What is UPI?
Unified Payments Interface (UPI) is a next generation online payment solution launched by National Payments Corporation of India (NPCI), the umbrella organisation for all retail payments in India, to promote cashless transactions in support of the Digital India initiatives led by Indian Prime Minister Narendra Modi.
UPI will transform the way people make payments today by empowering users to perform instant push and pull transactions from multiple accounts with their smartphones and a single identifier – such as mobile number or virtual payments address – without entering any bank account information. UPI is one of the most advanced methods of all the digital payment initiatives currently in use.
Meeting UPI Standards with Thales eSecurity
Hardware Security Modules (HSM's) from Thales eSecurity provide a secure environment for cryptographic processing, key protection, and key management that meet widely established and emerging standards while also maintaining high levels of operational efficiency.
Thales payShield 9000 HSM has newly developed firmware that supports UPI – meaning new customers can achieve instant compliance and existing customers can utilize their existing hardware with a simple upgrade; saving the cost of procuring new hardware and leveraging their investment in the world’s most trusted payment HSM solution, whilst continuing to secure transactions seamlessly.