What is UPI? (Unified Payments Interface)


UPI means Unified Payments Interface. A system for transferring and making payments online for offline and online (Digital & Electronic money transfer) purposes without entering a bank account’s details of net banking, IFSC codes, wallet details or atm card details. Yes UPI is a system, not an application. But this system is integrated with your bank and comes in Separate App. It is a system made by the National Payments Corporation (NPC) of India. It is also for each bank to make money transfer between two banks Without any charges. How many banks have this system made available? Axis Bank, Andhra Bank, Bank of Maharashtra, Bhartiya Mahila Bank, Bank of Baroda, Canara Bank, Catholic Syrian Bank, DCB Bank, Federal Bank, ICICI Bank, Karnataka Bank, Oriental Bank of Commerce, Punjab National Bank, South Indian Bank, SBI, UCO Bank, TJSB Sahakari Bank, Union Bank of India, United Bank of India, Vijaya Bank and YES Bank Etc…


How to use the UPI system in our banks? First, you have to enter your bank name and “UPI” in Play Store and search. The SBI is called SBI pay. To see if the app you are about to download is correct, see the App Developer Name, in the Developer Name where the bank name should be. What to do after installing the app? If opened it will scan your phone and send SMS from your Registered phone to the Particular Bank. However, you need to process this from the phone number that you have connected to your bank account. Because the Automatic App sends SMS. So after sending, you will be asked to fill some details like name and bank name. So far, it may not all happen at once. There may be times when you need to repeat the server’s cause. You will be prompted to set a password immediately. That’s it! It’s all gone. You can also make payments without having to use bank account details every time for account payment and transfer. Minus Points: SBI UPI App Slow. The rest of the banks are unaware of how UPI apps are. Basically connecting to servers is slow. What is the difference to the UPI system for wallets that have the original Already? All your bank details are linked to a bank ID, such as email id. This is known as a VPN. Virtual Payment Address. So the longer you can do all the banking the more cashless. As a wallet app, there is no need to add a bank account specifically, such as Limits. UPI is a direct bank to bank secure transactions. There is no middle ground. You can transfer the Amount from any Bank UPI to any Bank UPI. Advanced System to IMPS. Amount sent to another person can be used like General Cache. UPI Address – Anyone can transfer a VPA if there is a VPA. Fall off immediately. None of these are in wallets. Come with no need for more process.