UPI is a unique payment solution built to empower customers to initiate payment requests through their smartphone.
It provides a Virtual Payment Address (VPA), through which users can send and receive money on a two-factor authentication.
Anyone with a smart phone and a bank account will be able to benefit from UPI for transacting money online.
Created by the National Payment Corporation of India (NPCI) with the support of the Reserve Bank of India and Indian Banks Association (IBA), financial experts believe UPI will boost the online payments industry and is a major step towards building a cashless society
No comments:
Post a Comment