Razorpay launches 'UPI Switch' in partnership with Airtel Payments Bank

Razorpay, a leader in digital payment solutions in India, has launched a UPI infrastructure called 'UPI Switch' in partnership with Airtel Payments Bank. The new platform aims to significantly enhance transaction success rates and speed, addressing key challenges in the UPI payment system.

What is UPI Switch?

'UPI Switch' is a cloud-based innovation designed to process up to 10,000 transactions per second. This next-generation system is expected to provide businesses with five times faster access to UPI innovations, enhancing the scalability and performance of digital transactions.

Benefits of the new system

Khilan Haria, Head of Payments Product at Razorpay, emphasized the switch's design to optimize scalability and improve overall performance for businesses. It is engineered to boost transaction success rates by 4-5% and offers features specifically tailored to meet diverse business needs. The system also facilitates instant refund processes and significantly faster dispute resolution, improving the overall customer experience.

Khilan Haria, Head of Payments Product at Razorpay, said, "India has always been at the forefront of innovation in the digital payments ecosystem, and its possibilities have compounded in the last few years, thanks to the versatility of UPI. As a result, the country has been able to set a global standard, emphasizing the need to continually raise the bar with each advancement. Razorpay's UPI Switch is designed with a similar vision to provide scalability and best performance to businesses."

"This venture into UPI Infrastructure marks a strategic move to manage the end-to-end merchant experience and provide the industry's leading stack. With latency below 100 milliseconds, a 4-5% increase in success rates, and features customized to suit business needs, our switch is crafted to enrich the payment experience and ensure that businesses can now manage the surge in UPI transactions on any sale or non-sale day," Haria added.

Partnership impact

Ganesh Ananthanarayanan, Chief Operating Officer of Airtel Payments Bank, highlighted the partnership's role in providing a secure, seamless, and scalable payment experience. With an uptime of 99.99%, this collaboration aims to set new standards for business payments and aligns with the vision of a digital India.

"We're thrilled to announce our collaboration with Razorpay, aimed at providing our customers with a seamless, secure, and scalable payment experience. Our integration with Razorpay's UPI Switch, a cloud-based infrastructure for the most advanced UPI Stack, ensures 99.99% uptime and enables up to 10,000 transactions per second. As UPI transactions continue to surge, our collaboration sets a new standard for business payments, aligning perfectly with the vision of a digital India," Ananthanarayanan said.

The UPI Switch is poised to drive all future UPI innovations at Razorpay, including solutions like Turbo UPI and TPAP. By 2030, UPI is expected to account for 90% of digital transactions, reaching up to 2 billion transactions daily.