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Razorpay has announced the launch of ‘Turbo UPI’ that allows customers of online merchants to make UPI payments directly without getting redirected to a third-party UPI app during checkout. According to the company, the new feature streamlines the payment process and helps businesses in successful completion of UPI payments.
Turbo UPI also offers 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 1-step UPI payment experience, as opposed to 5 steps.
Also read: RBI proposes UPI transactions from pre-sanctioned credit lines
About the launch of Turbo UPI, Shashank Kumar, Co-founder and Managing Director of Razorpay, said, “With India’s consumers swiftly adopting UPI as a digital mode for its transaction needs, it is crucial for businesses to have access to a hassle-free, seamless payment experience like never before. Therefore, we wanted to build a solution that not only made the end-users’ UPI payment experience fast and frictionless but will also help businesses with a significant increase in success rate by 10 per cent for UPI transactions.”
“This new offering is in tandem with Razorpay’s commitment to take on the challenges of payments head-on that businesses face in their day-to-day operations. By providing a simplified and seamless payments experience, we believe we are enabling businesses to grow and thrive in a rapidly evolving digital landscape,” he added.
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