RING Digital had collaborated with National Payments Corporation of India (NPCI)
RING Digital: With the objective to implement UPI Plug-in features , NPCI had collaborated with RING Digital which will enhance the use with a Scan and Pay option, like premium card services like BHIM App, thus attracting new customers who prefer to use UPI for payments.
RING Digital:
RING Digital: Explained simply
RING is determined to provide friends to friend connectivity to all payment options while collaborating with the Indian government through signing the contact with NPCI . Aside of this, RING is for merchants who had provided the option to attend all online transactions from the customer through a single QR scanning , where they through the simple QR scanning ( as photo ) can achieve payment within 5 min.
RING Digital: Conclusion
Bhim app had made online transactions easy for each of the Indians, and this collaboration will enable the government to attach more customers for their UPI payment, while RING is hoping to expand their digital footprints in government.
What is the role of NPCI in digital payments?
The National Payments Corporation of India (NPCI) plays a crucial role in facilitating digital payments in India. It is a non-profit organization that was established in 2008 with the support of the Reserve Bank of India (RBI) and the Indian Banks’ Association (IBA)
What are the NPCI guidelines governing UPI payments?
As of 1 April 2023, the National Payments Corporation of India (NPCI) has released a circular regarding UPI charges. In the circular, NPCI has recommended an interchange fee of 1.1 percent on UPI transactions above Rs 2000 that are conducted using wallets, cards, or other prepaid payment instruments (PPIs).
