How does a UPI transfer work?

UPI works by instantly transferring funds between two bank accounts using a mobile device. The process involves:

• Entering the recipient’s UPI ID, mobile number, or scanning a QR code.
• The request is routed through the NPCI to the sender’s bank.
• The sender authenticates the transaction by entering a secure UPI PIN.
• After verification of funds and PIN, the sender’s bank debits the account and the recipient’s bank credits the amount in real-time.