When you if you are Getting Started in Caseless Payment Then you should Need to Know about UPI (Unified Payment Interface). UPI is Alternative Make Case Less Payment. So, I’m Here to Discuss UPI. Let’s See What is UPI
Unified Payment Interface (UPI)
Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing & merchant payments into one hood. It also caters to the “Peer to Peer” collect request which can be scheduled and paid as per requirement and convenience. Each Bank provides its own UPI App for Android, Windows and iOS mobile platform(s).
Requirement to get UPI
- Bank a/c
- Mobile number must be linked with bank a/c
- Debit Card for re-setting MPIN.
- Download the App for UPI from Playstore
- Do registration online on the App with a/c details
- Create a virtual UPI ID
- Set MPIN
- Wait for Few Minutes
How to Make Transaction
Must be Ready to Do Transaction. you should need Virtual Address / Mobile No. / Account Details / Aadhar of Recipient and Enter Amount you want to Do Transact. it is Very Easy to do Transactions.
- Balance Enquiry
- You should see Bank Balance Status using Your Unique MPIN
- Transaction History
- Pay / Request (Receive) Money
- Virtual Address
- It is a Unique Address of every UPI Users.
- You can Request Money Using Request Money You should Need to Enter Amount.
- A/c no. & IFSC code
- Another alternative Method to Do Transactions as usually, you should need to fill your Account Details to do Transaction.
- Mobile no. and MMID
- does not Need Bank a/c Details just Sent and Receive Money with just Mobile no.
- Aadhaar (to be made functional)
- Virtual Address