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Axis Bank to be able to process payments over WhatsApp soon

Press Trust of India  |  Bengaluru 

India's third largest private sector today said it would soon be able to process payments over the popular chatting application 'WhatsApp'.

The also termed the Unified Payment Interface(UPI) as a "huge oppertunity".

"UPI we are the market leaders in terms of innovation, and we do believe that UPI is a huge opportunity. We are working in terms of creating a differentiated environment for our customers," Director -Retail Banking, told reporters here.

"We are also working with partners like Google, WhatsApp, Uber, Ola and pay to be able to create the ecosystem for customers to be able to make payments," he said.

According to officials, enjoys 20 per cent market share in the UPI space.

Stating that Tez is already up and running, Anand in response to a question about the roll out said, "WhatsApp, we are in the process of integration.

" currently running the beta version, the full version should...we are hoping is, will come with in the next month or two."

said it's spends touched Rs 51,030 crore in Q3 FY18, increasing 71 per cent YoY, thereby reinforcing the Bank's commitment to accelerate the 'Digital India' agenda.

It said over 66 per cent of the Bank's transactions were made through 'digital modes' in Q3 FY18 as against 52 per cent in Q1 FY17.

According to officials, the Bank's focus on cards, both credit and debit, also continues to remain high with Axis continuing to be the in installing 'card-acceptance terminals'. As of Q3 FY18, the number stood upwards of 479,200.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 13 2018. 17:00 IST