Infibeam Avenues Ltd. Introduces Payment Acceptance Through The New UPI App Intent Flow For CCAvenue.com PG Merchants

With significant growth in UPI (Unified Payments Interface) transactions since its launch in April 2016 and a strong belief that UPI is the future of payments in India, CCAvenue.com has announced the availability of UPI payments through the App Intent flow via UPI supported Apps for its merchants. UPI App Intent processes payments on native mobile applications using existing UPI supported apps like Phonepe, BHIM, and Tez etc, installed on the customer’s phone offering a quick and seamless payment experience. It also avoids the need to use multiple apps (merchant, SMS, UPI app) while making payments.

Most of the UPI apps including BHIM, PhonePe, Tez, Whatsapp etc. and various UPI enabled bank apps have added support for the app intent flow.

According to the recent data published by the National Payments Corporation of India (NPCI), total number of UPI transactions in April 2018 has grown to 190.1M, i.e. around 27 times higher than in the same month last year. The amount transacted has increased by 12% to Rs. 27,021.9 crores, i.e. 12 times higher than in the corresponding month last year.

BENEFITS OF UPI APP INTENT:

·    Customers need not remember and enter VPA.

·    Customers don't have to handle push/SMS notifications anymore.

·  Customers no longer have to juggle 3 apps (merchant, SMS, UPI app) while doing a transaction.

· Improved payment process leads to higher conversion rate, decrease in abandoned carts, and shorter time to complete the payment.

·   Ease of making payments results in an optimal user experience for customers.

UPI Intent flow is currently supported only on Android devices. Not even a single line of extra code has to be written to add support for this! The existing web/mobile app integration automatically supports UPI Intent flow.

Infibeam web-based e-commerce solutions include SaaS based ERP platform with strong integrated back-office tools for building and managing online stores that include order and inventory management solution, warehousing and logistics solution and various web-based value-added services like data analytics, social media marketing, advertisement portals, domain registry services. 

Infibeam Avenues offers payment processing services through CCAvenue.com to over 70% of India's e-Merchants. CCAvenue is a PCI DSS 3.2 compliant payment gateway platform and is India's largest direct debit engine, which connects to more than 55+ Indian banks in real time and processes all types of Credit Cards, Debit Cards and Digital Wallets including UPI payments. ResAvenue.com Hospitality Solution and BillAvenue.com, India's fastest growing BBPS based bill payment engine are among other SaaS solutions launched by the company. 

The company’s web-services are used by over 400,000 merchants around the world. Infibeam Avenues and its consortium partners also manage, design, develop, implement, operate and maintain the Indian Government’s e-marketplace (GeM). 

Infibeam also owns and operates a multi-category and multi-channel (website, mobile app) online website under infibeam.com. It allows listing products from merchants and conducting purchase and sale online. For more information, please visit www.Infibeam.ooo

Mumbai, 5^thJuly 2018