control the entire payment experience of their customers, end-to-end. For end-users, this means a simple 1-step UPI payment experience instead of 5 steps. Customers of popular apps including Tata Starquik, Ixigo, FNP (Ferns N Petals), Trainman, and Dhan among others will soon be able to get the benefits of this innovation.

* Providing a frictionless customer experience has been a top priority for us. As a business, it is of utmost importance to provide customers best and most seamless payment experience, and ‘Turbo UPI’ has taken that up a notch,” said K. Radhakrishnan, Co-founder, Tata Starquik. “We are confident that this streamlined, frictionless, and time-saving payment solution will not only enhance our customers’ experience but also minimize drop-offs during the UPI payment journey.”..

Source : Business Standard

Published On : May 31, 2023
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