Unified Payment Interface System, UPI NPCI Mobile Payment & Process
The Unified Payment Interface
(UPI) is a project from NCPI.
It is known as National Payments Corporation of
India hits the market on 11 April. The UPI has been started to provide the
information that how mobile banking transactions are conducted in India. It
also allows the users to make payments using mobile phones.
From this facility the users do
not need an electronic wallet. The people will be able to use various
electronic purses as interoperability with UPI. This system will allow a one
click, two-factor authentication on mobile phones through bank accounts.
·Use to transfer money and make payments
·It is available 24 x 7
·More than 100 members that allowed IMPS
·UPI only requires one ID and does not disclose
the details of your bank account.
The launch of the Unified System Interface Payment (UPI)
will also have an impact on portfolios, including the services that exist only
as a product that allows for ease of operation. It can be used without having a
customer of that bank.