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NEW DELHI: Yes Bank on Thursday said it has collaborated with Amazon Pay and Amazon Web Services (AWS) to offer customers instant payment system via Unified Payment Interface (UPI).

The integration will enable Amazon Pay to issue UPI IDs with the @yapl handle and allow customers to make secure, fast and convenient payments, the bank said in its statement.

"The collaboration with Amazon Pay and AWS marks another milestone for Yes Bank, among the market leaders in UPI payments. In FY2020-21, Yes Bank recorded a market share of around 40% by volume in the UPI ecosystem and around 30% by volume in the UPI merchant acquiring business," the private sector lender said.

Yes Bank will be able to acquire merchants through the Amazon Pay platform, helping it expand its presence in the UPI merchant business segment.

“…Yes Bank is pleased to announce its partnership with Amazon Pay and AWS. With this collaboration, we will be able to offer our customers more control, flexibility and choice for a vast range of purchases and peer-to-peer transactions – through UPI-based payments," said Prashant Kumar, managing director and chief executive, Yes Bank.

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