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Business News/ Insurance / News/  Star Health launches UPI QR code payment option for insurance purchases. How does this work?
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Star Health launches UPI QR code payment option for insurance purchases. How does this work?

Star Health launches dynamic UPI QR code-based payment option for insurance purchases and renewals, simplifying the customer experience

Picture for representation. Star Health launches UPI QR code: With a simple scan of the customized code, customers can make payments within a few seconds. Premium
Picture for representation. Star Health launches UPI QR code: With a simple scan of the customized code, customers can make payments within a few seconds.

Star Health and Allied Insurance on Thursday announced a significant move towards transforming the insurance payment landscape with the launch of its dynamic UPI QR code-based payment option for policy purchases and renewals. The customized solution simplifies the customer purchase experience with a few clicks. Star Health also launched personalized UPI payment intent links to enhance customer ease. This cutting-edge initiative, enabled by the National Payments Corporation of India (NPCI), represents a paradigm shift in the adoption of modern technology-driven payment solutions. 

“We are delighted to introduce our dynamic QR code & intent link-based UPI payment options. At Star Health, we prioritize the safety and convenience of our customers, and the adoption of customized UPI payment solutions reflects our dedication to providing seamless, efficient, and secure payment experiences," said Anand Roy, MD & CEO of Star Health & Allied Insurance Co. Ltd.

“Embracing UPI payments aligns perfectly with the Government's 'Make in India' vision and IRDAI's transformative goals for the Insurance sector," added Chitti Babu, Chief Innovation Officer, Star Health & Allied Insurance Co. Ltd

“Unified Payments Interface (UPI) has gained significant popularity as one of the most preferred modes of payment in the country, owing to its convenience and wide acceptability. We are delighted that customers of Star Health and Allied Insurance will now have swift access to UPI-based payment options for their insurance-related transactions," said Kunal Kalawatia, Chief of Products, NPCI.

How can customers make payments via UPI QR-based Payments?

-With a simple scan of the customized code, customers can make payments within a few seconds, ensuring a hassle-free, error-free, and efficient experience.

-Upon clicking the link, the UPI app launches promptly, and in cases where multiple UPI apps are present, customers are prompted to choose their preferred app. 

-The payment details, including the premium amount, are automatically loaded into the chosen app, and customers can authenticate the payment using their UPI PIN, culminating in a seamless purchase experience.

 

 

 

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Published: 14 Sep 2023, 01:04 PM IST
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