Upi is a digital payment system of india. Its allows to money transfer one bank to another bank using a mobile phone.Upi developed npci ( National payment corporation of india)and its work under supervision in the reserve bank of india.Upi works Fast secure and easy to use send money and receive its allows through by app notification.
The biggest advantage of the upi send money you cannot remember long bank account number and ifsc codes every time.
You can send transfer money just like a upi id.
Upi working 24/7 its mean you can send and receive money anytime even at mid night and holidays.
How upi work ?
Upi work connecting your bank account to your mobile number through upi enabled app like phonepe , gpay and paytm etc…
To using upi you need :
●smartphone
●Bank account
●internet
●Mobile number to bank account register
●Upi app (phonepe,gpay,paytm,BHIM,etc.)
Once you connect and set up upi app you can send money and receive instantly
1.upi id
2.mobile number
3.qr code scan
4.bank account number
Upi app to tranfer money instantly within few seconds.
Who’s created upi ?
Upi was introduced by NPCI IN 2016,npci oranization behind many payment system of in india.
1.Rupay
2.IMPS Payments
3.Fastag payments
4.Bharat pay bill and upi payment system
Upi become popular because it is very simple money transfer system of india
What is upi id ?
Upi id is unique virtual payment address it’s like a your digital bank address for send and receive money.
Example:
●Siva@upi
●Siva@ybl
●Siva@okhdfcbank
●Siva@paytm
Phonepe Download link: Click here
What is UPI Pin ?
Upi pin is a 4 digit or 6 digit security its you crated during upi setup.If you want send money you must enter 4 or 6 digit upi pin,the pin work like ATM its protect your account.
●Never share your upi pin with others
●Bank employes never ask your upi pin
●Upi pin using a send money not using to receive.
●Upi pin works like ATM
Popular upi apps using in india ?
1.Google pay
Google pay is easy to using money transfer or receiving.
2.Phone pe
Phone is one of the most used upi apps in india.
3.Paytm
Paytm supports upi and wallets and recharge.
4.BHIM and amazon pay
Bhim is a official upi app created by npci
Amazon pay also provide upi transactions
All these apps using same upi services.
Why upi is popular?
Upi is popular because:
Fast,easy,secure,free,work anytime and accepted everywhere.
Upi made one of the fastest growing upi payment system of india.
Instant money transfer ?
Upi allows if you want when send money to ohers its reaches them in seconds. There no wating time like bank tranfer.
Even sundaya and holidays at mid night work send money instantly and smoothly.
No need remember account details?
Before upi people had to remember the info
●Bank account
●IFSC code and bank branch details.
But upi people only need:
Upi id or mobile number or qr scan
This makes very simple every upi user.
Upi is safe and secure payment system?
Upi is secure payment system because it need upi pin for every transaction,no need to share your account number,the every transaction is encrypted and secure and it is supported by RBI and NPCI. Upi also sends instant alerts through with app notification.
So you can track your every transaction easily.
Future of upi transaction?
Indias now one of the biggest digital payment system because of upi.
In the future upi may include:
●International payments
●Faster offline payments
●Better security features
●More business solutions
Conclusion:
UPI ( Unified payments interface) is one of the biggest payment system in india.its allows users to transfer money instanly from one bank account to another bank account using a mobile phone.
Upi fast, secure and easy to use for users. Its people avoid carrying cash and makes payment smoothly. It’s useful for students ,workers,businesses and to everyone.
Upi has changed india payment’s system completely and made digital payments common even towns and villages.
If you are not using upi services still, and it’s great time to start, it will save your time not to visiting bank everytime for transfer money. Upi allows make payment easier and help live a smarter digital life.
FAQ:
1.What is upi pin?
Upi pin is a 4 or 6 digit secret number its using sending money.
2.What is upi id ?
Upi id means virtual payment address lile name@upi using to send and receive money.
3.Can i receive money without enter upi pin?
Yes you can receive money without entering upi pin, upi pin using send money not receiving.
4.Who created upi?
Upi created by NPCI (National Payments Corporation of India)Under supervision RBI Bank.
5.Can i use upi without internet connection?
No upi allows work without internet connection.
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upi,upipayments,phonepe,googlepay,BHIM,amazonpay,paymentsystem,