What is a UPI ID in PhonePe?

A UPI ID, also known as a Virtual Payment Address (VPA), is a unique identifier linked to your bank account for making instant digital payments. It acts like an email address for money, allowing you to send and receive funds without sharing sensitive details like your account number or IFSC code. Key features include:

• Enables secure real-time money transfers 24/7.
• Links multiple bank accounts within a single application.
• Can be customized using your mobile number or name followed by a banking handle.