UPI is an instant real-time payment system developed by National Payments Corporation Of India (NPCI). Facilitating inter-bank Peer-to-Peer (P2P) and Person-to-Merchant (P2M) transactions. Various popular portals like Amazon, Flipkart, etc. now accepts payment mode as UPI.
Key Features Of UPI Are As Follow:-
- Instant Fund Transfer (UP To 1 Lac).
- Available 24*7 (Functional Even On Holidays).
- Safe and Secure, Easily Accessible and Cost Effective.
- Debit and Credit Confirmation by SMS.
- Transfer Money to Any Person, Wallet or Pay Utility Bills.
Services Available Under UPI:- Funds Transfer and Remittances
1. Sending Money
2. Receiving Money
How To Get UPI Enabled?
• Using the UPI services by linking your account with UPI through various application such as BHIM, WhatsApp, PayTM, Mobikwik, Phone Pay, Google Pay, Etc.
UPI Pin creation requires ATM card details for the first time only. After UPI Pin is created And activated, if ATM Card is closed or blocked UPI services / transactions shall still work without any issues. UPI transactions can only be stopped by unlinking your UPI ID with application that customer has linked with application like BHIM, Phone Pay, Paytm, Google Pay Etc.