BankBiz UPI/IMPS
Ethereal Informatics (P) Ltd offers the Unified Payments Interface (UPI) — a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing, and merchant payments into one unified platform. It also caters to "Peer to Peer" collect requests which can be scheduled and paid as per requirement and convenience.
Mobile-First, Customisable Design
Developed to embrace the smartphone boom in India and customers shifting to digital and mobile-based solutions, the mobile phone is defined as the primary device for payment authorization. This transforms the acquiring infrastructure requirements to make them simple, low-cost, and universal — accessible to every bank customer regardless of device capability.
Push and Pull Payments
Payments can be initiated by either the sender (payer) or the receiver (payee), enabling innovative use-cases across retail, merchant, government, and peer-to-peer segments. This dual-direction payment architecture makes BankBiz UPI ideal for a wide range of banking scenarios including bill payments, fund transfers, and merchant collections.
Available on Feature Phones & Voice-Based Payments
UPI functionality enables feature phone and voice-based payments. A user does not need to have a smartphone or internet connectivity to make a UPI payment — making digital banking genuinely inclusive and reaching the last-mile customer in rural and semi-urban areas served by cooperative banks.
Key Benefits
- Single mobile application to manage multiple bank accounts
- Instant 24x7 real-time fund transfers using UPI ID, mobile number, or QR code
- Peer-to-peer and peer-to-merchant payments from a single interface
- Scheduled collect requests for recurring payments and dues collection
- Works on all device types including feature phones without internet
- Fully integrated with CBS for real-time balance updates and transaction records
- RBI and NPCI compliant with complete audit trail and dispute management