What is payment through UPI?

Unified Payments Interface (UPI) is an advanced instant payment system developed by the National Payments Corporation of India (NPCI). It allows users to transfer funds immediately between bank accounts using a mobile platform 24/7. Key features include:

• Instant real-time fund transfers between any two bank accounts.
• The use of a Virtual Payment Address (VPA) or UPI ID, eliminating the need to share sensitive bank details.
• Secure transactions authenticated via a unique UPI PIN.
• The ability to link multiple bank accounts into a single mobile application.