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Meanwhile, other companies that are actively looking at initiating UPI payments include Amazo, Google, Uber and Facebook itself.

Google is in advanced talks with NPCI to integrate Android Pay with UPI, and testing is already complete, if you go by NPCI's latest comment. The final approval now is for RBI to give, after which WhatsApp can quickly allow UPI on its app.

The Ken said, "WhatsApp first admitted to being interested in launching payments in February, when its co-founder Brian Acton visited India". Payment railroad is used to describe the pathways through which digital payments move which in the case of UPI is managed by NPCI.

Prime Minister Narendra Modi's government is aggressively promoting digital payments and new initiatives such as BHIM (Bharat Interface for Money) app.

Google announced the launch of Android Pay in March 2015. WhatsApp had been in talks with State Bank of India (SBI), Axis Bank, ICICI Bank, Punjab National Bank and more to fast track the process of integrating person-to-person (P2P) payment service on the app. Google and Whatsapp will join this league soon. Instead of having a separate app for different banks, UPI combines several banking features into one and enables seamless fund transfers, merchant payments, peer-to-peer collection requests and much more. Ola, Uber's arch rival in the ride-sharing market in India, had already integrated UPI in April.

An Uber spokesperson told Inc42, "We are now evaluating the possibilities around a comprehensive UPI integration and continuing to engage with the relevant stakeholders".

Overall digital transactions, which in many cases doubled after demonetisation, has corrected and is expected to attain a new normal of around 30-40% growth over transaction volumes previous year.

Each of the banks in the UPI can have their application; he said that fifty banks are segments of UPI and out of them. Including Truecaller, Phone, and Chiller, there are 16 such big fin-tech companies. The messaging service reportedly had about 200 million Monthly Active Users in India, according to an announcement earlier this year, which is a good number for a start. "UPI is the future of Indian payments and we are proud to be a partner in this monumental mission of the government to facilitate a digital payments led society". It is now supporting over 30 banks.

According to Hota, there are 50 banks who are members of UPI and out of them, 37 have developed their own UPI applications. This year, it is aiming to contribute about 11 Bn digital transactions.