What is UPI money?

UPI (Unified Payments Interface) is an instant real-time payment system developed by the National Payments Corporation of India (NPCI). It facilitates inter-bank peer-to-peer and person-to-merchant transactions through a mobile device. Key features include:

• Instant fund transfers between bank accounts available 24/7, including holidays.
• The use of a unique UPI ID or QR code, eliminating the need for bank account numbers or IFSC codes.
• Two-factor authentication via a secure UPI PIN for safe and verified transactions.