A s t r at e g i c g u i d e f o r y o u r b u s i n e s s t o

h a r n es s t h e f u l l p ot e n t i a l o f U P I 1 01
contact us here
CONTENTS

Rise of UPI: The Backstory
 01

What is Turbo UPI?
 05

How is Turbo UPI Powered?
 07

Key benefits of Turbo UPI
 09

Take an Evaluation Quiz 
 10

Turbo UPI for Investments
 11

Turbo UPI for Online Travel Aggregators 
 12

Turbo UPI for E-Commerce
 13

Turbo UPI for Cab Aggregators
 14

Turbo UPI for Hyper-Local Delivery
 15

Turbo UPI for Recharges & Utility 
 16

What is your Opportunity Cost?
 17

What is the Razorpay Advantage?
 19

Get Started with Integrations 20

 Preface

Dealing with an abundance of information and misinformation has

become commonplace for all of us. The Turbo UPI 101 guide aims

to cut through the clutter, & give you much-needed context on the

latest, most exciting innovation in UPI - the UPI Plugin.

The Rise of UPI

7
6
%

United Payments Inter face

is the fastest growing payment

method in India, accounting for

over 76% of digital

transactions.

58.5 % 41.5 %

In August ‘23, UPI payments

hit an all time high of

10 Billion +
Transactions / month

which translates to

4000 txns/sec

P2M payments have surpassed

P2P transactions by volume

P2M P2P

By 2030, UPI is UPI will soon

projected to handle over

constitute more than

2 billion
90%

daily transactions of digital transactions.

1
 With new innovations being rapidly added to the mix,

UPI is no longer a product. It is a platform that powers

multiple payment methods!

UPI is poised to become the

“Checkout of the Future”

Credit
Pre-Paid
Cards Instruments

Savings Credit

Account Lines

In the current UPI payment landscape, A groundbreaking advancement in

reliance on third-party UPI apps
comes with limited visibility. For
businesses, maintaining control over
their users' payment journeys will be
pivotal for growth. Without this
visibility & control, UPI will never truly
reach its full potential.
the UPI landscape introduces in-app
payment flows via the NPCI UPI
Plugin. This innovation significantly
surpasses the conventional UPI
Intent flow, which has become an
industry standard, offering
businesses newfound control and
visibility over the payment process.

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3
4
 Wha t is Turbo UPI?
Developed atop NPCI's P2M Plugin, Razorpay Turbo UPI helps you deliver a
5x faster, 1-step in-app payment experience to your customers. It removes
redirections to external apps, reducing the number of steps from 5 to 1 and
effectively eliminating customer drop-offs.

By powering a truly native, in-app experience, Turbo UPI removes dependencies

on third-party UPI apps to take new features live, and provides businesses with
end-to-end visibility on the customer payment journey - giving merchants the
power to reclaim their checkout.

Now your customers

can go from this …

UPI Collect To this …

To this …
UPI Intent  

Turbo UPI

Axis
AxisBank
Bank

VPA to be entered
manually

High user effort 

No VPA to be entered

Multiple points of Low user effort 

payment failure 
No VPA to be entered

Multiple points of
2-3 redirections payment failure 
Low user effort 

2 redirections Limited points of

payment failure 

0 redirections

5
 UPI Payments have never
been more seamless
Select Linked Account Enter UPI Pin Transaction Complete!

2:29 SleepyCat 2:29

Axis Bank 2:29
Razorpay Trusted Business

Axis Bank

₹ 1,850 Pay Now

View Details

Marquee Brands

Our LIVE merchants have much to say! 


"As a business, it is of utmost importance to delight our customers by providing them
with the best and most seamless payment experience, and ‘Turbo UPI’ has taken that up
a notch. We are confident that this streamlined, frictionless, and time-saving payment
solution will not only enhance our customers’ experience but also minimize drop-offs
during the UPI payment journey."


K. Radhakrishnan,

Mannaging Director, Tata Starquik

6
 What’s happening
behind the scenes?
NPCI empowers UPI Apps to securely process UPI payments through the NPCI
Common Library once users have performed a one-time device binding at the time of
onboarding. This process can be split into two parts:

Setting a UPI Pin

Device Binding

For every new account that is linked A connection must be established between the user’s
to the UPI network users must enter sim, device & application (UPI App), that provides a
their debit card & Aadhar details to secure environment for NPCI to process a UPI payment
facilitate pin & VPA creation. by deploying their Common Libraries (Pin Screen)

Issui
Cust ng

o mer Bank

Issui
n
Swit g

ch

Merc Paye
hant e PSP

Turb Acqu Acqu

o ir
UPI iri
Swit ng
Swit ing

ch ch
Issui
n
Swit g

ch

Bene
ficia
Bank ry

PA/P
G
7
In the Turbo UPI flow, users no longer
engage with UPI Apps to make payments,
but process them directly via the business’s
app. This means that the business’s app
is becoming a UPI App! Well, almost.
Through the device binding process, a user
links their preferred bank accounts to the
business’s app & securely bind their sim,
device & application. This eliminates the

need for payments to be processed via a

third-party UPI App.

To provide a secure environment for users,

NPCI mandates a one-time device binding In this process, a new masked VPA is
process to be completed by the user.

generated by the bank app that powers

these transactions. Think of it as the bank
This can be completed by the user in just issuing tickets to allow customers to
a few clicks, and then they’re all set! transact on the Turbo UPI flow!

Can a user who has never linked their bank account to the UPI network do
so on a business’s app? Yes, this is possible! However, as required by NPCI,
the user must encounter the pin-setting flow in this scenario.

Customers must engage in a simple, 1 time device binding

effort to link their account to the mobile app

Permission
Device
Bank
Account
Account

Authorisation Binding Selection Fetching Linking

8
 6 Ways Turbo UPI can

super-charge your payments

Improve your Conversion Rate

Improve Payment Visibility

Offer an in-app UPI experience, with no
additional hops to third-party UPI apps,
improving conversion rates and customer
retention. Turbo UPI streamlines the
payment process, reducing steps from 5 to 1
and eliminating redirections, enabling users
to complete UPI transactions seamlessly
within your app and checkout 5 times faster
for subsequent transactions.
Traditionally, your users get redirected to a
UPI App's checkout during transactions,
leaving you with no visibility into why or
where a customer drops off. Turbo UPI
eliminates all redirections, enabling us to
provide granular metrics & dashboards to
help prevent drop-offs effectively.

Prevent Data Sharing

Prominent UPI apps, initially focused on

P2M & P2M payments, have now
Simplify & Unify Customer Journeys

expanded into various services such as

NPCI is constantly introducing new features
insurance, travel, e-retail. As a growing
to the UPI Stack, such as CC on UPI and
business, you should be wary of relying too
Pre-Paid Wallets and most recently Credit
much on these apps, as they could gain
Lines on UPI. Turbo UPI empowers
access to customer data through UPI
businesses to swiftly offer these
transaction processing, despite your
innovations independently, reducing
investments in customer acquisition.
reliance on UPI Apps, ensuring faster

go-to-market, and delivering a unified

customer experience instead of a
fragmented one.
Leverage User Data

One of the critical benefits of driving in-app

Enable Easy Dispute Handling
spending patterns. These insights,
Streamlining dispute handling is essential
in payment processing. By eliminating UPI
Apps and offering in-app resolution,
businesses can enhance customer support
by reducing dependencies and increasing
user confidence in dealing with fewer
parties when issues arise.
transactions through Turbo UPI, is the
visibility you get into your customers’
previously unavailable through
conventional UPI Intent or Collect methods,
can be critical in understanding the
distribution of your users across various
bank accounts, empowering you to conduct
internal analyses and negotiate targeted
marketing offers with banks effectively.

9
Confused about whether

you need Turbo UPI?

Take a test

We understand that you may be confused about whether or

not this product is meant for you. So, take a test, and find out.

Do a majority of your customers make transactions

natively, via your mobile application?

Is UPI a preferred mode of payments for most of your

customers?

Do your customers return to your mobile app to make

frequent transactions?

Do you wish to prevent your customers’ data being

shared to other UPI apps?

Are you looking to gain visibility into your customers’

journey when they transact on third-party UPI apps?

Do you wish to delight your customers with an in-app

experience?

Do you want to make new innovations on UPI available

to your customers faster, without relying on UPI apps?

If you answered yes to the first three fundamental questions,

and more, then we can assure you that Turbo UPI would be a
good fit for your business. For some industries in particular, the
product is a natural fit. More on this in the next section!

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 Key Industries 01

Investments & Mutual Funds

Turbo UPI has the potential to revolutionize the way payments are made in
the investments industry. Currently, up to 4% of payments fail due to

non-compliance with the mandatory third-party check leading to an

“account mis-match error”. What this means is that users tend to switch
between the accounts they have registered & those they choose to transact
from on third-party UPI apps. There is no way to prevent this currently,
because every UPI transaction must be routed through an external app.

With Turbo UPI's Account Match-Pro feature, businesses gain precise control
over which account a user registers and ultimately uses for checkout. This
virtually eliminates the chances of payment failures due to TPV failures. As a
result, businesses can expect a substantial increase in their top-line revenue,
while investors enjoy a hassle-free and streamlined checkout process.

This innovation not only addresses a critical pain

point but also creates a win-win scenario for

both businesses and investors.

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 Online Travel Aggregators
The OTA industry is characterized by low to high ticket
transactions, depending on the travel requirement. This
inherent variability and the unpredictability associated with
travel transactions often results in OTA businesses grappling
with significant volumes of refunds and chargebacks, which
can adversely affect their overall revenue. Moreover, customers
must engage in a constant battle of “fastest-fingers-first” to
secure reservations. Every second is of the essence because
prices are dynamic, and businesses work towards delighting
customers with a faster payment experience.

With Turbo UPI, payments are processed 5x faster,

reducing the time to checkout significantly. Moreover, by
unlocking UPI Mandates on the Turbo UPI experience,
customers can reserve their tickets in advance without

Key Industries 02
the need for immediate payment. In this way, businesses
can better accommodate the fluctuating nature of travel
bookings, improving conversions, and gaining a valuable
edge in the industry.

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 K e y I n d u s t r i e s 0 3

E-Commerce

In the fiercely competitive

By enhancing the checkout process, Turbo

e-commerce industry, businesses UPI reduces cart abandonment rates &

often vie for users by offering enables customers to make purchases in a

discounts and freebies. While single step, aiding in flash sales &

these tactics can help build a boosting conversion rates! Because the

dedicated and engaged customer user directly links their bank account to

base, a common challenge arises make a payment, businesses can identify

when customers employ multiple unique users & ensure that they do not

logins to take advantage of these take advantage of offers.

offers.

Moreover with UPI apps

fast-entering the space of ecommerce &

competing with incumbents, businesses

can also reduce their reliance on third-

party UPI apps and gain greater control

over the payment journey, & retain their

customers.

13
 Additionally, the upcoming

Multi-Debit Mandates feature on

For cab aggregators, payments via Turbo UPI takes the user experience to
UPI are most common among riders the next level. It enables consumers to

due to the low ticket size & ease in pre-authorize payments up to a

user experience. However, a rider specified upper limit with a single
must go through multiple redirections effort, ensuring subsequent payments
to make a UPI payment, today.

are processed seamlessly without the

need for additional user input.

By eliminating the need to redirect to

external apps, Turbo UPI speeds up
the payment process and minimizes
disruptions during the ride. This
convenience can lead to higher
customer retention and increased
usage of cab services.
This advancement enhances the
overall seamlessness of Turbo UPI,
allowing cab aggregators to maintain
control over the payment journey,
further enhancing user trust and
overall platform experience.

Key Industries 04

Cab Aggregators
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 Food & Grocery Delivery
Key Industries 05

The food and grocery delivery industry thrives

on rapid, high-frequency payments from a
recurring customer base. Customers often seek
a swift ordering process, driven by
convenience and speed. Given the frequent
nature of these payments, businesses
constantly aim to provide an exceptional user
experience. 

Turbo UPI optimizes the payment process,

enhancing speed and convenience for
customers. With a streamlined 1-step
payment experience within the app,
customers can place orders seamlessly,
minimizing the risk of order abandonment.
Platforms can leverage Turbo UPI to elevate
customer satisfaction, drive order frequency,
and ultimately boost overall revenue.

15
 Recharges & Utility Turbo UPI provides a significant advantage to
mobile recharge and bill payment platforms by
expediting transactions, enabling users to swiftly
recharge accounts and settle bills. The
streamlined 1-step payment process minimizes
friction, encouraging users to engage in more
frequent recharges.

Key Industries 06

Moreover, with the introduction of UPI Lite on

Turbo UPI, businesses can address a critical pain
point: serving customers who have forgotten to
recharge before their data pack expires. This
feature allows lightning-fast payments even
without internet access, offering a solution to a
common issue and enhancing the user experience.

*New features mentioned such as Mandates, UPI Lite, Multi-Debit Mandates etc are in the pipeline & will
be supported on UPI Plugin in the future, subject to changes from NPCI.
16
 Opportunity Cost:

What do you lose by not

adopting Turbo UPI?

Support new customer use-

cases & increase market share

Just as UPI Intent has become the norm over

UPI Collect, in-app payments powered by the Depending on the industry,

UPI Plugin is the future of UPI.

businesses must support different

payment use-cases to improve

The decision to adopt or not adopt Turbo UPI is
customer experience.

more than just a choice between two options; it

carries significant opportunity costs that can

With Turbo UPI enabling
impact a business's long-term success. By
businesses to reclaim their
opting not to embrace this innovative payment
checkout by removing the UPI App
platform, businesses may inadvertently forego a
layer, you can support use-cases
multitude of advantages that could enhance

better & go to market faster. Not

their competitiveness and financial

performance. choosing to be an early adopter

here, could mean that you lose

market share to your competitors.

02
Improve conversions,

increase top-line

Don’t miss the opportunity to

significantly streamline
03
transactions & experience a
Improve customer lifetime
success rate increase of ~10%,
value, reduce churn
directly impacting your top-line.

By not adopting Turbo UPI, Customer acquisition costs are

businesses may find themselves skyrocketing; more & more

stuck with slower, manual businesses are now prioritizing

payment methods that hinder retaining existing customers over

operational efficiency. This acquiring new ones.

inefficiency can translate into

higher operational costs and Payments can often be a critical

lower profit margins over time. point of failure for end-users; thus,

providing an enhanced payments

experience can move the needle on

improving customer lifetime value

& retention.

17
 04
05
Safeguard your
user data
Incumbent UPI Apps are fast
becoming consumer apps &
expanding into new sectors like
insurance, e-commerce, online Provide an elevated
travel aggregation, and checkout experience, stay
investments, potentially making ahead of competition
them direct competitors.

Given the lack of control over the Another critical aspect is the
UPI checkout process today, these competitive landscape. In many
apps have access to your customer industries, staying ahead of the
data, and could pose a significant competition is paramount.

threat to your business.

Failing to adopt Turbo UPI might

Turbo UPI offers a distinctive
solution to secure your customer
data while maintaining a seamless
and familiar UPI experience.
give competitors who are
quicker to adapt a distinct
advantage. It can also affect a
business's image in the eyes of
tech-savvy consumers who
equate modern payment options
with a company's commitment
to innovation and customer
satisfaction.

In conclusion, the opportunity cost of not choosing to adopt Turbo UPI is

multifaceted. It involves missing out on a growing customer base, operational
inefficiencies, a potential competitive disadvantage, and direct top-line impact.

While the decision to adopt any technology should be carefully considered,

ignoring the benefits of Turbo UPI could be a costly mistake in the

fast-evolving world of digital payments.

18
 The Razorpay Advantage:
Why Turbo UPI is the best choice
First To By recognizing the potential of UPI early on and developing a cutting-edge
solution like Turbo UPI, we’ve gained a head start among our competitors in the
Market & UPI Plugin space, and are now industry pioneers. This means that as early
adopters, you get to leverage this technology quickly, and gain a competitive
Live! edge. We have several businesses going live with this technology, giving you the
opportunity to be ahead of the curve & learn from your peers.

What about competition? Our competitors will require time to go live with their
own solutions & achieve stability, which puts forth a significant lead time
before you can adopt their solution with confidence. This means leaving money
on the table, in terms of revenue & providing users a seamless experience.

Turbo UPI is powered by the Axis-Olive Switch, which lends a significant Faster
advantage in optimizing the mandated device binding process. By leveraging
the extensive user base of 10-12 million existing handles on the Axis-Olive User
Switch, Turbo UPI ensures that a large fraction of your customers are likely to
bypass the "bank selection step," reducing the number of potential drop-offs. Adoption
This advantage is likely to strengthen user adoption & reduce friction points.

What about competition? Current competitors are powered by new UPI

Switch providers, which have close to 0 existing handles. This means,

end-users must go through an additional step to select their bank account,

increasing the chances of drop-offs significantly.

Bundled Razorpay boasts an extensive suite of payment products covering various

facets of financial transactions. Our primary aim is to deliver the highest return
Offerings on investment (ROI) for your payment needs, a commitment that underpins our
approach to pricing Turbo UPI. We are thrilled to offer tailored bundled
solutions designed specifically for your industry. These solutions enable you to
explore a diverse range of our products precisely matched to your
requirements, ensuring that you secure the most advantageous deal possible. If
you're interested, please reach out to us – we're eager to help you.

What about competition? Our competitors neither offer a product suite as

wide as Razorpay, nor can they address multiple facets of your payment
requirements as we can. When considering options, this should be a critical
consideration.

19
Get started with Turbo UPI

in less than a week!

Submit a few critical

Go
1 3
0 documents required by
0 Live!
NPCI.

2 4
0 0

Close commercials & Integrate the Turbo

UPI SDK & test all

welcome onboard!

payment flows.

Pre-Go-Live Support Post-Go-Live Support

Expertise
Continuous Assistance

Our integrations team are experts in Post go-live, having a dedicated

assisting you with support on all things support team is essential. They can

Turbo UPI. They understand the assist with any issues or questions

intricacies of the system, potential that may arise as your system is

challenges, and best practices.

used in a live environment.

Collaboration
Issue Resolution

They will work closely with your team, If you encounter problems or have

including developers, project managers, inquiries, the support team can

and other stakeholders, to ensure that efficiently address them, helping to

the integration process is seamless, maintain a positive user experience.

and address issues early in the process.

Updates and Maintenance

Problem-Solving

The support team will keep you

In case of unexpected issues or informed about updates, or

roadblocks during integration, our team improvements to Turbo UPI and

can troubleshoot and find solutions provide guidance on how to

quickly, minimizing downtime. implement them effectively.

20
 Join the UPI Revolution.
It’s just the beginning.
We are at the very beginning of our journey on Turbo UPI, and you can
be too! Before you know it, in-app payments are all set to become the
norm in UPI. If you’re interested in turbo-charging your UPI payments,
join us & become change leaders.

SleepyCat
Razorpay Trusted Business

Axis Bank

₹ 1,850 Pay Now

View Details

21