MULTI

Unified Payment Interface

MAXIMUS MULTI the futuristic implementation of NPCI’s Unified Payment Interface (UPI), ensures safe, efficient, interoperable, authorized, and accessible payment and settlement systems in the country that are inclusive and compliant with international standards.

MULTI is designed to fulfill the objectives set out by RBI and NPCI to create the next generation online immediate payment system leveraging mobile technology and internet. RBI’s vision of less-cash society would be promoted by this system.

The next generation payment system provides a scalable architecture with appropriate Application Programming Interfaces (APIs) to support both payment and collection transactions on smartphones by using virtual payment addressing.

The virtual payment addresses are aliases to accounts that may be payee, amount or time-limited, providing a high degree of security. The MULTI mobile application allows payment from any account using any number of virtual addresses through credentials such as passwords, PINs or biometrics (on phone).

MULTI ensures full traceability of the transaction chain.

The MAXIMUS UPI solution supports two-party, three-party and four-party models.

In a two-party model, pay request is handled in the manner described here. The payer initiates a pay request by entering his/her PIN and the virtual address of the payee. The payer’s Payment Service Provider (PSP) debits the payer’s account & sends it to UPI which, in turn, routes it to the payee’s PSP. Once the payee’s PSP identifies the address and credits the payee’s account, a confirmation is sent to the payer through UPI. A collect request is handled in the manner described here. The beneficiary sends a collect request by entering the virtual address of the payer. The beneficiary’s PSP sends the same to UPI which routes it to the respective payer’s PSP. The payer’s PSP sends a notification to the payer for authorization who enters the PIN and confirms the payment. The payer’s PSP debits the payer’s account and sends the confirmation to UPI. UPI sends the debit confirmation to the beneficiary’s PSP which credits the beneficiary’s account and sends the confirmation to the payer.

In the case of a three-party model, pay request is handled in the manner described here. The payer initiates a pay request by entering his/her PIN and the virtual address of the payee. The payer’s PSP debits the payer’s account & sends it to UPI which, in turn, routes it to the payee’s PSP. The payee’s PSP identifies the address and sends the relevant account information to UPI. UPI sends a credit request to the beneficiary bank which then credits the payee’s account and responds with a successful credit intimation to UPI. UPI forwards this to the payer’s PSP which sends a successful transaction confirmation to the payer. A collect request is handled in the manner described here. The beneficiary sends a collect request by entering the virtual address of the payer. The beneficiary’s PSP sends the same to UPI which routes it to the respective payer’s PSP. The payer’s PSP sends a notification to the payer for authorization. Payer enters the PIN and confirms the payment. Payer’s PSP debits the payer’s account and sends the confirmation to UPI which sends the credit request to the beneficiary’s bank. Beneficiary’s bank credits the beneficiary’s account and confirms the same to UPI. UPI sends the successful confirmation to the payee’s PSP which in turn forwards to the payer.

MULTI also supports a four-party model, pay request is handled in the manner described here. The payer initiates a pay request by entering the virtual address of the payee. Payer’s PSP sends the pay request to UPI which in turn sends the request to the respective payee’s PSP. The payee’s PSP validates the address and responds with the financial address of the payee to UPI. UPI sends a debit request to payer’s bank. Payer’s bank debits the account of the payer and responds to UPI. UPI sends a credit request to the payee’s bank which credits the payee’s account and sends a successful credit intimation to UPI. UPI sends a successful confirmation to the payer’s PSP which in turn sends the message to the payee’s PSP. The payer’s PSP sends the confirmation to the payer. A collect request is handled in the manner described here. The beneficiary sends a collect request by entering the virtual address of the payer. The beneficiary’s PSP sends the request to UPI. UPI sends the request to the respective payer’s PSP. Payer’s PSP sends a notification to the payer for authorization. The payer enters the PIN and confirms the payment. Payer’s PSP sends the response to UPI which in turn sends the debit request to the payer’s bank. Payer’s bank debits the payer’s account and sends response to UPI. UPI sends a credit request to the beneficiary’s bank. The beneficiary’s bank credits the beneficiary’s account and responds with a successful credit intimation to UPI. UPI forwards the credit intimation to the payee’s PSP which then sends the confirmation to the payee.

Benefits to Bank

  • Universal App for Payments
  • Security
  • Payments based on Single/Unique Identifier
  • Opportunity to Tap Customer to Business (C2B) Segment
  • Opportunity to Tap eCommerce & mCommerce (Pull-Initiated) Transactions
  • Simplified Authentication

Benefits to Customer

  • Customer can make a payment by providing only an address without having to reveal account details or credentials on 3rd party applications or websites.
  • Customer can send a collect request to another person or entity with “pay by” date to allow a payment request to be “snoozed” and paid later before expiry date.
  • Customer can pre-authorize multiple recurring payments similar to ECS (utilities, school fees or subscriptions) with a one-time secure authentication and rule-based access.
  • Customer shall be able to transfer funds without revealing their personal details like Mobile Number/Account Number. It can be done using a virtual address. PSPs will be bound not to share the data with anyone else.
  • It is easy and convenient for the customer to authorize a transaction by entering just a PIN.
  • A payment request can be generated in a web interface on a desktop.
  • Payments can be done by providing only one identifier of the beneficiary such as the mobile no./Aadhaar No./virtual address.
  • Customer can make payments using 1-click 2-factor authentication all using just a personal phone without using any acquiring devices or physical tokens.