Page 21 - Banking Finance March 2021

PRESS RELEASE

PhonePe partners with Axis Bank on UPI Multi-Bank

PhonePe, India’s leading digital payments platform, today
announced that it has partnered with India’s third largest bank,
Axis Bank on UPI multi-bank model giving its users the option to
create and use multiple UPI IDs with Axis Bank’s “@axl” handle.
In addition, PhonePe will also start acquiring merchants with Axis
Bank in addition to its partnership with YES Bank. This is in line
with the company’s philosophy of offering users and merchant
partners a seamless transaction flow. Collaborating with multiple
banking partners will further strengthen the overall service
reliability and uptime of PhonePe's offering.

Commenting on the announcement, Hemant Gala, VP Financial Services & Payments, PhonePe said, “At PhonePe,
our foremost priority is to provide the best in class payments experience to our users. We are excited to partner with
Axis Bank to provide our users an option to create and transact using @axl handle on PhonePe. Our platform now enables
the users to choose between multiple handles for their UPI transactions on the multi bank model. This partnership with
Axis Bank will ensure greater business continuity for both our customers and merchant partners making their transaction
experience seamless.”
Speaking on the partnership, Sanjeev Moghe, EVP & Head – Cards & Payments, Axis Bank said, “It is our
constant endeavour at Axis Bank to build on strategic alliances and digital solutions that help us meet our customers’
ever-evolving needs. This collaboration with PhonePe strengthens our commitment towards digitization of the Indian
payment ecosystem. It will help expand our reach to customers and the merchant community, while offering secure and
seamless payment experiences. “

Training Programme at HUDCO organised by DoPT
The Housing & Urban Development
Corporation Ltd is organizing a week-long in-
service training programme for All India
Service Officers from 22nd-26th February,
2021, through its Research and Training
wing (Human Settlement Management
Institute). The programme sponsored by
Department of Personnel & Training, Govt
of India on 'Cities of Tomorrow- Equitable,
Sustainable and Resilient'aims to sensitize
the officers towards sustainability, equity
and disaster risk reduction in cities to meet
future challenges.
Speaking at the inaugural function, Shri Durga Shanker Mishra, Secretary Ministry of Housing & Urban Affairs (MoHUA)
highlighted the need to recognize the distinct individual character of each city while planning for the future. He stressed
the need to make 'Smart Thinking' a movement that can ensure optimal utilization of resources. Further, Shri Mishra
urged city managers to use technology and innovation to create inclusive & resilient cities to propel the country to a $5
trillion economy.
Addressing the participants, Additional Secretary and Chairman & Managing Director, HUDCO, Shri Kamran
Rizvi,reiterated the need to make cities people centric and urged city managers to develop a roadmap that would catalyze
the development of inclusive and liveable cities.

BANKING FINANCE | MARCH | 2021 | 21