FSS to provide UPI solution for 6 banks

Financial Software & Systems Pvt. Ltd. (FSS), a Chennai-based payments technology and transaction processing company, has inked agreements with six banks to provide UPI (Unified Payment Interface) solution across the country on a hosted platform.


UPI facilitates easy and seamless person-to-person (P2P) and person-to-merchant (P2M) transactions for end-customers. Suresh Rajagopalan, President (Software Products), FSS, said UPI supported all transactions. Typically, it will see FSS develop custom-built UPI app for each bank. A bank customer can download this app in his/her mobile devise, register the account number and take a virtual address.


Unified Payment Interface (UPI):
The National Payments Corporation of India has launched the Unified Payment Interface (UPI) for the next generation online payments solution. Unified Payments Interface (UPI) will provide leverage trends such as increasing smartphone adoption and deeper penetration of mobile data. 

Extra info:
1. RBI Governor – Raghuram Rajan
2. National Payments Corporation of India – Mr. Balachandran M.
3. Deputy Governor of RBI –       
       1. SS Mundra
       2. H R Khan
       3. Urjit Patel
       4. R Gandhi
4. Financial Software & Systems Pvt. Ltd. (FSS)

So lets do:
1. Who is the Chairman of NPCI?
2. Expand NPCI,IBA,FSS and UPI?
3. __________ has launched the Unified Payment Interface (UPI) for the next generation online payments solution.
4. _____to provide UPI solution for 6 banks.


Source – The Hindu


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