Unified Payments Interface
About UPI
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- Unified Payments Interface (UPI) is India’s mobile based, fast payment system that facilitates customers to make round the clock payments instantly using a Virtual Payment Address created by the customer.
- This eliminates the risk of sharing bank account details by the remitter.
- UPI supports both Person to Person and Person to Merchant payments as also it enables a user to send or receive money.
- It was developed by the National Payments Corporation of India (NPCI), an RBI regulated entity.
How is it unique?
- Immediate money transfer through mobile device round the clock 24*7 and 365 days.
- Single mobile application for accessing different bank accounts.
- Single Click 2 Factor Authentication – Aligned with the Regulatory guidelines, yet provides for a very strong feature of seamless single click payment.
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