What is a UPI payment app?

A UPI payment app is a mobile application that uses the Unified Payments Interface (UPI) system developed by the National Payments Corporation of India (NPCI). It allows users to link multiple bank accounts into a single app for instant, 24/7 money transfers. Users can send or receive funds using a Virtual Payment Address (VPA) or by scanning QR codes, eliminating the need for bank account numbers or IFSC codes. Regulated by the Reserve Bank of India (RBI), these apps ensure secure transactions using a personal UPI PIN.