What is UPI ? Unified Payments Interface

What is UPI ? Unified Payments Interface

Unified Payments Interface ( UPI ) was officially launched by the Nation Corporation of India ( NPCI ), under RBI for instant inter-bank real-time transactions using android apps. UPI is a payment system that allows money transfer between any two bank accounts by using a smartphone. UPI allows a customer directly to form a bank account to different merchants, both online and offline, without the hassle of typing credit card details, IFSC code, or net banking/wallet passwords. It uses Virtual Payment Address ( VPA ) to pay through the UPI.

Quick Facts-

Introduced: 11 April 2016
Owner: NPCI
Website: www.bhimupi.org.in
Type: Mobile App
Available in: 16 languages
Operating System: Android & IOS

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