USP IN DATA PRIVACY AND SECURITY OF UPI NEPAL

1. Secured User and Merchant Data

• All UPI user's credentials including UPI-ID and PIN generated through Sub-Members are stored at the Bankside.
• All merchant's credentials including UPI-ID and PIN generated through Sub-Members are stored at the Bankside.

2. One Tap 2 Factor Authentication

• Factor-1: Device Fingerprinting using parameters such as IMEI number, Device-ID, etc.
• Factor-2: UPI-PIN stored at the Bank switch.

3. Virtual Private Address (VPA)
UPI Users don’t have to share their bank account details with the payee instead they can share the VPA
and receive funds. (eg. test@banktest)

4. Trust of 5 Billion Monthly Transaction

• 5 Billion Transactions on a monthly basis are happening without any problem in India.
• Same  system with same architecture.

 

USP IN CROSS-BORDER PAYMENT

1. India to Nepal Merchant Payments

• All UPI App users will be able to make payments to Nepali Merchants with UPI-QR.

2. India to Nepal P2P Payments

• All UPI App users will be able to send payments to Nepali UPI-ID.

3. Nepal to India Merchant Payments /P2P Payments

• All UPI App users will be enabled to make payment at any UPI –QR merchants or UPI-App user across India. (This is subject to approval from NRB to be taken by member banks being the custodian of the account.)