 "UPI, UPI payments, UPI payment")
GenWise has announced the launch of UPI payments on its app for senior citizens.
This is the industry’s first-ever introduction of UPI for elders, offering a simple user interface, enhanced security, and cyber fraud awareness.
GenWise UPI has been developed in collaboration with Axis Bank, which is acting as the sponsor bank for facilitating transactions.
Over the years, UPI has become an integral part of everyday transactions, with over 400 million unique users. In October alone, the platform processed over 16.5 billion transactions.
However, over 250 million Indian elders have remained less connected to this transformation due to fear of the unknown and the complex interfaces of other apps.
With over 65 per cent smartphone penetration among Indian elders, the potential for UPI adoption in this segment is immense.
GenWise UPI will enable India’s elders to scan and make payments while shopping, transfer money to friends and family, and pay utility bills, among other transactions.
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