 "Swiggy rolls out in-app UPI feature for faster payments: How to activate")
Online food ordering and delivery platform Swiggy on Wednesday rolled out its newly integrated Unified Payments Interface or UPI Plug-in service powered by the National Payments Corporation of India’s (NPCI) and Juspay, allowing customers to make faster payments directly within the application.
Branded as Swiggy UPI, the feature aims to cut the transaction time from over 15 seconds to just 5 seconds.
On the development, Swiggy’s Head of Revenue and Growth, Anurag Panganamamula, told a news agency that the feature aims to provide “unparalleled convenience to consumers” by simplifying the “transaction process and reducing payment failures.”
Users can try out the new feature by opening the Swiggy mobile app. Once in, they have to visit the cart, where they will find the payment options. Among the usual methods, such as bank-linked UPI accounts and credit or debit cards, there will be an option to ‘Try Swiggy UPI’.
To activate Swiggy UPI, users can select this option. They will then receive an SMS on their registered mobile number to verify their account and link their bank details. Once users link their bank details with the Swiggy UPI service, they will be able to use their UPI PIN for future transactions.
UPI payment feature viral in India
Last year, rival platform Zomato also launched its in-house UPI service to improve customer experience.
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UPI is India’s flagship payment system and has become one of the most preferred payment methods with a whopping 14.44 billion transactions recorded in July, according to data shared by the NPCI on August 1.
In July, the transaction values saw a 35 per cent year-on-year increase, amounting to Rs 20.64 trillion. The average daily transaction stood at 466 million worth more than Rs 66,000 crore. The UPI transactions had breached the 100 billion mark for the first time in the financial year 2023-24.