UPI – Unified Payments Interface

UPI – Unified Payments Interface was officially launched by the Nation Corporation of India (NPCI), under RBI for instant inter-bank real-time transactions using android apps. UPI is a payment system that allows money transfer between any two bank accounts by using a smartphone.

UPI allows a customer directly to form a bank account with different merchants, both online and offline, without the hassle of typing credit card details, IFSC code, or net banking/wallet passwords. It uses Virtual Payment Address ( VPA ) to pay through the UPI.

Product typeInstant real-time inter-bank payment system
Introduced11 April 2016; 6 years ago
Produced byNPCI
Available in16 languages

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