Swiggy Launches Integrated UPI Payment Feature for Faster Transactions

Swiggy introduces ‘Swiggy UPI,’ a seamless in-app payment feature powered by NPCI and Juspay, reducing transaction steps and enhancing user experience.

Key Points

• Swiggy has launched ‘Swiggy UPI,’ allowing users to complete UPI payments directly within the app, simplifying the payment process.
• The new feature, powered by Juspay’s HyperUPI Plugin, eliminates the need for redirection to third-party UPI apps.
• Swiggy UPI reduces transaction time from over 15 seconds to just 5 seconds, offering a smoother and faster payment experience.
• Users can set up Swiggy UPI with a one-time linking of their bank accounts and then complete future transactions by entering their UPI PIN.
• The launch comes as UPI-based transactions in India continue to rise, with a transaction volume of Rs 20.64 lakh crore in July.

Swiggy has rolled out a new feature called ‘Swiggy UPI,’ offering users a more streamlined and efficient way to make payments directly within the app. This latest update, which integrates with the National Payments Corporation of India’s (NPCI) digital payment system, is designed to enhance the user experience by reducing the payment process from five steps to just one.

Anurag Panganamamula, who heads Revenue and Growth at Swiggy, emphasized that this feature aligns with Swiggy’s mission to provide unparalleled convenience to consumers, especially as UPI continues to gain traction as a preferred payment method in India. “Swiggy UPI is all about simplifying the payment journey for our users, making it faster and more intuitive,” he said.

The Swiggy UPI feature is powered by Juspay’s HyperUPI Plugin, which ensures that users no longer need to be redirected to third-party UPI apps to complete transactions. This integration not only cuts down the transaction time significantly—from over 15 seconds to just 5 seconds—but also reduces the chances of payment failures by keeping users within the Swiggy app throughout the process.

To get started, customers need to complete a one-time setup by linking their bank accounts through the app’s payment page. After this initial setup, all future transactions can be completed by simply entering their UPI PIN, making the payment process both quick and secure. Additionally, the in-house plug-in will alert users to any potential issues, such as insufficient funds or incorrect credentials, allowing them to resolve these problems promptly and complete their payments successfully.

The launch of Swiggy UPI comes as UPI transactions in India continue to soar. In July, UPI-based transactions reached Rs 20.64 lakh crore, up from Rs 20.07 lakh crore in the previous month. The total number of UPI transactions also increased by nearly 4% month-on-month, from 13.89 billion in June to 14.44 billion in July.

As UPI continues to dominate the digital payment landscape in India, Swiggy’s integration of this feature underscores its commitment to leveraging technology to enhance user convenience and keep pace with evolving payment trends.