DigiPay will help improve profitability of UCBs, as it will bring down their Unified Payment Interface, or UPI, transaction costs, reducing switch charges to between ₹0.01 and ₹3, as against ₹0.50 and ₹5, said chief executive of NUCFDC, Prabhat Chaturvedi. DigiLoan introduces a digital loan origination system that lets UCBs process, verify, and sanction loans online.
