Online payments in India run on a national infrastructure designed by the government and central bank. UPI (Unified Payments Interface), operated by NPCI, is the world's largest real-time payment rail, processing over 10 billion transactions a month, and major payment apps such as PhonePe, Google Pay, and Paytm all operate on top of this infrastructure. In an Indian e-commerce market growing more than 20% a year, not supporting UPI is effectively missing out on the mainstream payment customer base.

Given Indian consumers' habit of paying frequently in small amounts, industries with low average order values and high payment frequency—such as digital content, mobile games, and subscription services—see the largest benefit from adopting UPI. Because funds are withdrawn directly from bank accounts, UPI can also capture customers without cards, which is an advantage for online-only businesses. See the comparison table below for how UPI differs from other methods in India.

In their UPI app of choice, the consumer approves payment by entering a UPI ID or scanning a QR code, and funds are withdrawn in real time from their bank account in INR. Hecto Financial receives the resulting payment funds in the local currency (INR), converts them, and settles to the Korean merchant in whichever one of USD, KRW, or JPY was selected under contract. Detailed implementation methods such as UPI PIN authentication and collect requests should be confirmed through technical documentation before integration.

With Hecto Financial integration, a Korean corporate entity can review UPI payment acceptance without establishing a local entity or opening a local bank account in India. However, because UPI is a national infrastructure subject to RBI and NPCI rules, support conditions can vary by industry and transaction volume, so confirmation with the Hecto Financial sales team before contracting is required.

• Business registration country

  Confirm contract eligibility as a Korea-registered business

• Sales channel

  The integration approach differs depending on whether you sell online only or also operate offline stores in India

• Product category

  Advance confirmation is needed to check whether your category falls under UPI's restricted merchant categories

• Local regulatory compliance

  Confirm compliance with India's payment and foreign exchange regulations (see official sources below)

When an Indian consumer pays via UPI, the funds are generated in INR, which Hecto Financial receives locally before converting and settling to the Korean merchant in whichever of the three currencies—USD, KRW, or JPY—was designated under contract. The settlement cycle and fee rate are set according to contract terms. Given the nature of UPI transactions, refunds are returned to the consumer's original account, and since NPCI rules and Hecto Financial's operating policies apply together, it's advisable to confirm refund deadlines before contracting.

• Reserve Bank of India (RBI) / National Payments Corporation of India (NPCI)Official information on India's payment systems and related regulations. If actual regulations differ from the content of this page, the official source takes precedence.