UPI is a Classical API Use Case

UPI has created payment revolution in the country, by enabling P2P and Merchant Payments through Mobile Apps. This has circumvented the requirement of a separate layer of integration across banks and has dented the need for mobile wallet. Thanks to UPI, now every savings accounts is a wallet.

This entire platform has been created as a secured API infrastructure on top of current banking platforms, with NPCI acting as an enabler for standardisation and settlement.

There are many bankers looking at real use cases of API Banking. I suggest a review of UPI use case would help them in understanding the power of API. In future API Banking would be prevalent across entire value chain, from payments to lending to trade finance. Time to think beyond mobile banking, internet banking, portal…

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