Definition Linked bank accounts are bank accounts connected to a payment app like UPI. This connection allows users…

Meaning Low-value payments are small-sized transactions usually made for everyday expenses. These are quick and often completed without…

Definition Instant settlement means transferring money to the merchant’s bank account immediately after a customer makes the payment.…

Meaning Instant payment refers to money transfers that happen in real-time. Once the transaction is confirmed, the money…

Definition High-value payments are transactions involving large sums, usually above the standard daily limits set by banks or…

Meaning A failed UPI payment occurs when a money transfer request does not complete. The money either remains…

Definition Dynamic QR generation refers to the process of creating fresh, transaction-specific QR codes through merchant systems or…

Meaning Dynamic QR is a QR code that changes for every transaction. Unlike a static QR, it contains…

Definition Bank account linking is the process of connecting your bank account with a digital payment platform, such…

Definition A UPI Payment Reference is a unique ID assigned to each UPI transaction for tracking and verification.…