YES Bank UPI App – Download UPI App for Yes Bank and Transfer Money Online
Learn about UPI here – What is UPI and what are its benefits?
Yes bank is supposed to be the first bank to launch its own powered UPI application for Yes bank customers which can be used by other bank customers too in case they don’t have Yes bank accounts. The YES bank UPI app is named to be Phonepe.
Phonepe was initially not a YES Bank UPI application but recently YES bank partnered with Phonepe to launch India’s first UPI application for online banking using VPA or Virtual Private Number.
About YES Bank and UPI App for YES Bank
YES BANK’s Exclusive UPI Solution for Merchant Transactions
Mobile App Plug-In/Server APIs
- Simple integration with all merchant apps
- Plug and Play mechanism
- Flexible APIs allowing merchants to innovate
- Allows dynamic, on the fly registrations &
Merchant Portal Dashboard Control
- Comprehensive overview of all transactions
- Real time MIS and settlement reports
- Instant transaction status and alerts
- Registration and supervison of users and sub
The YES BANK UPI Advantage
- Value For Money – Cheaper than other payment mechanisms
- Immersive Experience – End-to-end execution of transactions without leaving the merchant app
- Flexible – Simple & comprehensive APIs allowing merchants to freely innovate as per requirement
- Ease of Use – One step checkout for registered users
|YES Bank UPI FAQ||Answer|
|Can a customer have Multiple Virtual Payment Addresses (VPAs) with multiple banks?||Yes|
|Can one account be linked to multiple VPAs?||Yes|
|Can multiple accounts be linked with one VPA?||Yes|
|Can a customer set MPIN/ reset MPIN?||Yes, using Debit Card credentials|
|Can a customer send money to non UPI Banks?||Yes, if beneficiary Bank is on IMPS|
|Can collection be done using Account No./Aadhaar/Mobile number?||Not currently|
|Can a merchant have a custom UPI handle? (e.g. @merchant name)||Not allowed by NPCI|
|Can UPI be used from a website?||Collect request initiated from website can be authorized on a mobile app|
Download YES Bank UPI App for merchants
Link to download – Download here
YES Bank UPI App for merchants – terms and conditions
- The Merchant shall duly fulfill all Transactions in accordance with the instructions of the Customers and as mutually decided between the Merchant and its Customers and shall not dispute or dishonor them for any reason whatsoever, other than reasons as mentioned herein or upon mutual agreement between the Customer and the Merchant.
- The Merchant shall ensure to keep confidential all information submitted by the Customers on the Merchant’s Platform. The Merchant shall ensure that there are proper encryption and robust security measures to prevent any hacking of the information of the Customers. The Customer shall not be required or asked to disclose any confidential or personal data, which may be prejudicial to the interests of the Customer. The Merchant shall use the Customer’s data only for the purpose of completing the Transaction for which it was furnished, and shall not sell or otherwise furnish such information to any third party.
- The Merchant agrees to put up notices, disclaimers or warranties as may be requested by YES BANK or other relevant parties and shall comply with the aforesaid requests forthwith.
- The Merchant shall take all precautions as may be feasible or as may be directed by YES BANK, the NPCI and other relevant parties to ensure that there is no breach of security of the Merchant’s Platform, YES BANK UPI software and/or the link between both parties is maintained at all times during the term of the contractual arrangement between the Merchant and YES BANK
- The Merchant shall permit the authorized representatives of YES BANK to carry out physical inspections of the place(s) of business and records to verify compliance during normal business hours of the Merchant by giving prior written notice of not more than 3 Business Days. The Merchant shall permit the authorized representatives of YES BANK to audit the Merchant’s Platform to verify compliance to security guidelines by giving prior written notice of not more than 2 Business Days
- The Merchant shall submit a 3rd party security audit report of the Merchant’s Platform once every year unless specifically exempted in writing by YES BANK.
- The Merchant shall provide a reasonable level of service support to the Customers. Such support shall include appropriate notice to Customers of means of contacting the Merchant in the event the Customer has questions regarding the nature or quality of the products and/or services and the procedures for resolving disputes.
- The Merchant agrees and confirms that all risks associated with the delivery of the products and/or services by the Merchant shall be solely that of the Merchant. Any and all disputes regarding quality, merchantability, non- delivery and delay in delivery of the products and/or services or otherwise will be resolved directly between the Merchant and the Customer without making the Bank, the Service Providers and the acquiring banks a party to such disputes.
- The Merchant shall keep the Bank informed of the claims it receives in relation to Transactions or any other matter in connection with the arrangement providing details as may be required by the Bank. However, the Bank shall not be under any obligation to provide any assistance to it in connection with any such claim. The Bank shall provide dispute resolution and other related activities including Chargeback, presentment, pre-compliance, compliance, pre-arbitration and arbitration etc. to the Merchant.
- The Merchant shall give prior written notice to the Bank prior to any change in its constitution or composition or ownership or business or commercial activity. The Merchant shall promptly report to the Bank a fault or suspected fault in UPI services or Software or Merchant’s own platform that can materially affect UPI Transaction(s) already executed or to be executed
- The Merchant shall integrate UPI Software provided by the Bank in a manner that it will not capture, access, and store or try to store, sensitive customer data like Card Details, PIN, Expiry Date, OTP etc. All these details shall be captured only by UPI software provided by the Bank, whereas the Merchant’s Platform shall only facilitate it, without any facility to store the sensitive Customer data.
- 2 The Merchant shall provide all reasonable assistance, and shall ensure that Merchants do the same, to the Bank and for the prevention and detection of fraud in respect of usage of UPI Services and software provided by the Service Providers.
- The Merchant shall enter into Transactions only in Indian Rupees, unless otherwise permitted by the Bank in writing in advance.
- The Merchant acknowledges that the UPI Services may not be uninterrupted, error free or malicious code free and the Bank disclaims all warranties, including but not limited to, merchantability and fitness of the services for a particular purpose. The Merchant also acknowledges that the arrangement between NPCI and the Bank may terminate at any time, and UPI services may be withdrawn, without any prior notice or reason, whatsoever.
- The Merchant agrees and confirms that the Bank shall not be liable to the Merchant or the Merchant for any loss or damage whatsoever or howsoever caused or arising, directly or indirectly, including without limitation, as a result of loss of data; interruption or stoppage of the Customer’s access to and/or use of the Payment Gateway Services; interruption or stoppage of Service Providers or acquiring bank website; non-availability of connectivity between the Merchant’s Platform and the Bank’s software, etc. The Bank does not warrant that the Service Providers facilities and the acquiring bank’s payment mechanism will be provided uninterrupted or free from errors or it is free from any virus or other malicious, destructive or corrupting code, program or macro.
- The Merchant agrees and confirms that the Bank’s sole obligation in the event of interruption in the UPI Services shall be to use all reasonable endeavors to restore the said services as soon as reasonably possibly.
- The Merchant shall follow any and all additional guidelines that are released from NPCI, RBI or any other competent authority or by the Bank in connection with UPI services from time to time, and as communicated by YES BANK in writing. The Merchant agrees and undertakes to ensure compliance of all the aforesaid guidelines by the respective Merchants.
- The Merchant agrees that the Bank reserves its right to suspend the UPI Services provided herein in event the Merchant fails to observe the aforesaid covenants.
- The Merchant agrees and confirms that any Transaction entered by the Merchant, or any of the Merchants, in any of the following circumstances shall be the final responsibility of Merchant. The Merchant agree and confirms to YES BANK charging back the transaction without any demur or protest in the following circumstances for transactions: (a) which are fraudulent, collusive, illegal, misrepresented or otherwise irregular in any manner whatsoever; or (b) in relation to a customer’s complaint or request for an adjustment, which has not been resolved; (iii) which are recorded or submitted otherwise than in accordance with the terms and conditions stipulated by YES BANK.
- The Merchant agrees and confirms that YES BANK reserves the following rights (in accordance with the Regulatory guidelines): (i) Deduct and set off from settlement of funds due to the Merchant; or (ii) Raise an invoice or raise a debit note to recover the amounts outstanding from the Merchant separately; or (iii)Debit the Merchant Current Account, for any of the following amounts: a) The amount of any refunds issued/due to the customer b) Invalid transactions (including Chargeback and our related losses) c) Any fees or charges d) Fees or penalties or fines imposed by and any other regulatory / competent authority/compliances/agencies/ banks etc. for violation of applicable Rules and Regulations or acts or omissions or Chargeback e) Government charges or tax claims f) Over payment by YES BANK due to errors or otherwise g) Extra costs incurred for the Merchant or Merchant transactions related to UPI services, incurred after termination of this agreement h) Any other amounts due from the Merchant to YES BANK
- The Merchant shall ensure that the Transaction information (e.g. Merchant Category Code (MCC), transaction type, payment identifiers, etc.) sent through the APIs or any other mode to the Bank is correct and any claims, demands, disputes, fines or losses incurred due to or arising in connection with supply of any incorrect information sent by Merchant shall be the sole responsibility and liability of the Merchant.
- The Merchant hereby undertakes and agrees to indemnify the Bank, Service Providers and acquiring banks, including their officers, directors and agents hold them harmless and keep the Bank, Service Providers and acquiring banks including their officers, directors and agents at all times fully indemnified and held harmless and keep them fully indemnified from and against all actions, proceedings, claims, liabilities (including statutory liability), penalties, Charge backs, demands and costs (including without limitation, legal costs), awards, damages, losses and/or expenses however arising directly or indirectly, including but not limited to, as a result of: (i)Breach or violation or non-performance by the Merchant or its merchants or their agents or employees, of any of its undertakings, warranties, covenants, declarations, provisions or obligations here under; or (ii) Any claim, penalty, fine, levy or proceeding brought by the Customer or any other person against the Bank, the NPCI, beneficiary and Remitter Banks on account of any act, deed, omission, nonperformance in respect of deficiency in the provision of products and service to its Customers; or (iii)Any act of omission or misconduct or fraud of the Merchant or its agents or Customers; or (iv)Any hacking or lapse in security in the website/software or the Customer data; or (v)Any act, deed, omission or non-performance on the part of the Merchant or its merchants or its customers; or (vi)Failure by the Merchant or any of its Merchant (or any of Merchant’s or its merchants’ officers, employee or agent) to comply with the provision of the terms and conditions including any act, commission or omission, negligence, fraud, forgery, dishonesty, money laundering, misconduct or violation of any of the terms and conditions; the breach of contract or duty by the Merchant or any of its merchant (or any of Merchant’s or its merchants’ officers, employee or agent) to a Customer or any third party; any of Merchant’s representations and warranties being or becoming false or untrue; and any claim from any statutory authority or Customer. Any claim, penalties, fines, assessments, levies etc from NPCI/Banks/schemes pertaining to Merchants’ activity under this Agreement
For full list of terms and conditions, please follow this link – https://goo.gl/ce365n