Abstract: The present invention envisages a system (100) for data archival in a blockchain network (20). The blockchain network (20) comprises a plurality of participating nodes, each categorized either as an archiver node (A1-A3) or a non-archiver node (N1-N3). The archiver nodes (A1-A3) maintain a database (102) comprising transaction data corresponding to all block creation events and corresponding transaction IDs. Each of the non-archiver nodes (N1-N3) comprises a data management module (104) which maintains an archival ledger (106a) comprising transaction data corresponding to a partial list of block creation events and corresponding transaction IDs. The data management module (104) receives a request for querying a transaction from a requester-non-archiver node, checks the archival ledger (106a) to determine whether the queried block is discarded or not, and retrieves and returns the transaction data from one of the archival ledger (106a) and the database (102) based on the determination.

Abstract: The present disclosure discloses a system (100) and method (200) for facilitating registered users to perform rule-based partially online and offline payment transactions. A PSP tool (20), installed in an electronic device (10) associated with a registered user, executes a trusted application (104) in a secured storage area of the device (10). The trusted application (104), the PSP tool (20), and the PSP server (30) are enabled to communicate with an authentication engine (108) and a plurality of banking system servers (40,50) via an electronic switch (106) to facilitate the registered user to enroll and create (204a) a Unified-payments-Interface (UPI) lite account; load money (204b) into the created account from a registered financial account, wherein the money is stored as a balance value in the secured storage area; and utilize the balance value (204c) for performing the partially online and offline payment transactions without hitting the banking system servers (40,50).

Abstract: The present disclosure envisages an electronic payment system and method. This disclosure relates to the field of electronic payment systems. The electronic payment system facilitates sending and receiving money in a simpler manner using user devices. It provides a unified payments interface (UPI) and enables users to push and pull/collect payments from accounts of concerned persons/entities. The system of the present disclosure enables payment transactions between a payer and a payee without mandatorily needing bank information and bank account details of each other. It eliminates the risk of storing customer's account details and can be used by customers which do not have credit/debit cards. It provides payment transaction privacy and facilitates multiple utility, cash on delivery, bill splitting/sharing, merchant payments/remittances.

Abstract: The present disclosure envisages an electronic payment system and method. This disclosure relates to the field of electronic payment systems. The electronic payment system facilitates sending and receiving money in a simpler manner using user devices. It provides a unified payments interface (UPI) and enables users to push and pull/collect payments from accounts of concerned persons/entities. The system of the present disclosure enables payment transactions between a payer and a payee without mandatorily needing bank information and bank account details of each other. It eliminates the risk of storing customer's account details and can be used by customers which do not have credit/debit cards. It provides payment transaction privacy and facilitates multiple utility, cash on delivery, bill splitting/sharing, merchant payments/remittances.