Unified Payments Interface (UPI)

What is UPI?
Unified Payments Interface (UPI) is a next-generation payments platform that –

  • Facilitates instant transfer of funds from person to person and person to merchant using a smartphone.
  • Powers multiple bank accounts into a single mobile application (of any participating bank), merges several banking features, seamless fund routing and merchant payments under one umbrella.
  • Also caters to the ‘Peer-to-Peer’ collect request which can be scheduled and paid as per requirement and convenience.

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