What is Unified Payment Interface app?
Posted by sonaldeo on March 30th, 2017
Unified payment interface is a system that enables you to link multiple bank accounts, helps you merging several bank accounts, funding roots and you can make merchant payments all under one umbrella. It serves on peer to peer collect request where you can send and receive money as per your requirements.
UPI is enabled by the national payments corporation of India. With the virtual payment address you can carry out the transaction without having bank beneficiary details like the bank account number, the debit card number, the passwords and all. UPI is a payment system that allows the transfer of funds between two bank accounts. The unified payment interface app works on mobile. Sending money using the UPI app is as easy as sending a message or a push forward message. You don’t need to share your bank account details which are confidential.
UPI is one of the most advanced digital payment system which is prevailing. Even while using the IMPS you need to share the IFSC code but with Unified payment interface app you don’t need to share this too. You can carry out money transaction even on bank holidays and Sundays also 24*7. Every UPI user will have his unique ID. This unique ID is the virtual payment address which is assigned to the users and which is necessary while making any transactions. You can choose the VPA similar to the mail address. So when you want to carry out any transactions you can simply exchange the VPA to receive or send money across.
What are the benefits of the unified payment interface app ?
How to get UPI ?
As stated earlier UPI app is a payment system that works on mobile application. So you will need to have a smart phone and internet pack to carry out the transaction. You can download the unified payment interface app from Google play store. Sign into the app and register on the app. Create a M pin password. You will need this password during all the transactions.
How Safe is using UPI App for our daily transactions:
It is as safe as the internet or mobile banking. To transfer money using Upi , one has to go through two factor authentication. To have access to the UPI app you need to insert a pin. To transfer the money you have to again insert a MPIN or UPI pin.Top Searches - Trending Searches - New Articles - Top Articles - Trending Articles - Featured Articles - Top Members
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