What is pay via UPI ID?

Pay via UPI ID refers to making instant, real-time payments between bank accounts using the Unified Payments Interface (UPI) system. A UPI ID (also known as a Virtual Payment Address or VPA) uniquely identifies a user's bank account, allowing money to be sent or requested without needing to share sensitive bank account details. The user initiates the payment by entering the recipient's UPI ID and authorizing the transaction with a secure PIN.