The UPI Casino Payment System: Buy the Solution From Smart Money
The UPI online casino payment system is a modern service that has already been highly appreciated by thousands of users from across the globe. It is extremely popular with gamblers from Asia and is also known to players from Europe, America, and Australia.
Managers of Smart Money will gladly assist you in installing the UPI solution.
This product is a joint development of the NPCI and several commercial banks, including the largest Indian RBI reserve bank.
The pilot project was launched on April 11, 2016, and in August of the same year, the integration of the UPI system became available to all residents of India. Originally financed by the Mumbai municipality, the application could be downloaded in the Google Play store. Later, a similar product appeared in the App Store as well.
This system was created mostly to transfer the local economy to a non-cash environment. The results of the RBI research show that 18% of India's total GDP is accounted for by cash resources. It means that this country still depends a lot on printed money, and the presentation of the UPI is a successful attempt to improve this situation.
Currently, 21 banks participate in the project. Apart from India, the solution is widely used in Southeast Asia and the United Arab Emirates.
The UPI casino payment system is a unified application for mobile devices based on iOS and Android, which allows you to carry out instant transactions on the Web. The service is extremely popular with gamblers. It is also actively used in the field of e-commerce, payment for utility services, tickets booking, payment for delivery services, stock trading, etc.
Connection of the UPI casino payment system is possible due to the use of 2 international services:
Immediate Payment Service (IMPS)
This Indian instant payment service is based on interbank wire transfers via mobile devices.
The technology is connected to more than 150 banks in the world. Its distinctive features are the minimum commissions and round-the-clock operation
Aadhaar Enabled Payment System (AEPS)
A model for financial transactions where the land-based PoS (Point of Sale) is used. Thanks to it, it is possible to connect the UPI casino payment service not only to Internet platforms but also land-based gambling halls with slot machines, consoles, self-service terminals, and betting terminals
Thanks to modern technologies, gamblers can make payments using:
unique mobile numbers;
IFSC (Indian Financial System Code);
QR code (with the subsequent identification based on biometrics);
Aadhaar numbers (for payments via self-service gambling equipment).
This innovative development has several beneficial aspects:
Ease of use. Banking transactions via mobile devices require the provision of the number and type of a banking account, bank name, IFSC code, and other details. The connection of the UPI casino payment system greatly simplifies the procedure.
Confidentiality. You will need to provide a minimum of personal information. To deposit and withdraw funds, it is enough to indicate one of the offered data types, for example, VPA or a mobile number.
High speed of money transfers. The average processing time for payments of a banking institution is 12 hours. The UPI casino payment system can speed up this procedure. The withdrawal of funds that were won on the gaming site will take no more than 2–3 hours.
Useful settings. There are several interesting options that were integrated into the system. For example, the Auto Pay function for regular payments. You can look through the history of transactions, set up regular payments, and make up statements of accounts.
Minimum commission. The fee for each transaction is only 0.1 dollar (INR 0.50). This is one of the lowest commissions in the world, which definitely attracts gamblers. Operators can set an additional commission at their discretion or renounce this idea.
Availability. The integration of the UPI casino payment system is possible due to the distribution of the product via many popular applications. In addition to Google Play and App Store, the solution can be downloaded from PhonePe, FreeCharge, Mobikwik, and other online stores.
This system is very popular with gambling software vendors for several reasons:
High performance. The system processes payments in the amount of 103.6 thousand dollars every day. By the end of 2019, the sum of 270 billion dollars was exchanged through UPI, which is a very high indicator for a relatively young service. The system provides good performance, and it is important at times of critical loads on the online casino server.
Complete security. The data connection is protected by the 256-bit encryption, and the service itself provides two-factor authentication for all users. UPI asks for a minimum of information when transferring money, which also affects the overall level of security.
User-friendly interface. It is developed and managed by leading experts from the State Bank of India (SBI Pay). The product is distinguished by a laconic design, well-thought-out navigation, and a wide range of additional settings for the comfortable use of the service.