How UPI

Has Changing Indian Economy

Basic Details

Brand Name -  

UPI

Parent Company -

NPCI

Company Type -

Government

Founders -

Ncpi Team

Headquarters -

Mumbai, India

Area Served -

India

Founded Year -

2016

Company Value -

Non-Profit

About UPI

UPI is an Instant Realtime Payment Sysytem Developed By NCPI 

UPI offers the Services Like Bank to Bank (peer to peer) & (peer to merchand) Scan and Send to merchand

It Is an open Source API & Regulated by RBI And Currently it has 358 Banks Connected in this platform.

It is a Part of green Initiative to reduce the Useage of papers

Basic Details

Brand Name -  

UPI

Parent Company -

NPCI

Company Type -

Government

Founders -

Ncpi Team

Headquarters -

Mumbai, India

Area Served -

India

Founded Year -

2016

Company Value -

Non-Profit

About UPI

UPI is an Instant Realtime Payment Sysytem Developed By NCPI 

UPI offers the Services Like Bank to Bank (peer to peer) & (peer to merchand) Scan and Send to merchand

It Is an open Source API & Regulated by RBI And Currently it has 358 Banks Connected in this platform.

It is a Part of green Initiative to reduce the Useage of papers

What Problem Does UPI Solves?

UPI Provides a solution for Instant money transfer system this system actually provides UPI Id and QR code which is actally linked to Bank account and Easy to Remember

Key users

User Info

Age : 18+
Location : India
Gender : No restrictions

Categories

People who hold a valid indian Bank Account and has to access to register through upi

Painpoints

Remenbering the Acoount Holder Intermation

Charges & Time taken to tranfer money

No Confirmation of transfer of money

Safe & Secure means of transfer

Goals

Tranfer Money Instantly with just single upi (easy to remenber) or by QR code

24/7 Availability & confirmation of amount Transfered 

Safe & Secure means of amount transfer and quick

 

Vision Statement

In 2012, RBI Released a Vision Statement for the period of '4 - Years' Development of simple, secure & interpretable solution has to developed

Vision Statement

In 2012, RBI Released a Vision Statement for the period of '4 - Years' Development of simple, secure & interpretable solution has to developed

Initial Stage

In April 2016 RBI Released the UPI Payment system and its a open source platform, Upi was working good at a beta testing and when the scalability was increased the failure rate also was increased and monitoring the Error an optimized the service for failure rate started to decrease.

Initial Stage

In April 2016 RBI Released the UPI Payment system and its a open source platform, Upi was working good at a beta testing and when the scalability was increased the failure rate also was increased and monitoring the Error an optimized the service for failure rate started to decrease.

Present Stage

Presently UPI has a 365 Banks Live on this platform and on Oct 2022 UPI has crosses 10 lack Crores Valued Transactions were made & Also UPI solved the problem for Feature phone works on USSD based system and no internet is required

Present Stage

Presently UPI has a 365 Banks Live on this platform and on Oct 2022 UPI has crosses 10 lack Crores Valued Transactions were made & Also UPI solved the problem for Feature phone works on USSD based system and no internet is required

Conclusion

Before Launching the Products Conducting the Market Research & Target Audience  Is More important.

Finding The Unmet Needs of the Customer And Providing the Unique Solution is More Imporant

By Standing out of Crowd Used the Innovative Marketing Strategy