UPI is the most popular payment system in India. Because of this system, common people started to use the digital transaction. Before this system, we used NEFT, RTGS, IMPS for online fund transfer. But UPI is a better platform than those systems. It is simple, easy, prompt and Free. In this page, I would tell […]
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.
UPI is the buzzword of digital payments in India. You may have heard that it has powered most the payments apps in India. All the big names want to ride the UPI bandwagon. Every big bank has incorporated this payment system into their app. Even big names of international payments are endorsing it. Be it, Google Tez, […]
Now you have a new term to decode. What is this UPI PIN? What is the use of it? How UPI PIN is different from the existing MPIN or ATM PIN? How can you get it and is it necessary to remember? There are many questions about this new type of PIN. Let me decode it. […]
UPI is a payment system which facilitates the fund transfer between two bank accounts. This payment system works on the mobile platform. Sending money through the UPI app is as easy as sending a message. You are not required to give bank account details for the fund transfer through the UPI payment system. UPI is one of the most advanced […]
Mobile banking has brought the bank account in your hand. Today, you can check bank balance, get a mini statement and do a payment through the mobile banking. But, what if you don’t have a smartphone or you don’t have the internet? The answer to this problem is the USSD based mobile banking. Just dial the *99# […]
What is the UPI Transaction Charges? You must be asking this question after learning about the UPI or Unified Payment Interface. However, It is very difficult to find out the UPI charges. I, also, wanted to know the transaction cost of the UPI. Hence, I searched the internet thoroughly. Even, I have gone through the procedural […]
What is Digital Payment? Digital payment is a way of payment which is made through digital modes. In digital payments, payer and payee both use digital modes to send and receive money. It is also called electronic payment. No hard cash is involved in the digital payments. All the transactions in digital payments are completed […]