Thank you — DMart — for embracing UPI
Read my previous posts for a brief background @ https://innovationinbanking.blogspot.com/search/label/%23dmart
Link to my blog post @ https://innovationinbanking.blogspot.com/2020/04/thank-you-dmart-for-embracing-upi.html
By now, the majority of Saving Bank Account Holders in India have done at least 1 UPI transaction either P2P (Person 2 Person) or P2M (Person 2 Merchant).
They have understood the joy of Safe ePayments. Of course, like every process, few aberrations are there is UPI and money is diverted off. This does not lessen the UPI benefits gained to the digital transactions channel.
In simple terms, Unified Payments Interface (UPI) is a payment method that allows one to instantly transfer money to a bank account, either a person’s account or a merchant account
UPI ID is a virtual payment address (VPA) that uniquely identifies a bank account. Either of a person or a merchant. A UPI ID format is like an email ID: with the sign “@” in the middle. For example, a UPI ID could be “receiver’s_name@bank_name” or phone_number@bank_name.
Payment can be made to a UPI VPA by inputting the person’s/merchant’s or scanning a QR Code containing the VPA in a UPI Payment App.
Bank account holders of 148 + banks in India can transact on the UPI Channel. Apart from Bank’s UPI Apps, there are 30+ 3rd party UPI Apps. PHONEPE, BHARATPE, GOOGLEPAY, WHATSAPP are popular 3rd party UPI Apps i.e all these Apps support payments via UPI.
The simplicity of UPI has evoked interest from countries around the world.
When sending with a UPI ID, you only need to have your receiver’s UPI ID. You do not need to ask receivers for their account number, account type, bank name, or IFS code.
To cater to DMart customers during the lockdown, as per this Poster, DMart Ready Trucks will be parked in societies/apartment complexes, to enable customers to buy groceries etc from DMart Ready Truck.
Detials can be read @ https://www.whatshot.in/pune/dmart-will-set-up-stocked-trucks-with-essentials-outside-societies-in-pune-c-21225
My interest solely is in this line i.e “ We accept Card/UPI Payment Only”.
Nothing more, nothing less.
It is wonderful to know, DMart has finally embraced UPI.