Government to launch common UPI app, interpolate with USSD platform, introduce helpline number for digital payments

Government to launch common UPI app,
interpolate with USSD platform,
introduce helpline number for digital
payments
With an aim of transforming India into a cashless economy, the government of India has been
promoting digital payments. Demonetization of old currency notes has indeed helped boost digital
transactions, but we’re still far away from having complete a cash-less society. To make digital payments
easier, the government has introduced Unified Payments Interface (UPI) for Android smartphones, and
Unstructured Supplementary Service Data (USSD) that lets you send money, check account balance and
mini statement, even without an internet connection. However, both platforms are in their nascent
stages and now the government is working on launching their improved version.
What makes UPI useful is the flexibility to use any bank’s app and connect your account. For instance,
even if you have an account with ICICI bank or HDFC bank, you can download SBI bank or Canara bank
UPI app to register for UPI and make transactions. During initialregistration it will ask you to choose your
bank and it will fetch all the liked details. However, each app has a different interface, which can be
confusing for the users. ALSO READ: How to use USSD-based mobile banking, here’s everything you
should know
Common UPI app

To streamline things for users, the government will be launching a new and stripped down version of the
UPI app. This app will allow users to transact across multiple banks. The app is expected to be launched
sometime within a week. As of now, the UPI Android app is offered by 33 banks. But the UPI interface is
built into the existing app, with other features and banking options. With the common UPI app, the
government aims to simplify the use of platform. ALSO READ: Unified Payments Interface: UPI-based
apps of every bank on Google Play Store
However, the new UPI app won’t replace the existing apps. It will just be a skeletal version having basic
features, giving users the ability to send or receive money, save user profile, link bank accounts, save
beneficiary details and change language. Users can either use the new common app, or use the bank’s
in-house app which may offer a few extra features.
Since demonetization on November 8, the number of daily transactions on UPI platform has doubled
to70,000, and has 4.2 million registered users. “But we are not very happy. 70,000 is not really a number
to be satisfied with. We believe that in the days ahead, further improvement can happen,” National
Payments Corporation of India (NCPI) MD AP Hota told ET. “In due course, when more functionalities
are added, we hope that instead of upgrading their individual apps, banks may switch over to the
common app,” Hota added. ALSO READ: Demonetization: How to get started with UPI apps and go
cashless to beat the cash crunch
Interpolating UPI with USSD platform
The UPI app is great for Android smartphone users, but a lot of people, especially in the rural areas are
still using feature phones, which mostly don’t have internet access. This is where the USSD platform
comes to their rescue. One can simply dial *99#, followed by bank code and get details such as account
balance, mini statement, or send money using the recipient phone number and MMID. it does not
require any internet connection, and is as simple as checking your mobile. However, the number of
steps involved are quite annoying. ALSO READ: Bharat Bill Payment System launching soon, a platform
for citizens in rural areas to pay bills
Furthermore, having multiple payment systems is just creating more confusion among the users. For
Download Upi App, you need Virtual Payment Address (VPA), for USSD-based mobile banking you need
Mobile Money Identifier (MMID) number, and so on. However, now the government is looking to
integrate UPI into USSD platform, making it available offline too. ALSO READ: Aadhaar Payment App:
Here’s how it will ease payments process for everyone
After demonetization, the USSD-based transactions have jumped from 1.5 lakh per day to 6.5 lakh per
day. The platform is now supported by 51 banks and integration with Download Upi App for offline
transactions could further help bolster USSD platform. Instead of having to put the mobile number and
MMID, which will also be hard to remember, entering a VPA will also ease things to a greater extent.
With this push, the government wants to give a major push to enable 600 million Indians to make use of
digital payments.
Common helpline number for digital payments
Sure, a lot of users have questions about digital payments, be it with the understanding of process or
how it works. And there is no one-stop-shop of sorts to address those issues. But, with the government
giving a major push to digital payments, it is also looking forward to introduce a common helpline
number. It is already working with NASSCOM and telecom operators to create a single point number –
14444.

Source: http://bit.ly/2l3rVy9