UPI or Unified Payments Interface is an advanced, easy-to-use, cheap and real-time payment platform designed by the National Payments Corporation of India.
Unlike more expensive payment options such as Visa and Mastercard, UPI is available to most banking users in the country via multiple apps on their mobile phone.
“The integration will allow SpiceJet passengers to use their unique UPI IDs i.e. Virtual Payment Address to pay for all bookings made on the SpiceJet website,” the airline said.
On entering the UPI ID, the passenger only need to authorize the payment to SpiceJet using their UPI PIN on the UPI app being used to complete the transaction, it said.
Banks are competing with each other to be the payments partner for e-commerce websites on the new platform.
YES Bank has signed up Flipkart, while Axis Bank has won over Freecharge and Paynear.