Tata Digital Begins Testing UPI 08 Payments In Closed User Group

Tata Digital has started testing online payments through the Unified Payments Interface (UPI) on its ‘super app’ Tata Neu. The test is being conducted with a closed user group in partnership with ICICI Bank, sources briefed on the matter said. Tata Digital is set to launch the super app for all consumers on April 7th.

Report indicated on March 16th that the company was working with ICICI Bank and had sought clearance from the National Payments Corporation of India (NPCI) to make its UPI debut. Tata Neu is now listed as a third-party UPI app on NPCI’s website. “They (Tata Neu) have begun testing in a (closed group). This is part of the process before opening it to all users”, a person aware of the matter said.

On UPI payments, it faces competition from the likes of PhonePe, Google Pay, Amazon Pay, Paytm, Fave and WhatsApp Pay. Joining the UPI network is a natural extension of the Tata Group’s ambitious digital commerce play, as it can help improve the experience of shopping online. Amazon India also has its own UPI service through which it offers cash back and other incentives. An email sent to Tata Digital didn’t immediately elicit a response.

Joining the upi network is a natural extension of the tata group’s ambitious digital commerce play, as it can help improve the experience of shopping online

In March 2022 there were 5.4 billion UPI transactions in total, according to data from NPCI, up nearly 20 percent month-on-month. In the financial year 2021-22, payments worth $1.09 trillion were processed through UPI. UPI apps dealing with large transaction volumes usually work with multiple banks to share the load. For instance, GooglePay offers UPI through the State Bank of India, HDFC Bank and ICICI Bank.