• Objective

    The objective of this module is to provide banks and financial institutions with a unified API-based framework for processing fund transfers across multiple payment modes—NEFT, RTGS, IMPS, and UPI.

    This framework enables banks to initiate, update, reverse, and refund transactions seamlessly, ensuring compliance with regulatory requirements while offering real-time visibility and control over settlements.

  • Scope

    The solution covers both inward and outward transaction flows:

    • Outward Transactions – Customer initiated fund transfers from CBS to external accounts.
    • Inward Transactions – Credits received from other banks/payment systems into customer accounts.
    • Supported payment systems:
      • NEFT (Batch Settlement – RBI)
      • RTGS (Real-Time Gross Settlement)
      • IMPS (Immediate Payment Service – NPCI)
      • UPI (Unified Payments Interface – NPCI)

  • Key Modules

    • UPI & Bharat QR Generation
      • Provides APIs for static and dynamic QR generation for UPI and Bharat QR.
      • Allows customers to pay merchants by scanning QR codes.
      • Merchant details, amount, and reference information embedded securely in QR.
    • UPI Inward Initiation
      • Handles incoming UPI push credits.
      • Performs transaction validation, customer account mapping, and posting to CBS.
      • Includes failure handling for reversals, chargebacks, and retries.
    • UPI Settlement
      • Real-Time Settlement: Direct posting of funds into beneficiary accounts in real time, with reconciliation against NPCI switches.
      • T+1 Settlement: Deferred settlement process, where funds are batched and posted the next business day.
      • Includes automated reconciliation reports and regulatory compliance formats.
    • Payee Management (OneStack – OTP)
      • Secure payee registration and management.
      • OTP-based two-factor authentication for adding/modifying/deleting beneficiaries.
      • Links payees to VPAs, accounts, or MMID as per customer needs.
    • Fund Transfer (OneStack – OTP)
      • Initiation of customer fund transfers to registered payees.
      • OTP authentication ensures enhanced transaction security.
      • Supports both account-based and VPA-based transfers.
    • IMPS – MMID
      • Provides fallback mechanism for IMPS-based transfers via MMID
      • Ensures wider interoperability and continuity of digital services.

  • UPI 1.0 - OneStack (Acceptance Only)

  • UPI 2.0 - NPCI