What is a UPI service?

Unified Payments Interface (UPI) is an instant real-time payment system developed by the National Payments Corporation of India (NPCI). It allows users to link multiple bank accounts into a single mobile application, enabling seamless fund transfers and merchant payments 24/7. Key features include:

• Instant money transfers between bank accounts using a unique UPI ID or VPA.
• Secure transactions via two-factor authentication and a secure UPI PIN.
• Elimination of the need to share sensitive details like account numbers or IFSC codes.