Sticpay, a global leader in e-wallet services and payment gateways, has integrated with UPI (Unified Payments Interface), India’s renowned mobile-based fast payment system. This integration empowers UPI’s 300 million users to conduct both domestic and international money transfers with unprecedented speed, affordability, and security.
A New Era for Digital Payments
With this groundbreaking integration, UPI users can now manage their payments seamlessly through Sticpay’s platform. This development eliminates the need for traditional banking infrastructure, allowing for quick and secure transactions. For Sticpay users in India, this means greater accessibility to funds and the ability to leverage UPI’s extensive reach and convenience.
Benefits to the Indian Market
The integration of Sticpay with UPI brings numerous benefits to the Indian market:
- Efficient Cross-Border Transactions: Indian users now have a cost-effective method to manage cross-border transactions. This is especially beneficial for India, which boasts the world’s largest overseas diaspora and the highest annual migration rates.
- Support for Local Businesses: As over 40% of payments in India are now digital, this integration provides local businesses with an additional digital payment option, enhancing customer choice and streamlining operations.
- Financial Inclusion: The integration supports the growing use of mobile services for financial transactions, benefiting the unbanked population. With around 130 million Indians lacking access to formal banking services, fintech solutions like Sticpay are driving new forms of financial inclusion, evidenced by the 114 billion digital financial transactions recorded last year.
Leadership Remarks
Sean Park, CEO of Sticpay, commented on the partnership: “Our integration with UPI, the global leader in instant payments, marks a significant new chapter in Sticpay’s growth story. India is the
world’s fastest growing market for digital transactions, with digital transactions having grown 90-fold in just a decade. Our mission in India is to further refine this ecosystem, ensuring Indian merchants and consumers have access to a modern financial ecosystem that meets their needs.”
Enhancing Financial Ecosystem
This integration is set to revolutionize digital payments in India, fostering a more inclusive and efficient financial ecosystem. By combining Sticpay’s global e-wallet capabilities with UPI’s robust domestic payment system, users are poised to experience unparalleled convenience and security in their financial transactions.
For more information, visit Sticpay and UPI.
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