Swiggy launches UPI to speed up checkout, details
Business: Swiggy has launched Swiggy UPI, a new feature designed to streamline the in-app payment experience for its users. By integrating the National Payments Corporation of India’s (NPCI) UPI plug-in solution, Swiggy aims to reduce friction in the checkout process and enhance customer satisfaction. Swiggy UPI allows users to complete UPI transactions directly within the Swiggy app, eliminating the need to switch between apps and significantly reducing the number of steps required to make a payment. “With this integration, users can now complete UPI transactions without leaving the Swiggy app, reducing the payment process from five steps to just one,” the company announced. This streamlined process, powered by Juspay’s HyperUPI plugin, promises faster transactions and fewer payment failures. According to Swiggy, the new system reduces transaction times from 15 seconds to just 5 seconds.
Anurag Pangnamula, Head of Revenue and Growth at Swiggy, highlighted the focus on customer convenience:
“We are excited to introduce our UPI experience to our customers. This feature is in line with Swiggy’s mission to provide unparalleled convenience to consumers as UPI continues to emerge as one of the most preferred payment methods. By vastly simplifying the transaction process and reducing payment failures, we believe this feature will significantly enhance the consumer experience on Swiggy.”Setting up Swiggy UPI is a simple one-time process. Users can link their bank accounts on the app’s payments page and then use their UPI PIN for all future transactions. The in-app integration also provides instant feedback on any payment issues, allowing users to fix them quickly.Swiggy’s move is in line with the growing popularity of UPI in India. In April 2024, Finance Minister Nirmala Sitharaman highlighted that India has approximately 131 billion UPI transactions recorded. NPCI is actively encouraging more businesses to integrate UPI services to further accelerate digital payments adoption.
