Since UPI was first launched in 2016, it has grown to become not just India’s favourite payment method, but a way of life. In August 2023 alone, there were 10 billion UPI transactions. In the last financial year, UPI accounted for over 70% of all digital payments in the country. 

By 2030, UPI is projected to process over 2 billion daily transactions, making up more than 90% of all digital payments. UPI is also evolving into a platform that powers various payment methods, such as credit cards, prepaid wallets, credit lines, and mandates. We are heading into a future where UPI is not just a payment method but the default checkout. 

But, can the current infrastructure cope with the scale and complexity that this growth demands? 

We observed that while merchants, NPCI, banks, RBI and the Government of India have very high ambitions on what can be innovated on top of UPI and internationalizing it, the traditional technology that banks have may not be future-proof.  

In the realm of UPI payment processing, the UPI Switch forms the core, acting as the railroad between banks and NPCI. Think of it as the keystone of the UPI payment infrastructure, bearing the complex logic and processing payment volumes. To support the rising volumes of UPI  payments, banks are in need of a tech stack that can scale up quickly and provide reliable and seamless payment processing. Businesses, on the other hand, are seeking a steadfast ally who can swiftly bring the latest UPI innovations to market.  

Razorpay UPI 360

It is with this vision for India in mind that Razorpay is launching UPI 360, a cloud-first next-gen UPI infrastructure enabling banks to break free from the limitations of legacy tech stacks by reducing payment failures, powering scalable innovations and helping businesses take new UPI features to market super-fast. 

The Need for Innovation 

Despite its popularity as a payment method, banks and businesses today face several challenges in the UPI ecosystem:

  • New feature launches are delayed due to dependency on banks’ legacy tech service providers. Currently, every new NPCI innovation takes 12-18 months before seeing a launch.  
  • Current success rates are low, with new features such as Autopay only seeing figures of around 45-50% due to poor solution design by service providers. Unreliable infrastructure also leads to unscheduled downtimes leading to lower success rates. 
  • The On-Premise infrastructure dependency of the banks limits the timely scale-up needed by the UPI ecosystem. Any attempt towards this requires heavy investment from banks and is not instantaneous. 

Why banks should choose the Razorpay UPI 360 infra stack

Our ‘Made in India, Made for Innovation’ stack addresses all the problems banks face with legacy tech stacks.

Unmatched Agility

Deploy new UPI innovations within 8-12 weeks of NPCI circulars, enabling your merchants to stay ahead of the competition, and drive higher volumes to your stack.

Seamless Integration

  • Transition effortlessly from traditional on-premise systems to a modern cloud-first infrastructure.
  • Reduce technical declines and enhance operational efficiency with the UPI Switch.

Greater Merchant Satisfaction

  • Serve online and offline merchants more efficiently with automated operational processes.
  • Enable quicker turnaround times, improving merchant satisfaction.

Robust Technology Stack

  • Leverage Razorpay’s industry-leading cloud-integrated infrastructure for unmatched reliability.
  • Ensure a stable, available, and high-performance UPI system.

Why businesses should choose the Razorpay UPI 360 Infra Stack 

When banks enjoy access to better UPI infrastructure, it will ultimately benefit businesses that work with those banks through Razorpay. 

  • First-to-Market, Always

You can now introduce cutting-edge UPI features in 2-3 months from the time of circular issuance by the NPCI.

  • Supercharged Performance 

Experience a 4-5% boost in success rates as our UPI switch handles 4000 transactions per second and ensures 99.99% uptime, promising uninterrupted, reliable payment services. 

  • Easy Scalability 

Never worry about scaling up for the festive season again. Razorpay UPI 360 is cloud-integrated, so you can scale up quickly to support high payment volumes without investing in costly hardware. 

  • Proactive Support and Dispute Resolution 

Razorpay offers proactive, same-day support and real-time updates, allowing you to transform the customer experience, improve retention rates, and reduce the cost of acquiring new customers.

  • Your Partner in Innovation 

Work with Razorpay to develop innovative solutions to real-world challenges, setting your business apart as a true innovator.


UPI has transformed India’s digital payment landscape, but Indian banks and businesses need payment infrastructure that can keep pace with UPI’s evolution and innovate rapidly. 

With Razorpay UPI 360, that is exactly what we will enable – a top-notch infrastructure stack with innovation at its heart. Be the first to roll new features out, boost success rates, and leave downtime worries behind. 

Do you want to stay at the cutting edge of India’s digital payments revolution? Get in touch with us to feel the force of the Razorpay UPI 360. 



A devoted dog cuddler with an appetite for all things food, TV shows and rock music.

Write A Comment