What is the UPI payment method?

Unified Payments Interface (UPI) is a real-time instant 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. Users can send or receive money instantly 24/7 using a unique UPI ID, mobile number, or by scanning a QR code, eliminating the need for bank account details or IFSC codes. Regulated by the Reserve Bank of India (RBI), UPI ensures secure transactions through two-factor authentication and a secure UPI PIN.