1. UPI

2. India’s current population
1.35 Billion
Smartphone users in India by the end of 2017
291.6 Million
How many adult bank account holders in India(2017)
Around 1 Billion phone users
Bank Accounts survey by the World Bank
Risen from 53% in 2017 to 80%
80%

3. UPI is built over the IMPS infrastructure
What is UPI?
Unified Payments Interface (UPI) is an instant payment system developed by NPCI
National Payments Corporation of India (NPCI) is the umbrella organization for all retail payment systems in India
NPCI Launched RuPay & IMPS
IMPS (Immediate Payment Service) is used to transfers funds instantly between bank accounts
UPI is built over the IMPS infrastructure

4. What makes UPI different?
Open Source
Instant
Secure
Cheap
Open source APIs
Partner with the PSPs (Banks) to get their SDKs
No need to add payee & beneficiaries
Single click authentication & share only vpa
0.5 rupee charge instead of rupee for IMPS
Available 24x7 & a single app for all banks
Availability & Utility

5. Terminologies PSP VPA/Global Address Push/ Pull Single Click 2FA
PSP (Payment service provider) Bank built PSP – Baroda pay, Standard Chartered/ Non Bank PSP – BHIM, Tez. Create VPAs in the backend
VPA (Virtual Payment Address) Resolved by PSPs, using Address Translation handle/ eliminates the use of sharing info like account number/ Global address - Resolved by NPCI, Aadhaar Number & Mobile handle
Push – pay/ Pull – collect financial transactions/ Non financial transactions like generate pin, check balance etc
Mobile is first factor which receives the OTP and MPIN is the second factor

6. Core APIs ReqPay RespPay ReqAuthDetails RespAuthDetails
Iinitiating & Processing the transaction
RespPay
Sending back the response of transaction initiated through ReqPay
ReqAuthDetails
Translate PSP address and obtain appropriate authorization details
In total there are 19 Apis provided by UPI
Divided into Core(4) & Meta APIs (15)
List psp, list account, check transaction status, Request confirmation
RespAuthDetails
Sending back the response of transaction initiated through ReqAuthDetails

7. PAY Remitter Bank Payee PSP Unified Payments Interface Payer PSP4
ReqPay debit
RespPay debit 5
ReqAuthDetails 2
Payee
PSP
ReqPay 1
RespAuthDetails 3
Unified
Payments
Interface
Payer PSP
RespPay 8
ReqTxnConfirmation 9 10
RespTxnConfirmation A B
Acquiring Channel
(Mobile App/E-Com)
ReqPay credit 6
RespPay credit 7
Financial
Non-Financial
Beneficiary
Bank

8. COLLECT Remitter Bank Payer PSP Payee PSP Unified Payments Interface4
ReqPay debit 5
RespPay debit D C
Payer PSP
ReqAuthDetails 2
Payee
PSP
ReqPay 1
RespAuthDetails 3
Unified
Payments
Interface
RespPay 8
ReqTxnConfirmation 9
RespTxnConfirmation 10 A B
ReqPay credit 6
RespPay credit 7
Financial
Acquiring Channel
(Mobile App/E-Com)
Non-Financial
Beneficiary
Bank

9. Let’s talk about security
Message communication between PSPs and UPI are in XML format over HTTPS and all the messages are digitally signed
Private data in the transaction message are over HTTPS on network, Which are encrypted before storing in DB
In case of mismatch in the checksum used, the process gets failed & an high level alert must be generated
IPs for PSPs and other systems are whitelisted at the firewall level in order to block messages from all non-authenticated sources

10. No. of banks live on UPI 114 45,845.64 235 Million
Transaction Amount (Rs. In Cr.) in July
45,845.64
Total Transactions in July
Transaction amount doubled from the month of Feb 18 (19,126.2)
235 Million

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