“Source:- The Hindu Business Line”
YouTube has launched Unified Payments Interface (UPI) as a mode of payment for its users in India for both YouTube and YouTube Music.
Users can now conduct transactions on the app directly from their bank account, using their unique UPI ID.
The UPI payment option on YouTube allows users to purchase monthly or quarterly prepaid subscriptions for YouTube Premium and YouTube Music Premium, purchase or rent movies, as well as pay for other in-app paid features such as SuperChat and Channel Memberships to engage with and support YouTube creators.
The video streaming platform earlier allowed users to pay for subscriptions and other in-app purchases only through credit and debit cards. The Google-owned video-sharing platform has now introduced the option for its users to “make easy payments through UPI, which is one of the most preferred forms of digital payments in India.”
The move comes as digital payments in India see over a 31 per cent jump in the first quarter as compared to 2019 with BHIM UPI being the most popular means of digital transactions as per previous reports.
Earlier this month, Praveena Rai, COO, National Payments Corporation of India in an interview with BusinessLine had said over 50 lakh new users have been added on Unified Payments Interface (UPI) in India.
What else is new on Youtube ?
Along with the UPI payments option, YouTube has also been working on other features to make the platform more user-friendly.
The video-sharing platform last month replaced its “Trending Tab” an “Explore tab” to make it easier for users to discover new videos based on their interest.
The same feature was rolled out for its music streaming platform YouTube Music earlier this week.
YouTube music had a 6 per cent share in India in CY 2019 according to a report by Counterpoint Research.