What is UPI payment mode?

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. UPI enables instant money transfers 24/7, using a Virtual Payment Address (VPA) or QR code, eliminating the need to share sensitive bank details like account numbers or IFSC codes. Regulated by the Reserve Bank of India (RBI), it ensures secure transactions through two-factor authentication and a secure UPI PIN.