December 01, 2017
Tata Power Delhi Distribution launches Unified Payment Interface (UPI) in collaboration with YES BANK to promote Digital India programme
- Becomes the first utility in Delhi to provide the facility
- Consumer can now pay through UPI compliant apps such as BHIM and other bank apps
- Instant payment can be done by scanning the QR code printed on bills or direct insertion of Dynamic UPI ID (VPA)
- Flat cashback of Rs.50 on first bill payment per user
New Delhi: Further enhancing consumer convenience, Tata Power Delhi Distribution (Tata Power-DDL) has made live a new and easy payment mode for its consumers – Unified Payment Interface (UPI) in collaboration with YES Bank. Tata Power-DDL consumers can easily make payments through UPI by using their smartphones to scan the dynamic QR code printed on the bills, both physical and electronic, through UPI compliant apps, such as BHIM YES Pay, PhonePe, or any other UPI-compliant apps. Consumers can also make payments directly using UPI ID/VPA (Virtual Payment Address) which is TPDDLY<CA No.>@yesbankltd.
|Tata Power-DDL UPI Facility – Benefits galore!|
How to get it:
What is required for transaction:
UPI is a digital payment architecture rolled out by the National Payments Corporation of India (NPCI) using advanced digital payment features, with mobile phone as the main device. Consumers can simply download their preferred UPI-compliant app and register mobile device with their bank account to create a Unique UPI ID and UPI PIN, post which they can make transactions. UPI has a strong feature of seamless Single Click Payment with two-factor authentication. This means consumers can simply make the payments in minimal steps (by scanning the QR code on the bill or by entering the UPI ID mentioned above) while making the transactions more secure with UPI PIN.). Additionally, the usage of a UPI ID lends more security to the transactions, removing the need of sharing any banking credential such as name, account number, IFS code, etc. UPI is available 24X7 and ensures real-time credit, which leads to seamless bill payment experience for consumers.
By direct usage of VPA (Virtual Payment Address) / UPI ID, consumers do not need to remember any details and make payment just by keying in their electricity connection number and amount of electricity bill. The facility of making utility bill payment, directly using the dynamic VPA, is introduced first time in Delhi, by Tata Power-DDL and YES Bank.
As an introductory promotional plan of payment through UPI, YES Bank is also offering a flat cash back of Rs50 on the first electricity bill payment per user and same will be adjusted in the consumer’s future electricity bill of Tata Power-DDL.
Commenting on the introduction of UPI as an another digital payment mode for consumers, Praveer Sinha, CEO and MD, Tata Power-DDL, said, “Tata Power-DDL has a remarkable journey of developing a cashless consumer-friendly payment system in the utility space. The introduction of UPI-based payment solutions for our consumers is another step in the direction. Today, with a substantial percentage of payment received through online modes, we lead by example and contribute our bit towards the Digital India programme, which promises to transform India into a digitally empowered society, by focusing on digital literacy, digital resources and collaborative digital platforms.”
Commenting on the development, Ritesh Pai, chief digital officer, YES Bank said, “YES Bank, since inception, has been a pioneer in innovating digital technologies to ease financial transactions. We are pleased to partner with Tata Power-DDL to implement this unique QR code-based bill payment facility powered by our state-of-the-art UPI solution, offering a seamless and quick payment solution to the customers. We are happy that we have been able to identify various payment needs of consumers across the country and have built leadership in UPI, with a market share of 70 percent in merchant payments on the UPI platform.”