August 14th 2024.
Swiggy, the popular online food delivery platform, has recently launched a new feature called 'Swiggy UPI'. This feature integrates with the National Payments Corporation of India's digital payments solution, making the in-app experience for customers even faster.
According to a statement released by Swiggy, users can now complete UPI transactions without having to leave the app. This means that the payment process, which used to take five steps, has now been reduced to just one step. Anurag Panganamamula, the Head of Revenue and Growth at Swiggy, believes that this feature aligns with Swiggy's mission of providing unparalleled convenience to its customers. UPI has become one of the most preferred payment methods and Swiggy wants to make sure that its customers have a seamless experience while using it.
To make this possible, Swiggy has partnered with Juspay, a leading payments technology company. Their HyperUPI Plugin powers this new feature and eliminates the need for customers to be redirected to third-party UPI apps. This is a significant improvement as it not only saves time but also provides a more secure transaction experience.
In April this year, Finance Minister Nirmala Sitharaman highlighted the astonishing number of 131 billion UPI transactions in India. With UPI gaining more and more popularity, the National Payments Corporation of India is encouraging more entities to integrate UPI services into their platforms. Swiggy's decision to integrate UPI into their app is a step in this direction.
The Swiggy UPI feature boasts a simplified and delightful user experience. It reduces the transaction time from over 15 seconds to just 5 seconds by eliminating the redirection to third-party apps. Customers can easily set up their bank accounts by going to the payment page on the app and selecting Swiggy UPI. Once this one-time setup is complete, they only need to enter their UPI PIN for every transaction, making it much quicker and hassle-free.
Moreover, Swiggy's in-house plug-in experience provides real-time updates to customers about any issues that may arise during the payment process. This includes insufficient funds, incorrect credentials, or technical issues. This not only keeps customers informed but also allows them to take immediate action and complete their payments successfully.
The popularity of UPI-based transactions has been on the rise, with a significant surge in July. The total transaction count for UPI went up by almost 4% to 14.44 billion, with a total value of Rs 20.64 lakh crore. This is a clear indication of the growing preference for UPI as a payment method in India.
Swiggy's integration of UPI into their app is a welcome move for its customers. With a faster and more convenient payment process, Swiggy UPI is set to make ordering food online an even more seamless experience.
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