India’s UPI Revolution Reaches Stocks: Beta Launch of ‘UPI for Secondary Market’ Announced

The National Payments Corporation of India (NPCI) has announced the beta launch of the ‘UPI for Secondary Market’ slated for January 1, 2024. This innovative step marks a significant milestone in the integration of digital payments into the Indian equity market.

Key Features and Benefits

  1. Pilot Phase and Customer Participation: Initially, the service will be available to a select group of pilot customers. Investors during this phase can block funds in their bank accounts, which will only be debited upon trade confirmation during settlement by Clearing Corporations.
  2. Settlement Process: Clearing Corporations are responsible for processing payouts to clients on a T+1 basis, ensuring swift settlement of trades within one day of transaction completion.
  3. Collaborative Effort with Major Stakeholders: The launch is supported by key stakeholders, including clearing corporations, stock exchanges, depositories, stockbrokers, banks, and UPI app providers. This broad-based support is essential for the seamless integration of the system into the existing market infrastructure.

Access and Functionality

  • Participating Platforms: The beta phase can be accessed through the trading app Groww, with NPCI’s BHIM app, Groww, and YES PAY NEXT as UPI apps. HDFC Bank and ICICI Bank customers will be the first to avail of this facility.
  • Sponsor Banks: HDFC Bank, HSBC, ICICI Bank, and Yes Bank are acting as sponsor banks for clearing corporations and exchanges.
  • Future Expansion Plans: Stockbroker Zerodha and customer banks like Axis Bank are currently in the certification stage and will join the beta launch soon. UPI-enabled apps like Paytm and PhonePe are also preparing to participate.

The Implication of This Launch

This initiative is a significant step forward in enhancing the efficiency of the equity market in India. The integration of UPI, a widely accepted digital payment system, into the secondary market is expected to streamline processes and increase accessibility for investors. This move is in line with NPCI’s ongoing efforts to expand the scope and reach of digital payments in India.

Looking Ahead

As this new system takes shape, its success will largely depend on the seamless collaboration between various stakeholders and the adaptability of the market participants. The beta phase will be a critical period for assessing the functionality and impact of this new initiative on the equity market ecosystem.

Share:

MORE STORIES

## Navigating the AI Revolution: 5 Trending Google Ads Topics for Marketers As Google Ads continues its rapid evolution, staying ahead of the curve is paramount for digital marketers. The platform’s increasing reliance on artificial intelligence, shifting privacy landscapes, and the introduction of new campaign types are creating a fresh set of challenges and opportunities. Here are five top trending blog topics that delve into the most critical areas of Google Ads today. ### 1. The Rise of the Machines: Mastering AI-Powered Campaign Types Google is unequivocally betting on AI to drive the future of its advertising platform. A key area of focus for marketers is understanding and mastering AI-driven campaign types like Performance Max and Demand Gen. These campaigns automate targeting, bidding, and ad creation across Google’s entire inventory. A deep dive into strategies for providing the right inputs to these “black box” models, interpreting their performance, and understanding how to guide the AI for optimal results is a crucial topic for advertisers looking to succeed in this new era. ### 2. Beyond the Click: Navigating the New Landscape of Measurement and Attribution With the impending deprecation of third-party cookies and a growing emphasis on user privacy, the way advertisers measure success is undergoing a fundamental shift. This has propelled topics like enhanced conversions, consent mode, and the integration of first-party data to the forefront. Marketers are actively seeking guidance on how to implement these privacy-centric measurement solutions to gain a more accurate and holistic view of their campaign performance in a world without granular user tracking. ### 3. Creative is the New Targeting: Leveraging AI for Compelling Ad Experiences In an automated world, the creative has become a key differentiator. Google is investing heavily in AI-powered tools that can generate and optimize ad copy, images, and videos. Blog posts that explore how to effectively use these generative AI features to create a high volume of diverse and engaging ad creatives are gaining significant traction. This includes best practices for providing creative inputs, A/B testing AI-generated assets, and ensuring brand consistency across automated campaigns. ### 4. The Evolution of Search: Adapting to a More Conversational and Visual SERP The traditional keyword-based search is evolving. Users are increasingly employing longer, more conversational queries, and Google is responding with a more visual and AI-driven search engine results page (SERP). This shift requires a re-evaluation of traditional keyword research and bidding strategies. Trending discussions revolve around how to adapt to this new reality, including the role of broad match keywords, the importance of high-quality creative in visual search formats, and strategies for capturing intent in a more conversational search landscape. ### 5. Future-Proofing Your Strategy: The Growing Importance of a Full-Funnel Approach As automation takes over many of the manual levers within Google Ads, the focus is shifting towards a more strategic, full-funnel marketing approach. Advertisers are looking for insights on how to effectively use different Google Ads campaign types to guide users through the entire customer journey, from initial awareness to final conversion and retention. This includes discussions on how to structure campaigns to complement each other, allocate budgets across the funnel, and measure the impact of upper-funnel activities on bottom-line results.

Google Ads is in the midst of a quiet revolution—one driven by artificial intelligence, privacy-first regulations, and a rapidly changing search landscape. For digital marketers,

Send Us A Message