The Reserve Bank of India (RBI) has expanded the scope of the Unified Payments Interface (UPI) by introducing the UPI Pay Later. Now the NPCI has issued the rules for such transactions. As of now, HDFC Bank and ICICI Bank are giving this facility. But, sooner the SBI, Axis Bank, and Bank of Baroda would […]
UPI - Unified Payment Interface
UPI is a digital Payment system. This System works on mobile. By using this system a mobile app can send money instantly. It works 24 hours a day and never stops.
It has revolutionized the payments in India. Today most of you use one of the UPI apps such as BHIM, Tez, Phonepe, Paytm, SBI Pay, iMobile, chillr etc. These apps use UPI platform to transfer fund.
Main Features of UPI
- It transfers money instantly, anytime.
- You can request money from someone using this platform.
- You can link any of your bank accounts. It is not necessary to use app of the same bank. You can link multiple bank account to the single app.
- The bank account number is not necessary to send money through it. The virtual Payment address (VPA), Aadhaar, and mobile number can be also used to pay.
- You can send money immediately to anyone. There is no mandatory wait period.
- This system is free. Banks also do not charge anything to use their app. Thus, It does not cost anything to you.
In the past 7 years, UPI has seamlessly integrated into our daily lives, transforming the landscape of payments in India. It’s not just about payments; UPI keeps evolving with new features. One of the latest additions is UPI Now Pay Later. The introduction of this innovative feature promises to enhance your convenience significantly. Just as […]
UPI transactions are quite convenient. But they come with limitations. These limits might become an issue when you need to make a payment urgently. UPI transactions have two types of limits: The limit on the transaction amount has two sub-limits: It’s important to note that these limits can vary between different UPI apps and banks. […]
Nowadays, when you open your phonepe, Google Pay, you will get a notification to set UPI number. Let us understand what is this UPI number, what will be the benefit and how to set it. UPI Number Means UPI payment has made our life very easy. And now it is going to be easier with […]
The full form of the UPI is Unified Payment interface. This interface facilitates the money transfer between two bank accounts. This interface connects all the Indian Banks with the Mobile Payment apps. The unique features of the UPI has made it most loved payment system in India.
UPI Payment सिस्टम को शुरु हुए चार साल हो गए हैं। बहुत से लोग इसका यूज भी करने लगे हैं। फ्लिपकार्ट हो … अमेजन हो या फिर आपके पड़ोस की दुकान…. हर जगह UPI पेमेंट चलने लगा है। लेकिन इस बीच UPI सिस्टम में कई नए बदलाव आ गए हैं। पेमेंट के तरीका भी बदला […]