Unified Payments Interface (UPI) is an instant payment system developed by the National Payments Corporation of India (NPCI), an Reserve Bank of India regulated entity. UPI is built over the IMPS infrastructure and allows you to instantly transfer money between any two parties' bank accounts.
Unified Payments Interface (UPI) is a payment system launched by National Payments Corporation of India and regulated by Reserve Bank of India which facilitates the fund transfer between two bank accounts on the mobile platform instantly
UPI (Unified Payments Interface) is an advanced version of Immediate Payment Service(IMPS) platform designed for transferring funds using: Transfer through Virtual Payment Address (Unique ID provided by bank) or Account Number + IFSC or Mobile Number + MMID(Mobile Money Identifier) or Aadhaar Number or Collect / Pull money basis Virtual ID. A MPIN(Mobile banking Personal Identification number) is given to the banking customer once they register for UPI which is required to be entered while confirming a money transfer.
