In a groundbreaking collaboration, Razorpay and Airtel Payments Bank have unveiled the UPI Switch, a cutting-edge cloud-based infrastructure designed to revolutionize the landscape of digital payments. This innovative product promises to enhance success rates by 4-5% and handle an impressive 10,000 transactions per second (TPS), offering businesses unprecedented efficiency and scalability.
Empowering Businesses with Enhanced UPI Access
The UPI Switch by Razorpay is set to provide businesses with 5X faster access to UPI innovations, catering to the growing demand for seamless and efficient payment solutions in India’s digital economy.
Addressing Challenges in UPI Infrastructure
Recognizing the limitations of existing UPI infrastructure, Razorpay’s UPI Switch aims to overcome challenges related to customization, scalability, and performance. By offering accelerated dispute resolution, instant refunds, and a holistic infrastructure solution, it aims to elevate the transaction experience for both businesses and consumers.
Strategic Vision for the Future of Payments
Khilan Haria, Head of Payments Product at Razorpay, emphasizes the strategic significance of Razorpay’s foray into UPI Infrastructure. With latency below 100 milliseconds and tailored features to suit diverse business needs, the UPI Switch promises to set new standards in payment infrastructure.
Airtel Payments Bank’s Commitment to Seamless Transactions
Ganesh Ananthanarayanan, Chief Operating Officer of Airtel Payments Bank, highlights the partnership’s commitment to providing customers with a seamless, secure, and scalable payment experience. By integrating with Razorpay’s UPI Switch, Airtel Payments Bank aims to elevate business payments and contribute to India’s digital transformation journey.