The National Payments Corp. of India Ltd’s (NPCI) most ambitious project, unified payments interface (UPI) system is expected to bring about a significant shift in the way mobile banking transactions are conducted. Mobile banking has surged in India in recent months and the value of mobile banking transactions surged 82% over the same period last year.
Feegenie is in the complete support of the unified payment interface and, you can see here, how?
- Reduce need for e-wallets: UPI is set to allow you to make payments using your mobile phone as the primary device without the need for you to download an app to send or receive money. Same as UPI, Feegenie allows every end user to make a payment through multiple payment options like: paying through Website (www.feegenie.com ), Paying through link provided in the invoice (sent on the payer’s registered E-mail ID), Paying through Android App (Feegenie) or Paying through your institution’s website (linked with Feegenie).
- No need to disclose identity while making payment: In UPI,while making any payment, the end users need not to give their confidential information with the merchant like: Name, Bank A/c No. , OTP etc. The same way, Via Feegenie, while making any fee payment, You will be needed to enter the information from your end which cannot be viewed by the merchant and also FeeGenie is shielded with 2048bit RSA Public key based HTTPS (SSL) Connection, highest available till date to ensure the end to end safe transactions.
- Use services of any bank: UPI will make the payment system inter-operable. Hence, you will be able to use the services of any bank, even if you are not a customer. In the same way, Feegenie provides you a reliable option to pay through 44+ banks. A payer will be able to use the services of any bank, even if he is not a customer of that particular bank.
- One-click, two-factor authentication: And finally, UPI enables a two-factor authentication in one click. So far, for a two-factor authentication, you have to click multiple times. With UPI, you will be able to do it at one click. Similarly, for all fee payments made by end user, Feegenie ensure to be verified by 3D Security authentication before completion. A multi-tenancy system system is placed to keep every individual’s data safe and secure.