NPCI & NPST Pilot POC for UPI UDIR secure platform for Real-time merchant refunds

livemint.com:

India, September 5, 2023 - UPI Merchant UDIR (Unified Dispute and Issue Resolution) system was successfully completed by NPST & NPCI. NPST have completed POC for Realtime refund process with a Marquee PAPG for resolving customer disputes and grievances pertaining to UPI payments, using a system-driven and rule-based mechanism with a minimal manual intervention. While the volume of UPI transactions has been increasing, with a free-market model in UPI is continuing exponential growth, where pricing model and charges are determined by market forces.

Regulators have understood the importance of Unified Dispute and Issue Resolution Unified Dispute and Issue Resolution or UDIR is an automated, single-channel redressal system designed to seamlessly address customer issues and complaints regarding pending transactions and provide speedy dispute resolution in an online manner instead of manual file-based processes. The Complaint Management System allows customers to raise a complaint directly through the NPST TPAP App, which is then assigned to the relevant bank or PSP involved in the transaction through an automated manner for resolution.

Implementation UDIR will benefit translate into higher customer Net Promoter Score. NPST has built APIs and online portals as a quick access to its clients majorly Payment aggregators and merchants with ready to integrate tools and easy to use process.

Currently, there are three functionalities enabled through UDIR, which include status finalization for pending transactions: post implementation of UDIR, the company is seeing about 50 per cent improvement in resolution time. To further its goal in bringing best value proposition to its merchants, NPST has successfully developed and launched the