What is upi: Sep 26

Sep 26, 2024 ·What isUPI? (UPDATED)UPIis a real-time payment system that allows people to transfer money between bank accounts instantly using a smartphone. Developed by the National Payments Corporation of India (NPCI),UPIhas made it simple to send or receive money without needing traditional bank details like account numbers or IFSC codes. UPIis an interface that allows you to transfer money between bank accounts through a single window. You can send or receive money or scan a QR code to make payments. Unified Payments Interface (UPI) is an Indian instant payment system and protocol developed by the National Payments Corporation of India (NPCI) in 2016. The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions. [1][2] It is used on mobile devices to instantly transfer funds between two bank accounts using only a uniqueUPIID. It runs as an open source ...