Bipin Preet Singh, founder and chief executive officer of MobiKwik payments app, had ordered cleaning services, before the lockdown was started. He thought to make payment via Unified Payments Interface (UPI). However, when he asked for the UPI ID, that term was new for the cleaning services person. He asked Singh to pay using the same app he uses.
With this incident, Singh realized that still there many people who don’t know about UPI. “The platform is supposed to be interoperable. But it was working like a closed ecosystem where many users didn’t know how to send or receive money on different payment apps,” said Singh. That’s when Singh decided to work on a solution.
Recently MobiKwik launched a new feature in UPI to make the transactions simple. Here’s how it works.
In this new feature, an individual has to use MobiKwik app just once initially to sign up and set up UPI on it. Now Whenever he or she needs to receive payment from someone via UPI, the users would need to open a browser and type in mpay.me/<mobile number>. Instantly, a link will be generated on the website, which will be mpay.me/9XXXXXXXX.
To receive payment, the user can share the link via email, messenger, or text message. The payee has to click on the link and a pop-up will appear which will ask to select one of the UPI apps installed in the phone to make payments.
Known as the payment link service, this feature can make it much easier now for the user to do the transactions, doesn’t matter if he or she is not aware of the UPI features. “With the link, the user has its own payment gateway not restricted to any app,” said Singh.
According to Singh, there will more enhancements that the company will add to this feature. “As of now, the link has the registered mobile number of the user. We would allow customization of the link. Instead of the number, it can be anything else that the person would prefer. Like we see verified profile on social media, we could also do the same so that users know that the request is from a genuine source,” said Singh.