What is the UPI facility?

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 for seamless fund transfers and merchant payments. Key features include:

• Instant money transfers available 24/7, including holidays.
• The use of a Virtual Payment Address (VPA) or UPI ID, eliminating the need to share sensitive bank account details.
• Secure authentication using a unique UPI PIN for every transaction.
• Support for both sending (push) and requesting (pull) money effortlessly.