Axis Pay: The Bliss Of UPI Amidst The Horror Of Demonetization

Demonetisation came as a major hit, not just for the average earners but for anyone and everyone using cash in their day to day lives. For small business holders and traders, it is a devastating blow that affected their business immensely. Amidst all this chaos, where making payments and transactions become a nightmare for everyone, Axis Bank came up with a smart way for making payments easy for the common man with Axis Pay.

While online wallets were thinking about expanding their businesses, Axis bank brought together every bank using UPI or Unified Payment Interface in one single app, that allows you to make payments and receive money a piece of cake. For those who are not aware, Unified Payments Interface (UPI) is payment system by NPCI that allows transfer of funds between accounts in convenient manner. Let's know a little more about it!

As mentioned on the app page,

Axis Bank presents Axis Pay – A Unified Payments Interface(UPI) application that lets you transfer funds from any bank account using a Virtual Payment Address (VPA). No need to remember beneficiary details like account number, IFSC etc. Send or Ask for money using a Virtual Payment Address.

A Virtual Payment Address (VPA) is a unique identifier that you set and link to your bank account. (Example: yourname@axisbank ). Once linked, just quote your VPA instead of account number and IFSC to make or receive payments.

Way easy to use and login!

You will just have to download Axis Pay UPI app from Google playstore. Create unique ID (Name@axisbank) to send and receive money. You can add any bank to the list, as long as they comply with UPI.

For sending money, you will have to select your and reciever's unique Id's, enter amount to be sent, add your MPIN and done!

Receiving money is also easy with the app, Select yours and senders unique id, enter amount to be received and collect money once it is approved by the sender. 

Not just sending and receiving, you can also use UPI to pay online while shopping. Major brands like and many more are accepting money through UPI.

Features of Axis Pay UPI

· No need to share your bank details for sending or receiving money. You can create the UPI Id and share it for transaction.

· There is no need for you to have an account in the Axis Bank. Axis Bank or Non Axis Bank customers can send money or ask for money using the Axis Pay app.

· You can send money to a Virtual Payment Address(VPA) or to an Account Number. No restriction of both parties having the app or UPI.

· Adding beneficiary or payee to your fund transfer list is easier with Axis Bank UPI app. You will not have to remember or ask their bank details, account number and IFSC code. Add beneficiary instantly by just using Virtual Payment Address (VPA).

· You can add multiple bank accounts in single UPI app interface. Checking balance and maintaining them becomes easier with Axis Pay UPI app.

· Fund transfers are instant, 24*7, 365 days and absolutely free of cost unlike NEFT or IMPS and take place in a completely safe and secure way.

How is it better than PayTm or any other wallet?

Well, as we all know, PayTm and other online wallets were the major beneficiaries amidst the chaos of demonetization. But there are still several among us who still not prefer to use online wallets for bill payments and recharges. I personally, prefer to use my bank’s app instead of transferring money to wallet and pay through that. It is an added hassle. Moreover, what if the other person does not use PayTm or online wallet you are using, making it impossible for you to complete the transaction.

Axis Pay UPI is not restricted to Axis Bank only, making it easier for you to make payments to anyone, any bank or any website without hassle. Moreover, both the parties need not have the same UPI app or UPI. Even if one of you have it, the transaction is possible. 

You can listen to Mr. Sangram Singh, Senior VP & Head of Axis Cards describing how Axis Pay UPI app works better than any online wallet. 

Meeting all these people, finest of their fields was really something. The questions, queries and doubts cleared about this new age banking from someone working hard towards making it a big success was surely something. 

Overall, it was a great experience. A perfect mixture of fun, food and finance!

Already few of my friends have downloaded and used this app, while few of them have been using it for quite some time. I really hope that it contributes immensely toward making India a Cashless State!

Lots of Love!!!