New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    Which online payments solution company has partnered

    with NPCI to offer the 'Credit Lines on UPI' feature?
    A Rapyd Correct Answer Incorrect Answer
    B PayU Correct Answer Incorrect Answer
    C ICICI Bank Correct Answer Incorrect Answer
    D HDFC Bank Correct Answer Incorrect Answer
    E PayPal Correct Answer Incorrect Answer

    Solution

    •     Online payments solution company PayU announced the acceptance of ‘Credit Lines on UPI’ feature on its platform, in collaboration with the National Payments Corporation of India (NPCI). •     The integration enables PayU’s merchants to accept digital payments via credit line. •     The enablement of pre-sanctioned credit lines by banks through UPI will empower businesses and consumers alike, fostering India’s financial inclusion agenda •     In August last year, PayU had reached an agreement with Rapyd, a fintech-as-a-service provider, to sell its Global Payments Organisation (GPO) for a total cash consideration of $610 million to enable PayU to focus on the large payments and fintech opportunity in India. Learn Along: About NPCI •     National Payments Corporation of India (NPCI), an umbrella organisation for operating retail payments and settlement systems in India, is an initiative of Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment & Settlement Infrastructure in India. •     Non Executive Chairman and Independent Director: Mr. Ajay Kumar Choudhary

    Practice Next

    Relevant for Exams: