what is the meaning of UPI? explain with examples
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A Unified Payment Interface (UPI) is a single-window mobile payment system developed by the National Payments Corporation of India (NPCI). It eliminates the need to enter bank details or other sensitive information each time a customer initiates a transaction.
How to use UPI?
UPI payment service requires just setting up a UPI ID which is linked with your bank account. You can setup your UPI ID through apps that offer UPI service. UPI ID’s all begin with your mobile number followed by the ‘@’ symbol and the app you’re using. For example, in BHIM app UPI ID is shown as XXXXXXXXXX@upi, and in Paytm it’s XXXXXXXXX@paytm. You can however create your unique UPI ID as well.
The process is the same across all platforms with the first step being providing your registered mobile number. After this an SMS will be sent to get your bank account details.
You will then see your UPI enabled bank account displayed on the screen. Confirm the bank account and setup your four-digit PIN. Note that your UPI PIN will remain the same for your bank account on all apps.
It isn’t necessary for one to remember your UPI ID to send or request for money. You can simply choose from your contact list and the registered UPI ID will be displayed.
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________________
Here is your answer........
_____________________
A Unified Payment Interface (UPI) is a single-window mobile payment system developed by the National Payments Corporation of India (NPCI). It eliminates the need to enter bank details or other sensitive information each time a customer initiates a transaction.
How to use UPI?
UPI payment service requires just setting up a UPI ID which is linked with your bank account. You can setup your UPI ID through apps that offer UPI service. UPI ID’s all begin with your mobile number followed by the ‘@’ symbol and the app you’re using. For example, in BHIM app UPI ID is shown as XXXXXXXXXX@upi, and in Paytm it’s XXXXXXXXX@paytm. You can however create your unique UPI ID as well.
The process is the same across all platforms with the first step being providing your registered mobile number. After this an SMS will be sent to get your bank account details.
You will then see your UPI enabled bank account displayed on the screen. Confirm the bank account and setup your four-digit PIN. Note that your UPI PIN will remain the same for your bank account on all apps.
It isn’t necessary for one to remember your UPI ID to send or request for money. You can simply choose from your contact list and the registered UPI ID will be displayed.
__________________
HOPE THIS HELPS YOU:)
PLEASE MARK ME AS BRAINLIST
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