PVR Cinemas, the largest cinema exhibition company in India,
today launched a Unified Payment Interface (UPI) for its 122 properties across
the country.
The option will enable customers to make online payments via
UPI in addition to net banking, wallets and credit/debit cards.
"This will be the first large-scale roll-out of UPI by
any cinema chain in India. All of pvrcinemas.com users will have access to making
payments via download upi app starting today," the company said in a
statement.
UPI is a unique payment solution built to empower customers
to initiate payment requests through their smartphone. It provides a Virtual
Payment Address (VPA), through which users can send and receive money on a
two-factor authentication.
"Anyone with a smart phone and a bank account will be
able to benefit from download
upi app for transacting money online. This is a major change for online
commerce as UPI will allow us to reduce transaction costs and create a faster
checkout experience," said Kamal Gianchandani, Chief of Strategy at PVR
Ltd.
Created by the National Payment Corporation of India (NPCI)
with the support of the Reserve Bank of India and Indian Banks Association
(IBA), financial experts believe UPI will boost the online payments industry
and is a major step towards building a cashless society.
Source:[https://goo.gl/3kC7pX]
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