Digital payments fintech Phi Commerce has received National Payment Corporation of India (NPCI) certification to offer UPI Switch to its enterprise customers, primarily to maintain high transaction volumes.

UPI Switch will help Phi Commerce instantly onboard enterprise customers, reducing substantial turnaround times associated with the existing banking process to attract new customers. This will enable their corporate clients to offer a wide range of payment options to their customers almost instantly and thus launch products and services at a faster pace than before.

Rajesh Londhe, co-founder and head of payments at Phi Commerce, said UPI Switch is a critical tool that would help NPCI achieve its ambitious goal of one billion transactions per day over the next three to five years. “UPI Switch distributes traffic across multiple servers, avoiding system overloads and reducing processing times. During peak times, when people rush to make payments, UPI Switch helps by distributing the load across multiple servers. It’s like opening more checkouts at a grocery store during peak hours, which would speed things up. This way, users benefit from fast and efficient transactions without delay,” said Londhe.

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From roadblocks to tracks

Phi Commerce provides businesses with omnichannel payment solutions that enable seamless and flexible payments across all consumer touchpoints: browser, mobile, in-store and remote. Reserve Payment Aggregator Payment Gateway (PAPG) Licensee Bank of IndiaPhi Commerce offers a unified, omnichannel digital payments platform serving the B2B and B2C payment needs of businesses around the world.

UPI Switch functionality supports easy integration and offers on-premises or cloud-based architecture, risk management tools, and 24/7 support and maintenance for availability and reliability .

Offered as a unified payment stack solution, UPI Switch supports all other features currently deployed by NPCI, including UPI. Auto Payment, recurring money orders, instant refunds and credit card links. This complementary product will also help enterprise customers increase their operating costs as processing time will be significantly reduced, thereby improving overall efficiency and providing a better customer experience.

This feature, in addition to managing traffic, also monitors if there is anything unusual or suspicious transaction using real-time fraud monitoring algorithms.

The UPI switch handles billions of transactions with sub-second response times. It also supports API-based integrations, enabling connectivity with various financial institutions and fintech platforms.