Razorpay launches UPI switch in partnership with Airtel Payments Bank

economictimes.indiatimes.com:

Razorpay on Tuesday launched its own Unified Payments Interface (UPI) infrastructure, or UPI switch, in partnership with Airtel Payments Bank.
The infrastructure is designed to handle up to 10,000 transactions per second, at any given time, and enable five times faster access to UPI innovations for businesses, Razorpay said in a statement.

Elevate Your Tech Prowess with High-Value Skill Courses

The infrastructure must be hosted by a bank for businesses to use it. Airtel Payments Bank is Razorpay's banking partner for this.

According to Razorpay, the efficacy of UPI transactions relies heavily on the UPI infrastructure deployed by banks. These banks connect with the existing UPI infrastructure to facilitate seamless communication between the core banking systems and UPI technology during UPI transactions. This infrastructure is powered by technology service providers (TSPs) for banks and plays a crucial role in processing UPI transactions at scale.

Razorpay said it had identified shortcomings in the current infrastructure, such as a lack of customisation features for businesses, resulting in scalability issues, technical declines and downtimes that hurt customer experience. Also, legacy TSPs face challenges in remaining compliant with changing regulations, impeding their ability to innovate and meet the evolving