Hike, the WhatsApp rivalry in India has taken a great step to accelerate digital payments in the country by partnering with Yes Bank to offer payment facilities through Unified Payments Interface (UPI).
Earlier, True caller had partnered with ICICI Bank for UPI facilities, Yes Bank had partnered with Flipkart’s PhonePe.
Yes Bank is accountable for about 35% of all the UPI transactions.
Hike – Yes Bank partnership will be playing a great role in person-to-person and person-to-merchant payments through the UPI services.
In order to increase the UPI usage in the country, Yes Bank is onboarding merchants through both the online and offline channels and has already on-boarded 10,000 merchants and about 20 million downloads of merchant-partnered apps.
