What is a UPI merchant gateway?
A UPI merchant gateway is a digital payment solution that enables businesses to accept payments directly through the Unified Payments Interface (UPI). It acts as a bridge between merchants and banking networks, facilitating seamless and instant transactions. UPI merchant gateways integrate with online and offline businesses, allowing customers to make payments via UPI apps.
These gateways support various payment modes, including QR codes, payment links, and embedded checkout options, making transactions efficient and secure. With real-time settlements, robust security protocols, and interoperability across banks, a UPI merchant gateway simplifies digital payments, enhancing customer experience and operational efficiency.
Benefits of becoming a UPI merchant gateway
Instant payments: Receive payments instantly without delays.Lower transaction costs: UPI transactions often have minimal or no processing fees compared to other payment methods.
Enhanced customer experience: Quick and easy transactions lead to better customer satisfaction.
Wide reach: Accept payments from multiple UPI apps, increasing accessibility.
Secure transactions: UPI follows multi-layered security protocols to prevent fraud.
Automated reconciliation: Simplifies bookkeeping with automatic transaction records.
Easy integration: Compatible with multiple platforms like e-commerce websites, mobile apps, and offline businesses.
Eligibility criteria for UPI merchant registration
Must be a registered business entity (Sole Proprietorship, Partnership, LLP, or Pvt Ltd Company).Must have a valid business bank account with a UPI-enabled bank.
Should possess a GST registration if applicable.
Must comply with KYC norms and banking regulations.
Should have a secure payment system and adhere to digital transaction guidelines.
Businesses dealing in prohibited or restricted items may not qualify.
Documents required for UPI merchant onboarding
Business PAN CardGST Certificate (if applicable)
Proof of Business Registration (Incorporation Certificate, Partnership Deed, etc.)
Business Bank Account Details (Cancelled Cheque or Bank Statement)
Aadhaar and PAN of Proprietor/Authorised Signatory
Address Proof of Business (Utility Bill, Lease Agreement, etc.)
Step-by-step guide to setting up a UPI merchant gateway
Choose a payment gateway provider: Select a UPI-enabled payment gateway that suits your business needs.Register with the provider: Sign up on the provider’s portal and fill in your business details.
submit Required Documents: Upload necessary KYC documents for verification.
Integrate with your platform: Use API keys or plugins to connect the UPI gateway to your website, app, or POS system.
Generate UPI QR code or payment link: Configure your preferred payment mode for easy transactions.
Test transactions: Conduct test payments to ensure smooth functionality.
Go live: Once approved, start accepting UPI payments seamlessly.
Tips for using a UPI merchant gateway effectively
Tip | Description |
Keep QR codes visible | Display QR codes at checkout points for easy scanning. |
Enable payment links | Share UPI payment links via SMS, email, or WhatsApp. |
Monitor transactions | Regularly check transaction records to avoid discrepancies. |
Offer discounts | Provide cashback or discounts to encourage digital payments. |
Ensure security | Use secure networks and two-factor authentication. |
UPI merchant transaction charges and limits
Parameter | Details |
Transaction fee | Generally free or minimal charges by banks/gateways. |
Daily transaction limit | Usually up to Rs. 1,00,000 per transaction (varies by bank). |
Maximum transactions per day | Around 20-30 transactions (depends on the bank). |
Settlement time | Real-time or within 24 hours |
How to generate UPI QR code for your business?
1. Log in to your UPI merchant account.2. Navigate to the 'Generate QR Code' section.
3. Enter your business details and bank account.
4. Select the UPI apps for which you want the QR code.
5. Generate and download the QR code.
6. Print and display it at your business location.
Unlock the power of UPI merchant gateway with Bajaj Pay
Feature | Benefit |
Fast settlements | Get quick fund transfers with minimal delays. |
24/7 customer support | Dedicated assistance for payment queries. |
Secure transactions | Advanced encryption ensures safe payments. |
Easy integration | Seamless API integration with multiple platforms |
Customisable payment links | Create unique payment links for different customers |
Cashback offers | Avail cashback incentives for high transaction volumes |