What is VPA and UPI?

UPI (Unified Payments Interface) is a real-time payment system developed by the National Payments Corporation of India (NPCI) for instant mobile fund transfers between bank accounts. A VPA (Virtual Payment Address), also known as a UPI ID, is a unique identifier used to send or receive money through this system. It acts like a digital identity, such as yourname@bankname, eliminating the need to share sensitive details like bank account numbers or IFSC codes. This makes digital transactions simple, secure, and accessible 24/7 for all users.