Razorpay becomes first payment gateway to go live on BHIM Vega’s UPI plugin, enabling seamless in-app payments for businesses
Razorpay has partnered with NPCI BHIM Services Limited (NBSL), a wholly owned subsidiary of the National Payments Corporation of India (NPCI), and the banking partner Axis Bank to introduce Razorpay Turbo UPI plugin on BHIM Vega. BHIM Vega is an advanced UPI payment plugin built on the BHIM platform that offers a seamless in-app payment solution for businesses. With this launch, BHIM Vega – Razorpay’s Partner Businesses can now accept in-app payments, and end-customers can complete payments instantly within the app without switching to third-party apps, reducing friction in online transactions and delivering a high-speed payment experience.
Opportunities in evolving UPI plugin technology
While UPI plugins have already empowered businesses to create customer loyalty and reduce reliance on third-party providers, there are key opportunities to drive an even greater impact.
– Streamlining end-user onboarding can unblock broader adoption, making UPI plugins more accessible and user-friendly for a wider audience
– Additionally, diversifying banking partnerships can reduce dependency on a single banking partner, improving success rates and ensuring greater reliability and availability
Together with BHIM, Razorpay will enhance onboarding and transaction success rates, providing the most technologically advanced plugin solution in the market.
What this means for businesses:
❖ Smoother onboarding, faster payment experience, happier Customers: By integrating with BHIM, Razorpay’s Turbo UPI Plugin will significantly streamline the onboarding journey by reducing steps for users and eliminating all manual entry.
❖ Optimised payment routing, higher success rates: Bhim Vega increases payment success by allowing businesses to route payments through multiple banks. If one bank fails, others ensure the transaction goes through, making payments more reliable.
Harshil Mathur, CEO & Co-Founder of Razorpay, expressed his excitement about this partnership and the millions of businesses it will create frictionless payments for, saying, “We’re ecstatic to partner with BHIM and yet again bring this innovation to market first. At
Razorpay, we’re committed to constantly innovating and delivering cutting-edge payment solutions that help businesses thrive in the digital age. By leveraging BHIM’s powerful infrastructure, we are creating a faster, more reliable, and seamless payment experience for merchants and customers alike. Razorpay has consistently been at the forefront of UPI innovation since 2017, solving real payment challenges for businesses. Our partnership with BHIM to integrate Turbo UPI with BHIM Vega is a game-changer in this aspect. It removes one of the biggest pain points in UPI payments—redirections—allowing customers to complete transactions instantly within the app. This means fewer drop-offs, higher success rates, and a truly frictionless experience. With BHIM’s vast user base and direct NPCI connectivity, we’re ensuring businesses get the most reliable and high-speed UPI solution in the market today.”
Ms. Lalitha Nataraj, Managing Director and CEO of NPCI BHIM Services Limited, said, “We are happy to partner with Razorpay on this innovative initiative. BHIM Vega on Razorpay’s UPI Plugin technology is a significant step towards simplifying digital transactions for millions. This collaboration will enhance user experience and accelerate UPI adoption in the country. As UPI evolves, BHIM remains committed to driving financial inclusion, ensuring digital payments reach the last mile.”
BHIM Vega on Razorpay Turbo UPI represents a significant leap forward in the evolution of UPI plugin technology. The fintech giant is confident that this innovation will empower businesses to offer a more seamless and reliable payment experience, ultimately driving growth and customer satisfaction.
