Pine Labs & Axis Bank Launches ‘UPISetu’ India’s First UPI-Focused Payments Platform

Current Context: On 7th August 2024, Pine Labs and Axis Bank launched UPISetu, India’s first UPI-focused payments platform.

• This platform is designed to enhance UPI payments for businesses and developers by integrating a wide array of UPI functionalities, including QR code payments, UPI Autopay, EMI options, and Third-Party Validation services.
• UPISetu aims to leverage the growing popularity of UPI in India, which has seen a significant rise in transactions over the past few years.
• This platform is expected to provide a seamless and efficient payment experience, catering to the evolving needs of businesses and consumers alike.

Question:

1. Which two organizations collaborated to launch the UPISetu platform?

• A) Pine Labs and HDFC Bank
• B) Axis Bank and PhonePe
• C) Pine Labs and Axis Bank
• D) Google Pay and ICICI Bank

Answer: C) On 7th August 2024, Pine Labs and Axis Bank launched UPISetu, India’s first UPI-focused payments platform.