Built on the country's Unified Payments Interface (UPI), which allows
for instant money transfers between bank accounts at no charge, it'll have to compete with Google's Tez, local wallet service Paytm, and the government's own BHIM app, among others.
The feature is built on India's Unified Payments Interface [UPI], which allows for
instant money transfer between various bank accounts in India; one of the largest tech markets in the world.
The app (whose name translates from Hindi to «fast») is built on top of the country's inter-bank Unified Payments Interface (UPI), which allows for
instant money transfers at no charge.
The advantage of having a 3 - in - 1 account is that you get a seem-less trading experience since your bank account is directly integrated to your trading account which helps
in instant money transfer.
The feature is supported by ICICI Bank, which relies on the government - regulated Unified Payments Interface (UPI) system to allow
secure instant money transfers.
With this in place, the company states that it will provide «Township P2P &
B2B instant money transfer at a fractional cost currently being charged.»
The blockchain technology, which facilitates decentralised payment, is a possible solution to the issue
of instant money transfer, says Deutsche Bank's research report on real - time payments.
Last month in Jan 2018, one of the world's biggest money transfer company MoneyGram announced its ties with Ripple for testing the latter's xRapid solution which provides on - demand liquidity
for instant money transfer.
IndusInd Bank launches QuickPay —
an Instant money transfer service via SMS, E-mail & Social Media Platforms
Intrator believes blockchain technology as a platform for building trust when it comes to smart contracts for bank guarantees or
instant money transfer.
Instant Money Transfer: This is one of the fastest and easiest ways to buy Bitcoins without even opening a bank account.