Payomatix is a well-known digital payment solutions in India. Their all-in-one UPI payment gateway offers seamless UPI solutions, ensuring a superior experience for users. A UPI (Unified Payments Interface) payment gateway helps to transfer money instantly and securely between a customer’s bank account and a merchant’s bank account.
Know more: https://payomatix.com/upi-solutions/
To process a payment, a UPI payment gateway links the customer's bank account to the merchant's bank account. This is how it operates:
1. Payment Initiation: The consumer enters their UPI ID and chooses the UPI option at checkout.
2. Payment Request: The customer's UPI app receives a payment request from the UPI payment gateway.
3. Authorization: The consumer checks the payment information and confirms the transaction by inputting their UPI PIN after receiving a notification on their UPI app.
4. Transaction Process: The money is immediately transferred from the consumer's bank account to the merchant's account as soon as the client approves the payment.
5. Confirmation: The successful payment is acknowledged by the business and the client.