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Tata Group readies its own UPI app ahead of launch
March 21, 2022
Tata Group is purportedly venturing into India’s digital payment’s industry to compete with any likes of PhonePe, Google Pay, Amazon Pay, and Paytm.
It is seeking clearance from the National Payments Corporation of India (NPCI) to start operating on the Unified Payments Interface (UPI) as a third-party payments service provider, as per a report by The Economic Times.
Tata Digital, its computerized commerce unit, is in chats with ICICI Bank and one more private sector lender to drive its UPI infrastructure, the report said, citing sources.
Tata is looking to have a UPI gateway ready in time for the launch of its super application Tata Neu in April, the report suggests. The group is looking to grow its presence in e-commerce quite late into the game; it needs to contend with established players and regulatory turbulence.
Tata is planning to launch its highly delayed super application ‘Tata Neu’ one month from now with an aggressive marketing push worked around the Indian Premier League (IPL), another ET report suggests.
The super application model, pioneered by China’s WeChat and Alibaba, brings all the customer confronting organizations, services, and results of a conglomerate under one umbrella like Reliance’s JioMart and Paytm Mall.
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