Penny Pull/Reverse Penny Drop

This page gives you an overview of Decentro's penny pull/reverse penny drop capabilities.

Overview

Unlock the potential of frictionless journeys by seamlessly verifying and onboarding your customers, merchants, or vendors using the Penny Pull capability of Decentro. This capability helps you fetch the bank account details of the user without having to ask the user for them.

Key Features

  • Instant Verification: Quickly verify the active status and account holder's name linked to a UPI ID before releasing payments.
  • Onboarding Excellence: Reduce drop-offs and onboarding time of a user on the platform by asking the user to undertake a UPI transaction rather than entering the entire bank account details.
  • Identity Protection: Mitigate identity fraud and theft risks by integrating this on the platform to ensure only genuine users submit.

Decentro's penny pull/reverse penny drop capability can be leveraged through the below flows.

  • Intent Flow: This allows any platform to use Decentro's capability to fetch a bank account with consent using UPI collections through any UPI app without asking the user to enter the VPA.
  • Collect Flow: this allows any platform to use Decentro's capability to fetch a bank account with consent using UPI collections through a specific app by entering the stated VPA by the user.

Decentro's penny pull/reverse penny drop capability will require the platform to submit certain documents before it can be exposed in the live environment. Please contact us at [email protected] for more details.

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Note - UAT Refunds

Rs. 1 will be refunded back to the same bank account within T+3 days. Please note that some banks might not send an SMS for the Rs. 1 transaction. Hence, please verify the refund by checking the account statement.

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Note - PROD Refunds

Rs. 1 will be refunded back to the same bank account within T+1 days. Please note that some banks might not send an SMS for the Rs. 1 transaction. Hence, please verify the refund by checking the account statement.