Razorpay launches ‘Turbo UPI’: How is it different from regular UPI

Indian fintech startup, Razorpay has launched a new product called Turbo UPI. For this product, Razorpay has partnered with Axis Bank and the National Payments Council of India (NPCI). Turbo UPI claims to make UPI payments faster and reduce potential payment failures. The company will also allow merchants to integrate Turbo UPI at the payment gateway. This will eliminate the need for customers to go to third-party UPI payment apps and they can pay directly from their UPI-linked bank accounts within the merchant app. Razorpay also claims that this product will also help businesses to achieve nearly a 10% increase in the success rate of UPI payments. Turbo UPI also promises a 2-step UPI payment experience for end-users. This also claims to make the payment experience 5X faster.

Early adopters of Turbo UPI
Turbo UPI is still in the pilot stage.