What is UPI – All You Need to Know About Unified Payment Interface

byMehak BaglaLast Updated: October 10, 2023
India and Philippines Explore Cooperation on UPI: Everything You Need to Know

Transferring money from one bank to another was a big deal before NPCI (National Payments Corporation of India) facilitated the option of inter-bank transactions using mobile applications. This RBI-regulated interface, termed as UPI or as UPI full form stands for Unified Payment Interface allows users to transfer funds instantly using a mobile device. Mobile payment applications such as Paytm have made it easier to perform UPI transactions in the comfort of your home.

You would have clearly heard the term “UPI” multiple times before, but do you know exactly what is UPI? Let’s find out!

What is UPI?

Unified Payment Interface (UPI) is a popular mobile payment method that allows you to transfer funds from one bank account to the other, instantly and free of charge. Ever since its inception, UPI has made financial transactions much easier for account holders.

Transferring money through UPI requires each user to have an ID, termed as the UPI ID. The UPI ID is a unique identification for a bank account that is used to send and receive funds from one bank to another. In UPI payment applications such as Paytm, you don’t need to enter the receiver’s UPI ID. You can simply select the receiver’s contact from your phone book or enter the receiver’s contact number to send money via UPI. The UPI PIN, on the other hand, is a 4 or 6-digit personal identification number required to transfer money through UPI. Every account holder has the option to set his/her UPI PIN as per convenience.

Features of UPI

Nowadays, you would hear every bank account holder talk about transferring funds through UPI. If you haven’t used UPI quite often, then here are the reasons behind the hype:

  • UPI payments are very fast, and typically, payment can be completed within seconds
  • Almost every bank allows UPI transactions through mobile applications
  • Payments are completely safe. To complete a payment, the user needs to have the SIM card of his mobile number present in his phone and also needs to enter the secret MPIN each time
  • UPI Payment facility allows individuals to request money from some other individual, which is not an option with other payment methods like IMPS, NEFT
  • These mobile payment applications also offer the facility of bill payments, meaning that you can set up timely reminders for all your bill payments and make the payments using the application at just one click
  • In case of any trouble or suspicious activity on your account, you can easily file a complaint using the mobile payment application
  • Payments can be made 24*7
  • It’s completely free!

How Does UPI Payments Work?

To make a UPI transaction, you need a VPA (virtual payment address) just like you need a credit/debit card to make payment card payments. VPA stands for Virtual Payment Address which is basically the address to or through which you can make UPI money transfers.

A VPA is a unique financial address using which you can send and/or receive money in your bank account through UPI. As and when you create your UPI account on the Paytm app, your VPA gets created automatically. Now, to make a UPI transaction, you need to log in to your Paytm UPI payment application and click on the ‘UPI/Send Money To Anyone’ option. Select the receiver from your phone contact list, enter the mobile number of the receiver if it is not saved on your phone, or scan the QR code of the receiver. Next, select the bank account from which you want to make the transfer and click on ‘Proceed’. Enter the UPI PIN associated with the selected bank account and the amount will be immediately transferred from your bank account to the receiver’s bank account!

Participants in UPI

The following parties are involved in making a UPI transaction-

  1. Remitter bank
  2. Beneficiary bank
  3. NPCI
  4. Merchants
  5. Bank account holder
  6. Payer PSP
  7. Payee PSP

Why Should You Use UPI?

Unified Payment Interface or UPI has more benefits than you can imagine. Here’s a list of a few of them-

  • Simplified, hassle-free online payments
  • Safe and secure mode of money transfer
  • Allows you to make payments towards your bills, shop on e-commerce websites, etc.
  • Lets you make payments by scanning QR codes at your nearby departmental stores, chemist shops, etc.
  • Regularly paying through UPI also helps you earn discount vouchers, cash back, and other rewards

Registration Process in UPI enabled application

UPI allows an individual to transfer money directly from his/her bank account to the recipient’s bank account in a few seconds. The facilitation of UPI has completely eliminated all this hassle. Once the sender has completed his/her UPI registration process, he/she can transfer the money with only a few clicks on a UPI payment application like Paytm.

Steps to Create a UPI Account

  1. Download the Paytm UPI mobile payment application
  2. Just enter your mobile number. If you have a dual SIM phone, you may be prompted to select the SIM slot in which your mobile number is present
  3. An SMS will be sent from your number to verify your mobile number
  4. Once this is done, you will have to select your bank name from the list that will be presented to you. Please make sure that the mobile number registered with your bank is the same as the one you entered earlier. Your bank account details will now be fetched from the bank using your mobile number
  5. If you are linking your bank for the first time, you will be asked to set up a UPI PIN. You will need your debit card details for setting this up
  6. Your bank account is now linked via UPI and you are ready to make your first payment

What is a UPI PIN? How to Generate a UPI PIN?

The UPI PIN, which is short for Unified Payments Interface Personal Identification Number, is a 4 or 6-digit code that users create either during UPI registration on a UPI application or afterwards. It is crucial not to disclose the UPI PIN to anyone in order to prevent potential fraud, as it enables users to authenticate transactions.

To generate your UPI PIN, you must first install a mobile payment application, such as Paytm on your mobile phone. After installing the application, you need to create your own UPI profile/account and follow the following steps to generate your UPI PIN-

  1. Open a UPI payment application, such as Paytm, on your mobile phone
  2. Tap on the ‘Profile‘ icon in the top left corner of the Paytm mobile application
  3. In the left sidebar that opens, scroll down to the ‘Payment Settings’ option and click on it
  4. Next, click on the ‘UPI & Linked Bank Accounts’ option and you will be able to see the list of your linked bank accounts
  5. If UPI PIN is not set for a bank account, you will see a ‘Set PIN’ option under the bank account
  6. Click on ‘Set PIN’
  7. Now, enter the last 6 digits of your card number, along with its expiry date
  8. After doing so, you will receive an OTP on your registered mobile number
  9. Enter the OTP and the UPI PIN of your choice on the next screen that appears
  10.  Click on ‘Submit’ and your UPI PIN will be set!

What is a UPI ID?

Transferring money through UPI requires each user to have an ID, termed as the UPI ID. The UPI ID is a unique identification for a bank account that is used to send and receive funds from one bank to another. In UPI payment applications such as Paytm, you don’t need to enter the receiver’s UPI ID. You can simply select the receiver’s contact from your phone book or enter the receiver’s contact number to send money via UPI. The UPI PIN, on the other hand, is a 4 or 6-digit personal identification number required to transfer money through UPI. Every account holder has the option to set his/her UPI PIN as per convenience.

How to Find Your UPI ID?

  • Open the Paytm app on your phone
  • Tap on your profile picture located in the upper left corner of the main screen
  • Your UPI ID and QR code for receiving payments will be displayed under your profile picture
  • Copy and share your UPI ID with the sender to receive money easily

How to Transfer Money Using UPI?

You can transfer money using mobile applications in the following ways-

  1. Mobile number – This allows you to transfer money from your bank account mapped with your mobile number
  2. QR code – Enables you to send money using the QR code enclosed with your VPA, Account number, IFSC, or mobile number
  3. VPA (Virtual Payment Address) – Allows you to send or request money from a bank account using your UPI ID
  4. Account Number – This lets you send money directly to the bank account

What is VPA?

To perform UPI payments, a valid identification known as VPA (Virtual Payment Address) is required. The VPA serves as the payment address for UPI money transfers. When conducting online transfers between banks through UPI, the money is actually sent from one VPA to another. UPI, short for Unified Payments Interface, has revolutionized online banking and money transfers, enabling users to send or receive funds directly from/to a bank account using UPI as the payment method. All that is needed to complete a transaction is a UPI ID.

What is a UPI Transaction?

A UPI transaction is basically a way to transfer money from one bank account to another. Paytm UPI mobile application allows you to transfer money in multiple ways. Whether it is a mobile number, QR code, UPI ID, or account number- each of these methods is equally easy to use.

How to Make a UPI Transaction?

You can make a UPI transaction using either of the following methods-

  1. Selecting a Contact/Entering Mobile NumberSending money is as simple as sending a message. Just select a phonebook contact or enter a mobile number, specify the amount to be transferred, and enter your PIN. That’s it! Your payment will be completed in a few seconds.
  2. Scanning a UPI QR code – You can also send money through UPI by scanning the receiver’s QR code. All you need to do is open the mobile payment application like Paytm on your phone, click on ‘Pay’, and select ‘QR code’. Scan the QR code of the receiver and enter the amount to be paid. Now enter your PIN and your payment will be completed in a few seconds.
  3. Entering UPI ID – To send money through UPI ID, all you need to do so is open the mobile payment application, and enter the receiver’s UPI ID. After this, you need to enter the amount that needs to be transferred and verify the transaction by entering your MPIN. Your transaction will be completed in a few seconds.
  4. Entering Account Number & IFSC – This is the traditional way of payments and it is also supported on UPI. You may enter the account number & IFSC of the person you want to send money to, specify the amount, and enter your PIN. Your payment will be completed in a few seconds.

Check UPI Transaction Status on Paytm App

To check UPI transaction status on Paytm app, follow these steps-

  1. Login to the Paytm application on your mobile device
  2. On the home screen, under the section, ‘My Paytm’, click on ‘Balance & History’
  3. The next screen that appears will show all the bank accounts linked with your Paytm app
  4. Scroll down further on this screen to find your entire transaction history
  5. You can click on any particular transaction to check its status and other details such as the transaction time, amount, transaction ID, etc.
  6. If required, you can also share the details of any particular transaction by clicking on the ‘Share’ option on the top right corner of this screen
  7. You can keep scrolling down on the screen to look at the previous transactions

Transfer money through UPI using Paytm today!

UPI Transaction Limit

To ensure the safety and security of transactions, all UPI payment applications like Paytm are regulated by the guidelines of RBI. Owing to the current rules and regulations, the present UPI transaction limit per day on the Paytm app is Rs. 1 lakh per account, every 24 hours. However, it is important to note that the actual UPI transaction limit varies from bank to bank, which may also restrict the amount that can be sent at a lower amount too.

UPI Transactions Fees and Charges

The Paytm payment app supports UPI services and it does not charge any charges for carrying out any UPI transaction. While there is a UPI transaction limit per day of Rs. 1 lakh on the Paytm application, there are no UPI transaction charges on the Paytm application.

What to Do If a UPI Transaction Fails?

If your UPI transaction fails, check for the following reasons-

  • Daily UPI limit has exceeded
  • Insufficient funds in linked bank accounts
  • Incorrect UPI PIN
  • Incorrect receiver’s details

Is KYC Required For UPI Money Transfer?

The simple answer here is – NO. KYC is not required for making UPI money transfers on Paytm. Any user can make UPI-based transactions on the Paytm app without any concerns on the safety and security of user data. All the users registered on Paytm have to link a bank account with the Paytm app in order to perform UPI money transfers. Users become automatically verified when they link their bank account with the Paytm app since banks have already performed the KYC-check for all their users.

What is a UPI Reference Number? How to Find it in Your Paytm App?

The UPI reference number is a 12-digit code that is assigned to every transaction for tracking purposes. It plays a crucial role in the UPI payment system by helping to identify and resolve any payment-related issues. The uniqueness of the UPI reference number ensures the security and reliability of transactions. It is advisable to keep a record of the UPI reference number to ensure smooth and trouble-free transactions.

To retrieve the UPI reference number for a transaction on the Paytm app, start by opening the app on your mobile device. Then, navigate to the home screen and tap on the ‘Balance & History’ icon. From there, select the specific transaction for which you need the UPI reference number. Once you have chosen the transaction, take note of the 12-digit UPI reference number, which is unique to that particular transaction.

How to Send Money Through Paytm UPI- Step by Step Process

  • Login to the Paytm app
  • On the main screen, locate the ‘UPI Money Transfer’ section
  • Within this section, choose from various options to send money via UPI, such as mobile number, Scan & Pay, or bank account
  • Select the desired option to proceed with the money transfer
  • If ‘Scan & Pay’ is chosen, scan the QR code of the receiver
  • If ‘To Mobile’ is selected, enter the receiver’s mobile number or choose from your phone’s contact list
  • After selecting the payment method, enter the amount to be sent
  • Confirm the transaction by entering your 4 or 6-digit UPI PIN and clicking on ‘Pay’
  • The amount will be transferred to the receiver’s bank account within a few seconds.

How can you Pay your Credit Card Bills Using UPI?

  • Open the Paytm app on your mobile phone
  • Scroll down on the main screen to find the ‘Recharge & Bill Payments’ section
  • Tap on the ‘Credit Card Payment’ option
  • Choose the specific credit card for which you wish to pay the bill
  • Enter the bill amount and click on ‘Proceed’
  • Select the linked bank account with UPI and continue
  • An OTP will be sent to the mobile number linked to your account
  • Enter the OTP to authenticate the transaction
  • Your credit card bill will be paid within a few minutes, and you will receive a notification to confirm the payment.

What is UPI Lite?

UPI Lite is a digital account specifically designed for low-value transactions, aiming to simplify and accelerate small ticket transactions. It comes with a maximum transaction limit of Rs. 200, allowing users to carry out quick transactions. Paytm is the first payments bank to have introduced UPI Lite, enabling users to conduct transactions up to Rs. 200, with a maximum cumulative limit of Rs. 4000. 

The UPI Lite feature has a maximum balance limit of Rs. 2000, and users can add up to Rs. 2000 to their account twice daily. This allows for a cumulative transaction limit of Rs. 4000 in a day. Users can perform multiple transactions within the maximum UPI Lite transaction limit. 

The UPI Lite feature streamlines the transaction process by eliminating the need to enter a 4 or 6-digit PIN. A user can load Rs. 2000 in the UPI Lite and utilize the available balance to conduct transactions until it is fully utilized. The maximum value per transaction is Rs. 200, enabling users to make multiple transactions until the limit is reached.

For example, a user can conduct 6 transactions worth Rs. 200, 4 transactions worth Rs. 150, and 20 transactions worth Rs. 10 in a day, exhausting the UPI Lite transaction limit of Rs. 2000. However, if further transactions are required on the same day, an additional Rs. 2000 can be added to the UPI Lite account.

Understanding the Difference between UPI and UPI Lite

How to Set Up Your UPI Lite Account on Paytm?

  • Open the Paytm app and tap on the UPI Lite icon on the homepage
  • Select the eligible bank account for UPI Lite
  • Enter the desired amount to add to your UPI Lite account for activation
  • Validate your MPIN to create your UPI Lite account
  • Your UPI Lite account is now set up, allowing you to make payments with a single tap
  • With your UPI Lite Account on Paytm, you can easily and conveniently carry out regular small-ticket transactions.

Paytm UPI Lite is supported by 10 banks, including Paytm Payments Bank, Canara Bank, Central Bank of India, HDFC Bank, Indian Bank, Kotak Mahindra Bank, Punjab National Bank, State Bank of India, Union Bank of India, and Utkarsh Small Finance Bank.

Paytm Payments Bank stands out as a leader in UPI Peer to Merchant (P2M) payments, serving as the largest acquiring and beneficiary bank, as well as a prominent remitter bank.

What is UPI 2.0?

UPI 2.0 is basically and newer version of UPI which has improved features and added benefits. The upcoming UPI 2.0 is said to be a more secure and comprehensive payment method with an easier and simpler authentication process.

Features of Upcoming UPI 2.0

Following are the salient features of upcoming UPI 2.0-

  1. The UPI 2.0 facility allows the payment of utility bills such as rent, electricity, etc. using the UPI system
  2. UPI 2.0 comes with a pre-authorized transaction feature, using which users will be able to authorize their regular transactions such as payment of mobile bills before their due date
  3. The UPI 2.0 system will have the biometric authentication feature which has the fingerprint mapping technology and iris scanner. This will ensure increased security of UPI transactions
  4. UPI 2.0 will keep a check on the speed of transactions to make sure that fraudulent transactions are detected and prevented from being successful
  5. UPI 2.0 will allow transactions even if your mobile number is linked to another bank account, which the current UPI system does not allow
  6. The UPI 2.0 payment system will also enable payments using the Aadhaar number to facilitate transactions directly from the bank accounts of individuals

When do UPI Transactions Decline?

UPI transactions decline due to any of the following reasons-

  • Bank server error: Temporary server downtime can cause BHIM UPI transactions to decline. Wait for some time and try again later.
  • Fraudulent transaction: Suspicion of fraud can lead to transaction declines. Payment Service Providers may flag certain transactions as potential fraud.
  • Incorrect UPI PIN: Entering an incorrect UPI PIN can result in transaction declines. Make sure to enter the correct UPI PIN.
  • Incorrect beneficiary details: Providing incorrect beneficiary details such as UPI ID or account number can cause transactions to fail. Double-check the information before proceeding.
  • Mobile number linked to multiple accounts: If your mobile number is associated with multiple accounts in the same bank, it may lead to transaction declines. Contact your bank for assistance.
  • Delay in updating mobile number: If you recently changed your linked mobile number and it hasn’t been updated by the bank, transactions may be declined. Contact your bank for support.
  • Violation of bank’s policy: Transactions that go against your bank’s policies may be declined. Reach out to your bank for clarification on their policies.

Follow these Tips to Use UPI Safely

While using UPI to perform transactions, follow these tips for a safe transaction experience

  • No UPI PIN required for receiving money– Remember that no UPI PIN is required for receiving money. So while receiving money via UPI, you don’t need to enter a UPI PIN.
  • Verify transaction details– Always double-check the type of transaction, payee’s name, VPA (Virtual Payment Address), etc., to ensure accuracy and legitimacy.
  • Suspect fraud or incorrect amount– If there is suspicion of fraud or if the collect request shows an incorrect amount, it is advisable to reject the request. The user can ask the sender to resend the request for verification.
  • Erase card information after online purchase– To safeguard card details, it is recommended to delete the card information after completing an online purchase.
  • Avoid suspicious apps or websites– Use virtual or private browsers and secure connections starting with HTTPS:// for transactions to ensure financial security. These browsers prevent the storage of credentials and cookies. Also, remember to log out after completing the transaction.
  • Never share UPI PIN– Avoid sharing UPI PIN with anyone and regularly change it to prevent cyber-attacks.
  • Be cautious of fraudulent apps– Beware of fraudulent apps on app stores. Look for multiple negative reviews, lack of verified badges, and low download numbers as red flags for potential scams.

Secure Your Account from UPI Frauds

  • Avoid strangers to prevent frauds/scams: One of the best ways to protect yourself from frauds is to refrain from interacting with strangers who ask for your confidential information. By avoiding strangers, you can ensure your safety in all aspects.
  • Do not respond to:
    • SMSs with unverified links
    • Calls from bank representatives or unknown sources (unless you initiated the call)
    • Individuals asking for CVV, OTP, UPI PIN, etc.
    • Social media handles requesting your contact details
    • Unverified applications
  • Stay away from unauthorized transactions or calls: It is important to avoid any transaction or call that you did not initiate to maintain security for your UPI account.
  • Learn about UPI: It is advised to understand how UPI works to have a complete understanding of the process. This knowledge will help you stay away from any misleading information and ensure you are well-informed.

UPI History

Transferring money from one bank to another was a big deal before NPCI (National Payments Corporation of India) facilitated the option of inter-bank transactions using mobile applications. This RBI-regulated interface, termed as UPI or Unified Payment Interface allows users to transfer funds instantly using a mobile device.

The facilitation of UPI or Unified Payment Interface has eased the financial lives of more people than one could ever imagine. The hassle of remembering the account numbers, IFS codes, mobile numbers, and bank branches is long gone. With UPI transfers, all you need to do is have the Paytm UPI payment application, save the receiver’s contact number in your phone and you are good to transfer funds from your bank account to the receiver’s. Paytm has made it easier to perform UPI transactions in the comfort of your home.

UPI Market Share

With increasing knowledge about UPI transactions and their benefits, the UPI market share is continuously on the rise. From a total of 93,000 transactions in the month of August 2016, the number of UPI transactions increased to 800 million in March 2019.

Later on, in July of 2021, the number of UPI transactions was recorded at 43.25 crores, which was worth Rs. 56,735 crores with the highest average daily transaction of 10 crores (100 million), which was twice the number recorded in July 2020. In December 2021, the total UPI transaction value reached Rs. 8.27 lakh crore, witnessing a 99% annual growth rate.

UPI also recorded 1.94 million IPO mandates in June 2021, which further increased to 7.66 million in the next month. Moreover, UPI owns the largest share in $2 trillion of annual digital payments in India.

Pre-Sanctioned Credit Lines via UPI

The Reserve Bank of India (RBI) announced that the Unified Payments Interface (UPI) System will now encompass pre-approved credit lines issued by banks for conducting transactions. Previously, the UPI System allowed transactions exclusively with the deposited amount.

UPI Transactions Cross 10 Billion in August 2023

During the month of August, UPI transactions reached an impressive 10.58 billion, showcasing a remarkable 61 percent surge compared to the previous month. As reported by the NPCI, the total transaction volume for August witnessed a substantial year-on-year increase of 47 percent, totaling ₹15.76 lakh crore.

German Minister Uses UPI to Buy Vegetables

During his visit to Bengaluru for the G20 Digital Ministers Meeting on August 19, Mr. Wissing, the Federal Minister for Digital and Transport, Germany went on the streets to buy vegetables using UPI. Videos and images of Mr. Wissing purchasing groceries and utilizing UPI for payments were shared by the German embassy in India.

Japan May Accept India’s UPI System Soon

As per recent reports, Japan is keenly interested in joining hands with India’s UPI payment system like Singapore and Thailand did. Japanese Digital Minister, Kono Taro earlier announced that the country wishes to increase the interoperability in the payment system of both countries. 

RBI Unveils Enhanced UPI Capabilities

RBI Governor Shaktikanta Das revealed a range of novel attributes for UPI during the Monetary Policy Committee (MPC) session held on Thursday, 10 August 2023. Conversational Payments and various other innovative features will be introduced to UPI in the near future. NPCI will explore integrating an AI chatbot like ChatGPT to facilitate user assistance during transactions.

Paytm UPI Lite Leads with 9 Million Users

Paytm Payments Bank has recorded over 50 million UPI Lite transactions so far, with over 9 million users. Having been the first Payments Bank to go live with UPI Lite, we have recorded a total transaction GMV of ₹280 crore so far through UPI Lite. Furthermore, over 63% of all UPI lite payments on Paytm QR are from our app.

India & Philippines Explore Co-operation on UPI

India and the Philippines are exploring a collaborative path for digital payment platforms and fintech cooperation. In June, India and the Philippines formalized a memorandum of understanding (MoU) concerning financial technologies.

Paytm UPI brings Next Gen features – UPI Lite on iOS, RuPay credit card on UPI

Paytm Payments Bank was the first payments bank to go live with UPI Lite on the Paytm Super App and has seen rapid adoption with about 60 lakh users. With RuPay Credit Card on UPI, the Bank has enabled users to link their RuPay credit card to an UPI ID on the Paytm app. Users can then simply pay by scanning the UPI-enabled QR code via Paytm app, eliminating the need to carry cards all the time. Users don’t have to wait for OTP SMS, they can just pay with your UPI PIN.

Paytm Launches UPI SDK

With Paytm UPI SDK, customers can enjoy 4X faster UPI payments through a 5X reduction in the number of taps and a 100% elimination of any external redirection, where customers have to switch between merchant and payment apps to complete transactions. This leads to fewer clicks, faster transactions, far higher success rates and increased customer retention.

Paytm UPI Lite Crosses 2 Million Users

With UPI LITE, Paytm has taken mobile payments to the next level in the country. Paytm UPI lite has crossed over 2 million users with over half a million daily transactions on our UPI LITE through the app. This is a testament to Paytm UPI LITE’s rising popularity.


What is UPI full form?

UPI stands for Unified Payment Interface. It is a payment interface that allows the transfer of money from one bank to another.

What is the best rewarding UPI app in India?

Paytm is the best rewarding UPI app in India, owing to its innumerable benefits.

Are there any charges for UPI?

No, there are no charges for UPI payments on the Paytm app.

What is Paytm UPI limit?

Owing to the current rules and regulations, the present UPI transaction limit per day on the Paytm app is Rs. 1 lakh per account, every 24 hours.

Is UPI safe?

Yes, UPI is absolutely safe and secure as it is based on 2-factor authentication. UPI is regulated by the Reserve Bank of India which ensures that all the transactions are performed between registered banks and no frauds take place. Additionally, each transaction through UPI is secured with MPIN which is confidential to the sender.

What is UPI ID?

UPI ID is basically the virtual payment address of the bank account holder. It is used by the sender to transfer money to another individual through UPI. A UPI ID is unique to every individual and is allotted by the bank.

What is UPI PIN?

UPI PIN is basically the password required to authenticate a transaction. The UPI PIN must be kept confidential with the account holder.

Is UPI ID the same as UPI PIN?

No, UPI ID and UPI PIN are not the same. The UPI ID is a virtual payment address that must be shared with the payees to allow them to transfer funds to your account. The UPI PIN, on the other hand, is the password that you need to enter to confirm payment from your account.

How to transfer money using UPI?

To transfer money using UPI, you first need to set up your UPI account completely. Once that is done, you can go to the application, click on ‘Pay’ or ‘Send’, enter the receiver’s UPI ID or scan the QR Code, enter the amount to be transferred and click on ‘Confirm’. The money will be transferred in a matter of seconds.

You May Also Like