This interface helps the banks implement a payments infrastructure that allows straight through processing, monitoring and controlled payments. It enables to move away from the silo approach in a controlled manner to significantly reduce time-to-market, migration risk and maintenance costs whilst providing a future proof, component based payment infrastructure. The solution is built entirely on a Service Oriented Architecture (SOA) with various interfacing adapters supporting SWIFT, ISO 8583, NEFT/NGRTGS, ISO 20022, NDC/D912 and other industry standards.
Unified Payments Interface (UPI) is an initiative by NPCI to simplify and provide a single interface across all systems in a bid to consolidate and integrate multiple systems with varying service levels in to a uniform and standard business process for all retail payment systems. UPI is aimed at providing a unified and an expandable platform that is secure, real time, adaptable to current scenario and can be monitored. InfrasoftTech has taken the lead in developing the UPI solution and is happy to offer such a platform to facilitate the next generation of online immediate payments, providing strong end to end security and data protection, with the simplicity of transfer at a click using a single identifier - Aadhaar number or Mobile number or a Virtual payments address - without entering any bank account information.
Bill payment is a major component of the retail payment transactions and is characterized by the presence of large number of billers, who provide a variety of payment options to their customers. NPCI identified this as a need for an integrated bill payment system in the country to offer interoperable and accessible bill payment services to customers through a network of agents, allowing multiple payment modes and provide instant confirmation of payments and thus launched Bharat Bill Pay System (BBPS) – a tiered structure for operating the bill payment system within India.
InfrasoftTech’s interface for BBPS will be compliant with NPCI standards and the interfaces for cash, cards, wallets, Internet banking, IMPS, NEFT will be supported. The interface can handle bill payments through different delivery channels, including self-service, assisted, electronic and manual modes and work in Offline as well as Online modes and have MIS reporting module thus enabling your institution to be a fully functional BBPOU.