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Penny Drop Verification

Advanced Penny Drop Verification with power of UPI

With Penny Drop Verification, give your users the option to verify bank account details by launching UPI app or entering bank account details. 600+ banks covered.

  • 5-sec authentication
  • 99% success rate
  • Amount is reversed instantly
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Faster user verification with Penny Drop

Use API to let your users verify their bank account at time of onboarding KYC or before receiving payouts. Know if the account is active, name as per bank records, and supported transfer modes.


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Simplified user experience

Discover a seamless way to verify user identity. Eliminate the need for manual penny drop, Users can opt to verify bank accounts by launching UPI app on phone or by entering bank account details herself.
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No more user drop-offs

Elevate user experience by effortlessly verifying bank account information. Bid farewell to frustrating drop-offs and unlock a higher verification completion rate.
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Enhanced Accuracy

Did you know more than 60% bank transfers fail due to incorrect account details, with verified account details, avoid reversals and payouts to incorrect beneficiaries.
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Unrivaled Coverage Across 600+ Banks

Verify user bank account details across a wide range of banks.
Heard about Reverse Penny Drop?
Provide your user flexibility to verify their bank account details by launching any installed UPI app and know user details like name at bank, account number. API will create a 1 Rupee reverse penny drop request. The amount will get auto-credited after successful verification.
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Comprehensive User Bank Account Verification

Penny Drop Verification
Verify if a bank account exists, match name provided by beneficiary with name at bank and minimise the failed or transfer reversals. Know the accurate reason for verification failure. Note: After successful verification, there is no auto-credit of the amount used as a penny drop to the beneficiary account.
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Reverse Penny Drop Verification
Provide your user flexibility to verify their bank account details by launching UPI app or entering bank account details. The amount will get auto-credited after successful verification.
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IFSC Verification
The most exhaustive list of IFSC codes updated weekly. Verify whether the IFSC is valid, the bank name and bank branch that it belongs to.
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IntegrationSimplest and easiest way to integrate

UPI ID from Phone Number API

  • Highly reliable and secure APIs

  • Use the official Cashfree libraries for different programming languages to integrate with your product and automate account verification flow

  • With webhooks, get notified on single or bulk verification status in real time

View API documentation 

{
   "signature":"signature", 
   "event_type":"RPD_BANK_ACCOUNT_VERIFICATION_SUCCESS", 
   "event_time":"2023-07-19 10:46:16",
   "version":"v1",
   "data":{
        "bank_account":"026291800001191", 
        "ifsc":YESB0000262, 
        "upi": "",
        "name_at_bank":"BHARATHTEST GKUMARUT", 
        "verification_id":"91", 
        "ref_id":"49", 
        "utr":"49" ,
        "status":"SUCCESS", 
        "name_match_score":"", 
        "name_match_result:"", 
        "added_on":"2023-07-18T16:27:10+05:30", 
        "processed_on":"2023-07-19 10:46:16",        
        "penny_collected_on":"2022-10-27 12:40:09.530"
}

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Ready to get started?

Collect customer payments, make payouts, manage international payments and so much more. Create your account or contact our experts to explore custom solutions.

  • Easy onboarding

  • Dedicated account manager

  • API access

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