Indus OS has declared collaboration with YES BANK to roll out the first OS-incorporated UPI payment platform. Basically, Indus OS manufactures Android-based phones that are tailored for Indian customers, whereas YES BANK is the fourth biggest private sector bank in India. Combined, they propose to introduce the first-of-its-kind structure for the UPI platform, for which no additional application is needed to be downloaded by the user.
According to the company, around 35% of all UPI transactions are done through YES Bank in India. About 10,000 offline and online traders are being supported by the UPI payments solutions of YES Bank, and there have been about 5 Million YES BANK supported Virtual Payment Addresses and around 20 Million downloads of such business-partnered apps.
OS-incorporated UPI payment platform will allow a thoughtful and a more context-sensitive user experience. For illustration:
- A“rupee”symbol will be present on the Indus keyboard by which users can start UPI transactions within the chatting/messaging app. They can transfer money directly to the individual they are conversing with by merely tapping the symbol. This will function on third-party messaging apps,including WhatsApp and on SMS.
- The OS level artificial intelligence will also recognize the intention of a user to make a payment, and it will recommend payments via UPI in the messaging app directly.
- Indus Contacts App:Any smartphone’s contacts app operating on Indus OS will permit users to transfer money to any one directly in their contact list.
The CEO and Co-founder of Indus OS, Rakesh Deshmukh, said, “Our collaboration with YES BANK, who has already made an achievement with its prevailing UPI framework, intends to further boost the present rate of growth of the UPI-based transactions. With the technological experience of Indus OSand banking expertise of YES BANK, the yield will certainly be a success and establish high standards in the digital banking space.”
The Chief Digital Officer of YES BANK, Ritesh Pai, said, “YES BANK stays devoted to the prospect of a ‘less-cash economy.’ We are continuously seeking methods to revolutionize digital solutions and products. As a forerunner in the UPI ecosystem, we are extremely enthusiastic to join hands with Indus OS, the only OS made for the Indian crowds, to make the entire UPI experience more relative. Incorporating UPI within the mobile OS will assist in producing numerous use cases for payments and shoot the acceptance of UPI in our country.”
Indus OS is functioning toward connecting both, the Aadhaar-authenticated OS and OS-integrated UPI payment platform to warrant a highly protected framework. This exclusive advance will further allow a simplified and trusted array of transactions for the users.