It open’s some new avenues for the MSME, Startups, Corporates, NBFC’s and MFIs to accept payments in their bank accounts form different sources via UPI by setting up a Virtual Private Address (VPA).

Convenience: UPI transactions are known for their ease of use. Setting up a VPA provides a straightforward method for customers to make payments directly into a corporate account.

Versatility: Accepting payments via UPI allows businesses to receive funds from various sources, including individuals and other businesses, fostering flexibility in payment methods.

Security: UPI transactions typically come with robust security measures, ensuring that the payment process is safe for both the payer and the payee.

Reduced Transaction Costs: Depending on the pricing model, UPI transactions have lower fees compared to traditional payment methods, potentially saving businesses money on transaction costs.

Faster Settlements: UPI transactions often have quicker settlement times compared to other payment methods, providing businesses with faster access to their funds