2024-04-25 By Surbhi Chauhan UPI Payments

Razorpay Partners with Airtel Payments Bank to Introduce UPI Switch, Transforming Digital Transactions!

Razorpay, a premier payment gateway, has partnered with Airtel Payments Bank to unveil their ground-breaking UPI infrastructure, UPI Switch. This alliance assists in a new era of seamless, secure, and efficient transactions, setting new standards in digital payments.

Razorpay’s UPI Switch, a cloud-based solution, aims to boost transaction success rates on the Unified Payments Interface (UPI) platform by 4-5%, handling an impressive volume of up to 10,000 transfers per second. Prioritizing customer satisfaction, Razorpay’s UPI Switch excels in dispute resolution, resolving issues seven times faster within 24 hours, compared to the industry average of 7 days. It also sets a new benchmark by processing refunds instantly, ensuring a hassle-free experience for users.

Ganesh Ananthanarayanan, Chief Operating Officer of Airtel Payments Bank, expressed excitement about the partnership, emphasizing their commitment to providing customers with a seamless, secure, and scalable payment experience. The integration with Razorpay’s UPI Switch guarantees 99.99% uptime and enables over 10,000 transactions per second.

The UPI Switch platform serves as the central nerve system for routing and processing UPI transactions, akin to VISA's role in card payments. It ensures seamless data flow between banks and payment apps, enhancing reliability and security.

This initiative strengthens Razorpay’s position as a leader in digital payments innovation, with UPI Switch driving future advancements. From empowering existing offerings like Turbo UPI and TPAP solutions to catalyzing forthcoming innovations, Razorpay’s UPI Switch underscores the company’s dedication to revolutionizing digital transactions.