National Payments Corporation of India (NPCI) announced the launch of a Global Level Hackathon where Fintechs, solution providers and developers are invited for submitting unique solutions for simplifying payment authorizations for UPI transactions.

The Hackathon will search for alternative payment authorization mechanisms for the UPI platform (Unified Payments Interface).

The 'NPCI PayAuth Challenge' gets support from APIX (API Exchange), which is a cross border and open architecture API marketplace and sandbox platform.

Fintechs, solution providers and developers are invited to participate in the 'Open Global Contest' and submit unique and user-friendly solutions which can simplify authorizations for the UPI.

It is aimed at exploring the feasibility of the alternative payment authentication mechanisms and how the users respond to those.

The solution submitted by the participants will require integration with the UPI and will be able to perform end-to-end onboarding of customers, transaction authorization and also provide the parameters required for enabling risk scoring of users and transactions.

A statement released says that the challenge gives participants a chance for working with NPCI for development of a solution which will change the Digital Payments landscape in India and abroad and win a prize money of USD 20,000. The runner-up will receive USD 10,000.

Participants interested can login the official website hackolosseum.apixplatform.com and submit the form by 28 February 2021.