Login Subscribe
 

Login

  Username
  Password
    Remember Me
   
 

Not a subscriber/registered visitor?

The Asian Banker website offers registered readers and subscribers a wide range of valuable research and analysis on the financial services industry.

All visitors must register to gain access. Access to selected news, research and our regular e-newsletters is free for up to 5 days from the time they are posted. Detailed research content and archieves are accessible only to paying subscribers.

If you wish to review our data subscription packages for full access to all data and research, please find the subscription options here.
   

Press Release
Published March 08, 2018
View complete press releases list

Axis Bank set to partner with WhatsApp for UPI

Date: March 08, 2018
Categories: fi, Financial Technology, Mobile banking, OutsourcingPartnership, Payments, Technology, technology, Transaction Banking
Keywords: Axis Bank, Whatsapp, ICICI


Stressing that the fintech era is all about partnering, third largest private sector lender Axis Bank said it will "soon" be able to process payments over the popular chatting application- WhatsApp.

"The narrative from the fintech side has changed from being competitors to banks to collaborators to banks.

Whether it is Axis powers Google tez for UPI or we will soon power WhatsApp for UPI," its executive director and head of retail banking, Rajiv Anand, said at an event here.

It can be noted that the Facebook-owned app is already in the test phase of its payments application, where it is using the Unified Payment Interface for processing payments.

Operators like WhatsApp or Google are only the front-end, through which transactions are carried out, but they need to have tie-ups with banks at the backend for carrying out fund transfers.

WhatsApp has tied up with ICICI Bank to launch its payment service last month.

Re-disseminated by The Asian Banker from NewIndianExpress