{"id":5276,"date":"2020-12-17T17:52:32","date_gmt":"2020-12-17T12:22:32","guid":{"rendered":"https:\/\/razorpay.com\/blog\/?p=5276"},"modified":"2025-04-10T16:37:42","modified_gmt":"2025-04-10T11:07:42","slug":"upi-qr-code-razorpay-upi-apps","status":"publish","type":"post","link":"https:\/\/razorpay.com\/blog\/upi-qr-code-razorpay-upi-apps\/","title":{"rendered":"UPI QR Code and other Apps by Razorpay to Unlock Business Growth"},"content":{"rendered":"

It is hard to believe that up until four years ago, there was no such thing as a UPI transaction. UPI has achieved landmark growth<\/a> and an insurmountable presence in customers\u2019 lives in a mere span of four years. The next big thing now is UPI Apps.<\/span><\/p>\n

At Razorpay, we have seen the power and impact of UPI transactions<\/a> for our partner brands and customers. Hence, we continue to innovate on this popular payment mode to provide every level of success for your business. <\/span>
\n<\/span>
\n<\/span>Razorpay payment apps are simple tools that solve every need of your business. Now combine the popularity of UPI and the simplicity of our apps. Presenting<\/span> Razorpay\u2019s UPI-Based Apps, <\/b>our suite of payment tools based on UPI. These apps will make payments easier, smoother, and better for your customers.<\/span><\/p>\n

Let\u2019s have a sneak peek at each product and discover how they can improve your company\u2019s customer experience and profitability.<\/span><\/p>\n

UPI QR Code
\n\"UPI<\/span><\/h2>\n

As the world moves towards digital payments, QR codes become a much-awaited and celebrated offering. They are gradually becoming a staple for supermarkets, cabs, and even small Kirana stores. They help in circumventing the hassle of adding the UPI ID<\/a> details, which is an error-prone process. It also requires a basic familiarity with the English language, which is not suitable for everybody.<\/span><\/p>\n

Thus, Razorpay is bringing QR codes on Virtual Accounts. This will be a unique, quick, and contactless way to collect payments from your customers.\u00a0<\/span><\/p>\n

About the product<\/span><\/h3>\n

At Razorpay, we observed that QR Codes were proving to be a more error-resistant way of accepting payments<\/a>, especially in the contactless world. We wanted to give this seamless option to our merchants, even without an API integration. Thus, was born the idea of UPI QR Codes.\u00a0<\/span><\/p>\n

By providing QR codes on our Dashboard, we aim to offer our merchants the option to create multiple codes and customize them at the time of creation. Depending on the use case, they can decide to accept one payment or multiple payments. This brings the benefits of QR codes and combines them with the easy reconciliation benefit of Virtual Accounts.\u00a0 Below is a sneak peek of how easily one can generate UPI QR Codes from the Razorpay Dashboard<\/a>.<\/span><\/p>\n

\"UPI<\/p>\n

Key benefits and features<\/span><\/h3>\n

Consequently, a much-needed innovation, UPI QR, will allow our merchants with the following benefits.<\/span><\/p>\n

    \n
  1. Single dashboard to track payments across all receivers<\/span><\/li>\n
  2. Automated reconciliation\u00a0<\/span><\/li>\n
  3. Smart reporting to track agent\/store level performance\u00a0<\/span><\/li>\n
  4. Ease of creating QR codes without any integration<\/span><\/li>\n
  5. Flexibility to decide between static QR vs. dynamic QR code<\/a> at the time of the creation<\/span><\/li>\n<\/ol>\n

    This product is currently in its Early Access stage. However, our team is working hard to make it available at the earliest for all our Dashboard users as well. As of now, we have few businesses live on UPI QR Code and the results are promising and motivating for both parties. If you wish to avail the benefits of Razorpay’s UPI QR Code, then join the waitlist below and we will keep you updated.<\/span><\/p>\n

    Related Read: How to Generate GST-Compliant Dynamic QR Codes?<\/a><\/span><\/p>\n

    UPI Payment Links<\/span><\/h2>\n

    \"UPI<\/p>\n

    Before we decode the latest innovation in UPI payments, let\u2019s understand something about the consumer behavior linked to it. One of the main reasons UPI took over net banking and card transactions was because people had to regularly refer to their bank and card details.<\/span><\/p>\n

    With UPI, the hassle of remembering multiple details and numbers went away. However, this did not completely solve the problem. We observed that particular behavior-linked challenges need to be smoothened to make UPI meet cards head-on.\u00a0<\/span><\/p>\n

    The problem at hand<\/span><\/h3>\n

    Being a payment gateway<\/a> service provider, Razorpay obsesses over success rates. Thus, we decided to analyze the UPI payment failure data. We noticed that the most significant reason, accounting for 39% of failed transactions, is the <\/span>Incorrect VPA<\/b> error code.\u00a0<\/span><\/p>\n

    VPA(Virtual Private Addresses)<\/a> is a unique identifier that helps UPI track a person\u2019s account. It usually is of the format \u201cexample@okbank.\u201d With netbanking, customers had to deal with the hassle of remembering long usernames and details. Though UPI gave relief from such hassles, yet even for UPI, a customer had to remember the VPA.<\/span><\/p>\n

    So what we needed to do to make UPI payments simpler was tackle the issue of incorrect VPAs. One of the things we recently did was provide a Save VPA option<\/a>, which gave substantially positive results. <\/span>The next big step in this direction was UPI Payment Links.\u00a0<\/span><\/p>\n

    The solution<\/span><\/h3>\n

    UPI Payment Link is an activated link that enables the user to complete transactions via their UPI app without having to remember or recall VPAs. The biggest advantage of this product is that you can make UPI payments without a VPA. This helps in improving success rates and reducing drop-offs and payment failures.<\/span><\/p>\n

    UPI Payment Links, like Razorpay Payment Links<\/a>, come with an expiry date, a paid confirmation page, and a shareable URL. Refer to the GIF below to see the seamless way in which you can now accept UPI payments.
    \n\"UPI<\/span><\/p>\n

    One product, multiple benefits<\/span><\/h3>\n

    UPI Payment Links bring with them numerous advantages and are suited for different scenarios. Let\u2019s have a quick look as to how you can gain an edge with them.<\/span><\/p>\n