How is UPI different from a mobile wallet?

UPI and mobile wallets differ primarily in how they handle funds and bank connectivity:

• UPI enables instant, real-time money transfers directly between bank accounts. It does not require you to store money in an app.
• A mobile wallet is a digital account where you must preload money from a bank or card before making a transaction.
• While UPI requires a linked bank account, wallets can sometimes function independently.
• UPI transactions are authenticated using a secure UPI PIN for every payment.