Meaning
UPI merchant onboarding is the process of registering a business on a UPI platform to accept digital payments. The merchant provides KYC documents, bank account details, and other required information.
Examples
- Restaurants signing up to accept UPI payments.
- E-commerce sellers registering for UPI acceptance.
Importance
- Enables secure, real-time payments for businesses.
- Expands digital payment adoption.
- Provides merchants with reports and transaction tracking.
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