UPI – Unified Payments Interface, Digital India

UPI – Unified Payments interface is launched by NCPI, under RBI for instant inter-bank real time transactions using android apps. UPI is a step to cashless society using digital money and smartphones and it is live with 30+ banks. So Know More about it.

UPI – Unified Payments Interface :

UPI is a payment system that allows money transfer between any two bank accounts by using a smartphone. Its allows a customer to pay directly from bank account to different merchants, both online and offline, without the hassle of typing credit card details, IFSC code, or net banking / wallet passwords. So know Money Transfer is so simple then before.

Benefits of UPI :

  • Any Time instant Money Transfer in just a click.
  • Single Mobile Application for Multiple Banks.
  • Single Click 2 Factor Authentication .
  • Utility Bill Payments, Barcode (Scan and Pay) based payments, Counter Payments.
  • Also Share Bills with your Friends.
  • Make Payment to Merchants in Single Click.
  • Also Allow Scheduling PUSH and PULL Payments for various purposes.
  • Virtual address of the customer for Pull & Push provides for incremental security with the customer not required to enter the details such as Card no, Account number, IFSC etc.
  • Donations, Collections, Disbursements Scalable.
  • Raise Complaint to Different Baks from Single App.
  • It is Safe as customers only share a virtual address and provide no other sensitive information.
  • You can pay all the bills, do recharges, pay utililty bills etc – Yes this can be done in any existing bank mobile app so this is not something new.

 

How it Works To Start UPI Service ?

  1. Firstly Download UPI_App from PLAYSTORE
  2. (Various App are available on Play Store, for More Search on Playstore)
  3. Then Create your Profile.
  4. Create Virtual id (Payment Address)
  5. Link Bank and Account
  6. Finally you are Ready to Use Unified Payment Interface Service.

For More Details Watch Video :

UPI - Unified Payments Interface


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