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Sunday, November 27, 2016

What is 'Unified Payments Interface' (UPI)?




What is  'Unified Payments Interface' (UPI)?



 
It is basically an interface through which account holder of one bank can transfer/receive money to someone having account in same/different bank through a smartphone. 

There is no need for sharing each other's bank account details. 

There is also no need for swiping debit/credit card, keying in your confidential PIN. 

The other advantage of UPI is that one can send as well as request for payments.

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