UPI payments has received a new partner in the form of PVR Cinemas. Moviegoers can now watch their favorite films at PVR by going completely cashless using the UPI application on their smartphones. This will be applicable in all 122 locations of PVR across India.
UPI or Unified Payment Interface brings together banks and allows users to make payments for a variety of services using a simple smartphone app. While there are several online wallet apps available in the market today, the addition of an app like UPI directly from the banks will offer hassle free financial transactions.
Given that the UPI was set up by the National Payment Corporation of India or NPCI in partnership with Indian Banks Association and the RBI, there’s bound to be more traction for this particular payment method compared to third party wallet services.
Kamal Gianchandani, Chief of Strategy at PVR said “Anyone with a smartphone and a bank account will be able to benefit from UPI for transacting money online. This is a major change for online commerce as UPI will allow us to reduce transaction costs and create a faster checkout experience.”
While the UPI apps are available for Android smartphones, iPhones are yet to get these applications from banks. But banks have promised to launch these apps for UPI over the coming weeks.