Smart Contracts for UPI

Smart Contracts for UPI provides conditional payments for businesses to establish a trustworthy and self-cordinated autonomous environment for financial transactions.

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Acyclic Pay

Meet Acyclic Pay

Set up your own conditions for escrows, trade finance letter of credits or even bill payments on UPI with the safety of blockchain.

Easy of use

No prior knowledge of smart contract programming or blockchain required. Integration is as simple as filling up a form, literally.


Our transparent blockchain alongwith our hybrid architecture on the backend makes every transaction and data secure as well as scalable. Have control over your data now.

Token-less Smart Contracts

Completely under regulations, our token-less smart contract uses UPI to transact directly with your bank account which can be configured according to your specified conditions.


Kotak UPI2.0 Hackathon

UPI2.0 Hackathon

Our Smart Contracts for UPI based conditional payments platform was honored to have received the runners-up award at Kotak UPI 2.0 hackathon. It supports smart contract based escrows for both B2B and B2C use-cases on top of UPI2.0 mandates.

Fintech Direct

Acyclic Pay Rides Smartly Into India’s Payments Sector

Fintech Direct was kind enough to feature our conditional payments platform opening to consumer base.

Frequently Asked Questions

  • What Are Smart Contracts?

    A smart contract is a computer protocol intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract. Smart contracts allow the performance of credible transactions without third parties. These transactions are trackable and irreversible.

    Proponents of smart contracts claim that many kinds of contractual clauses may be made partially or fully self-executing, self-enforcing, or both. The aim of smart contracts is to provide security that is superior to traditional contract law and to reduce other transaction costs associated with contracting. Read more about Smart Contracts. We are using Sentinel to interact with the Smart Contracts.

  • What is UPI?

    Unified Payments Interface (UPI) is an instant real-time payment system developed by National Payments Corporation of India facilitating inter-bank transactions. The interface is regulated by the Reserve Bank of India and works by instantly transferring funds between two bank accounts on a mobile platform. As of February 2019 there are 139 banks live on UPI with a monthly volume of 674.19 Mn transactions and a value of Rs 1,06,737.12 Cr. Read more about UPI.

  • What is Escrow?

    An escrow is a contractual arrangement in which a third party receives and disburses money or documents for the primary transacting parties, with the disbursement dependent on conditions agreed to by the transacting parties, or an account established by a broker for holding funds on behalf of the broker's principal or some other person until the consummation or termination of a transaction; or, a trust account held in the borrower's name to pay obligations such as property taxes and insurance premiums.

  • How secure/fast is the blockchain?

    We are using Indium Network, which is a permissioned public blockchain. Not all data is however sent upto to blockchain. Though all data are encrypted, we're storing sensitive data in a secure database and the key to which only resides with the user. Indium Network uses Proof of Authority consensus algorithm so it's pretty damn fast as compared to other public networks like ethereum or bitcoin.