Payments of India

All About BHIM UPI, IMPS, NEFT and RTGS

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.

UPI Full Form and Meaning

5 Best UPI Apps in India for Digital Payments

Main Features of UPI

  1. It transfers money instantly, anytime.
  2. You can request money from someone using this platform.
  3. 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.
  4. 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.
  5. You can send money immediately to anyone. There is no mandatory wait period.
  6. This system is free. Banks also do not charge anything to use their app. Thus, It does not cost anything to you.

 

 

Digital Payments in India 2018-2019

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There is a lot of buzz around the digital payment. The government and private sector both are riding on the digital payment wave. The people who use the digital payment mode are considered more advanced. In this post, I would tell you about the digital payment methods and its advantages. What is Digital Payment Digital […]

यूपीआई क्या है? UPI का इस्तेमाल कैसे करें? UPI App in Hindi

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जब मैंने गूगल पर UPI को सर्च किया तो हिन्दी के Suggestion में ‘उपि’ आ रहा था। आप लोग इस बात से कन्फ्यूज ना हों। यूपीआई ही उपि है। और आज इस पोस्ट में आपको यूपीआई के बारे में सब कुछ बताउंगा।  वैसे तो इस वेबसाइट पर मैं ज्यादातर अंग्रेजी में लिखता हूं लेकिन हिंदी […]

UPI 2.0 : More flexible, Great features and Wider Reach

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 The UPI (unified payment interface) would become more advanced. The NPCI is working on UPI 2.0 which would be more comprehensive and secure. The NPCI chairman Mr A P Hota told to the Mint that UPI would disrupt the non-cash transaction space. The next version of UPI would have more features and easy authentication. As […]