Thursday, 1 December 2016

Cashless Economy, Replace Cash on Delivery by simple UPI apps

In the recent address to the nation, PM Modi has shown his vision for a cashless India economy. As we think of cashless, two technologies comes to mind - UPI and payment wallets.
Let’s understand UPI and how it can replace the existing CoD (Cash on delivery) payment. 

What is UPI?
Unified Payments Interface (UPI) is a payment system that allows people to transfer money without giving banking details like card number, IFCI code etc. All you need is a virtual identity number, like an ADHAR number for banking transaction, it can be (abhay123@icicibank). 
How to create a Virtual identity number?
  •  Download the UPI application of your bank in your mobile phones
  • Fill your bank details.
  • The bank will create a Virtual Id for your account,  using the virtual id, now you can do any payment.

Usage in ecommerce?
In India, cash on delivery is one of the most preferred method of payment and according to business insider nearly 83% of consumers prefer CoD for online purchase.
With UPI, customers can make payment to ecommerce companies using only a missed call and a sms reply. It doesn’t need any app or internet connect on mobile phone.
Getting your missed call numbers is also very easy - Register on a get a missed call account.
How can a payment be processed?

  • After receiving the goods, customer gives a missed call to a number
  • Missed call platform triggers a payment message to the customer and requests customer to share his virtual id (say:
  •  Customer replies to the message by appending his virtual id
  • Customer gets verification message from Bank
  •  Customer authenticates the payment
  •  Payment is done

As the UPI  layer works on IMPS, all the payment happens in real time is available 24x7.
The above method is just one way to make payments with UPI and a telephony platform, there could be numerous ways to further build alternate solutions.

Ozonetel communication platform(, can be used for missed call and transactional  SMS Service.
About Ozonetel: Ozonetel is a pioneer of  Cloud Telephony solutions in India. 

Many companies is using, kookoo for developing communications apps

For more, please visit us over the web at or just click here for a free demo.

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