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Hike, YES Bank partner to offer UPI payments

Hike, the Indian instant messaging service provider, is partnering with YES Bank to offer payment facilities to its 10 crore users through UPI. Kavin Bharti Mittal, CEO of Hike, said the partnership will make Hike Messenger the largest UPI-based platform in India. It will empower over 10 crore users to transact seamlessly on the UPI platform and accelerate the adoption of digital payments in the country, he added. According to Hike and YES Bank, this is the first time in India that a large mobile chat platform has embedded a payments solution in its app. This development will revolutionize the way P2P and P2M payments are done within the chat platform, including mobile top-ups, among others, a statement said. YES Bank already has similar partnership with Flipkart’s PhonePe to enable UPI payments through the latter’s app. The bank claims nearly 35% all UPI transactions in the country are done through it. The bank said that there have been over 20 million downloads of such merchant-partnered apps and over 5 million YES Bank-powered Virtual Payment Addresses (VPAs).

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