UPI 2.0 - ICICI Bank announces ICICI Appathon 2...

UPI 2.0 - ICICI Bank announces ICICI Appathon 2019 winners

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UPI 2.0 – ICICI Bank announces ICICI Appathon 2019 winners:

The ‘Grand Finale’ of the ‘ICICI Appathon 2019’ saw Sreejith PP & Vivek Aithal from Bengaluru; Vaibhav Maheshwari & Ujjwal Kumar from Surat and Rishabh Singh from Chennai taking home the top honours for developing the next generation banking applications focusing on UPI 2.0.

ICICI Bank announced the winners of ‘ICICI Appathon 2019’, the third season of its mobile and web application development challenge.

Over 400 participants including developers and start-ups from across the globe took part in the contest which offered more than 100 APIs (Application Programme Interface) from the Bank as well as programme partner Experian Credit Information Company of India. The participants created innovative working prototypes of mobile and web applications around new features of UPI 2.0 such as pre-authorization of a UPI transaction, verifying details of an invoice before paying, linking an overdraft account to UPI and additional security in the form of signed intent/QR while making a payment. The eminent jury adjudged the winners on the basis of five criteria: innovation around UPI 2.0, functionality, business potential, relevance & scalability and user experience.

https://i.imgur.com/8agq0tS.jpg

The jury comprised of Anup Bagchi, Executive Director, ICICI Bank; B. Madhivanan, Chief Technology & Digital Officer, ICICI Bank; Sai Sadagopan, Head – India Digital, TCS; Sunil Mishra, Head – Ecosystem Innovation Group, Infosys Finacle; Amey Mashelkar, Head, JioGenNext; Ashish Singhal, Managing Director, Experian Credit Information Company of India and Balaji V. V., Head – Business Technology Group, ICICI Bank.

The first winning application focused on bid and auction model for booking a cab via any ride hailing app. The first runner up emphasized on using feature of UPI 2.0 to link UPI to OD account while the second runner up focused on enabling UPI payments without internet.

B. Madhivanan, Chief Technology & Digital Officer, ICICI Bank said, “We at ICICI Bank continue to seek opportunities to partner with the wider fintech ecosystem to re-imagine, ideate and execute things which interest our customers and add value to them. In line with this vision, we have been conducting ICICI Appathon for the last three years. The programme has enabled us to tap into the minds of talented technopreneurs in the country as well as developers globally and helped us cater to our customers better.

We are extremely happy to note the interest that ICICI Appathon has garnered this year with over 400 participants. We have got some interesting ideas which we believe will enable development of breakthrough solutions using UPI 2.0 that will make banking simpler than ever before. We will continue to promote innovation in every aspect of our business and ICICI Appathon will continue to evolve as a perfect platform for the young and creative minds to come together and showcase their innovations.”

Venkatramana Gosavi, Senior Vice President & Global Head of Sales, Infosys Finacle said “Digitisation is transforming the banking business, enabling banks to augment and enrich their value propositions through ecosystem offerings. As the principal technology partner for ICICI Bank, we are happy to continue our support towards the ICICI Appathon, now in its third edition. It has proven to be a global platform to enable startups, independent developers and other players to convert their ideas into real world propositions”.

“TCS is delighted to be the title partner for the third edition of the ICICI Appathon. This collaboration with ICICI Bank harnesses the abundance of innovation talent available within India’s start up ecosystem and developer community, and opens up entrepreneurial opportunities in the exciting world of next generation payments. Congratulations to all the winners”, said Ujjwal Mathur, VP & Country Head – India Business, TCS.

The top three winners will get the following rewards:

Total prize money of over Rs 10 lakh from TCS, Infosys EdgeVerve and Experian.
A potential engagement opportunity with ICICI Bank.
An opportunity for the finalists to get a fast-track entry to Finacle ‘Fintech Connect’, a programme for FinTechs to co-innovate with Finacle to accelerate banking innovation.
As ‘ICICI Appathon’ APIs were available on a developer platform, over 400 participants took part in it from across the globe. While nearly half of the participants were among the age-group of 20-29 years, nearly 20% participated from non – metro cities like Rae Bareli, Nagpur, Erode and other places. Further, it also witnessed significant participation from women technopreneurs also.

17 Comments  |  
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Deal Subedar
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Wtf. 1st for cab. Shit.mf Do all just book cab on upi?? R people nuts??
Using upi without internet. Sms or ussd?? Already there. What is OD??

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P_A_N_K_A_J wrote:

Wtf. 1st for cab. Shit.mf Do all just book cab on upi?? R people nuts??
Using upi without internet. Sms or ussd?? Already there. What is OD??

Overdraft account

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P_A_N_K_A_J wrote:

Wtf. 1st for cab. Shit.mf Do all just book cab on upi?? R people nuts??
Using upi without internet. Sms or ussd?? Already there. What is OD??

Govt also plans to make UPI QR codes mandatory for shops & restaurants and I think it should be UPI 2.0

OD means Overdraft account.
LINKING OVER-DRAFT ACCOUNT ON UPI

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P_A_N_K_A_J wrote:

Wtf. 1st for cab. Shit.mf Do all just book cab on upi?? R people nuts??
Using upi without internet. Sms or ussd?? Already there. What is OD??

I think USSD.

but currently, 4G LTE not support USSD

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Deal Major
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I am hardly finding any major supermarkets nearby having UPI as payment option
Yes there are few small stores but not major ones
Everyone is preferring Paytm, not a bad option though because of PayTm Postpaid

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getready wrote:

I am hardly finding any major supermarkets nearby having UPI as payment option
Yes there are few small stores but not major ones
Everyone is preferring Paytm, not a bad option though because of PayTm Postpaid

I think approx all supermarkets support UPI payment through UPI-QR code (Paytm QR code also support UPI).

but now Govt plans to make UPI QR codes mandatory for shops & restaurants.

RBI also releases ‘Vision 2019-2021’ for payment systems for ‘cash-lite’ society

RBI’s ‘Vision 2019-2021’ 2nd point mentioned Accelerated growth in individual retail electronic payment systems: UPI is expected to grow, on an average annualised basis, over 100%, and NEFT at 40%, till December 2021. The number of digital transactions is expected to be 8,707 crore in December 2021.

and 16th point Widen scope, use and reach of domestic cards, for action by NPCI: RBI will focus on enhancing the scope, coverage and usage of domestic cards, including the RuPay card scheme.

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getready wrote:

I am hardly finding any major supermarkets nearby having UPI as payment option
Yes there are few small stores but not major ones
Everyone is preferring Paytm, not a bad option though because of PayTm Postpaid

Shops accept postpaid? For me only wallet balance can be used & postpaid not allowed.

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_One_Miller_ wrote:

Shops accept postpaid? For me only wallet balance can be used & postpaid not allowed.

They do
Initially it didn’t work but after couple of weeks, postpaid option started showing

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getready wrote:

They do
Initially it didn’t work but after couple of weeks, postpaid option started showing

Nice. Will Try it.

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abhishek012 wrote:

Govt also plans to make UPI QR codes mandatory for shops & restaurants and I think it should be UPI 2.0

OD means Overdraft account.
LINKING OVER-DRAFT ACCOUNT ON UPI

ICICI Paylater facility is basically an overdraft current account linked to an UPI ID. the facility is already rolled out to existing customers.

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_One_Miller_ wrote:

Shops accept postpaid? For me only wallet balance can be used & postpaid not allowed.

user specific, depending on internal algorithm of paytm

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getready wrote:

I am hardly finding any major supermarkets nearby having UPI as payment option
Yes there are few small stores but not major ones
Everyone is preferring Paytm, not a bad option though because of PayTm Postpaid

almost all supermarkets support either phonepe or paytm or both. both apps support UPI payments.

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panchabhut wrote:

almost all supermarkets support either phonepe or paytm or both. both apps support UPI payments.

Was referring to UPI QR Codes (Bharat QR) over there
For PayTm you need Payments bank account n even with one that option was always greyed out for me (May be because UPI needs sim verification)
Phonepe I have never seen any major store in my location having it (Bengaluru, somewhat prime area)
Its hard to even find any store with phonepe (including small general stores)
I remember only one store used to have this phonepe banner (Apollo Pharmacy) n everytime I have asked they used to keep saying, it doesn’t work. Same experience with MedPlus Pharmacy
But you will find PayTm QR Codes almost anywhere

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getready wrote:

Was referring to UPI QR Codes (Bharat QR) over there
For PayTm you need Payments bank account n even with one that option was always greyed out for me (May be because UPI needs sim verification)
Phonepe I have never seen any major store in my location having it (Bengaluru, somewhat prime area)
Its hard to even find any store with phonepe (including small general stores)
I remember only one store used to have this phonepe banner (Apollo Pharmacy) n everytime I have asked they used to keep saying, it doesn’t work. Same experience with MedPlus Pharmacy
But you will find PayTm QR Codes almost anywhere

UPI has Interoperability features.

NPCI can’t reach everywhere thats why they give UPI Interoperability feature to Paytm, Phonepe, GooglePay, Freecharge & upcoming Whatsapp pay.

(few days ago i receive msg from freecharge, all freecharge merchants now support UPI through freecharge scan & pay)

GooglePay Now support At Over 300,000 Offline Stores in India

GooglePay running pilots with small merchants across Bengaluru and New Delhi, mainly bringing in merchant payments through the Google Pay merchant mode.

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panchabhut wrote:

ICICI Paylater facility is basically an overdraft current account linked to an UPI ID. the facility is already rolled out to existing customers.

yes, GooglePay also planning to launch overdraft current account facility same like ICICI paylater.

Axis, SBI, yesbank, kotak bank may be also launch Digital UPI 2.0 based credit facility.

Axis, SBI, yesbank, kotak bank already under beta testing to launch UPI 2.0.

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abhishek012 wrote:

UPI has Interoperability features.

NPCI can’t reach everywhere thats why they give UPI Interoperability feature to Paytm, Phonepe, GooglePay, Freecharge & upcoming Whatsapp pay.

(few days ago i receive msg from freecharge, all freecharge merchants now support UPI through freecharge scan & pay)

GooglePay Now support At Over 300,000 Offline Stores in India

GooglePay running pilots with small merchants across Bengaluru and New Delhi, mainly bringing in merchant payments through the Google Pay merchant mode.

Its not about providing the options, where is the awareness ?
If you take a general survey, you will find 90%+ PayTm users using PayTm Balance for scan n pay

After FC stopped giving offers, many removed FreeCharge payment option from their stores.
Same happened with MobiKwik after the SC hype ended

Google Pay solely operations via UPI, so with or without knowledge you are using the feature.

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getready wrote:

Was referring to UPI QR Codes (Bharat QR) over there
For PayTm you need Payments bank account n even with one that option was always greyed out for me (May be because UPI needs sim verification)
Phonepe I have never seen any major store in my location having it (Bengaluru, somewhat prime area)
Its hard to even find any store with phonepe (including small general stores)
I remember only one store used to have this phonepe banner (Apollo Pharmacy) n everytime I have asked they used to keep saying, it doesn’t work. Same experience with MedPlus Pharmacy
But you will find PayTm QR Codes almost anywhere

to make UPI payments through paytm you DO NOT require Paytm Payments Bank. Any bank can be linked to Paytm UPI. It works even if the paytm wallet itself is non-kyc. However, as per UPI requirement, the SIM of the registered mobile number must be present in the handset for UPI to work.
Spencers, Big Bazaar and More support Phonepe. DO not know about other supermarkets.

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