UPI Switch acts as an intermediary that routes transaction requests between banks and payment service providers. It ensures that the transactions are processed efficiently and securely by connecting different entities within the UPI ecosystem. The switch verifies the transaction details and facilitates real-time fund transfers.
By streamlining communication between multiple stakeholders, UPI Switch grants seamless interoperability and reduces the chances of transaction failures. It plays a central role in maintaining the reliability and scalability of the UPI network. This is essential for handling large volumes of digital payments.
