What are UPI and its advantages?

Hello, guys, do you use UPI to make a payment or you don’t. If you don’t about and want to know about it. Then you should have to read this article. In this article, we are going to talk about the UPI and their Advantages. It will help you to increase knowledge about the online payment system. Which is the most important thing nowadays? If you do an online payment then you must aware of how do things work and how to secure your online transactions. So let See about UPI.

What is UPI?

Speaking about the UPI it is an online payment system that is introduced by the National payments corporation (NPCI) to transfer payment between the two persons. This is a very simple process of transaction where you need a smartphone to transfer your money from one account to another account without knowing the account number of another person.

And one plus point about UPI is you can transfer money at any time there is no time limitation in the UPI.

How To Use UPI?

To use the UPI payment feature you will have to download your bank’s name application into your phone. And you will have to log in to your account and there you will see UPI option. From there you will have to create your virtual payment address. You can use any rememberable name for your UPI. After creating a virtual payment address your UPI will look like abc@paytm or xyz@kotak etc. After @ name depend on your bank. It generates automatically.

Advantages of UPI?

  1. You don’t need to find the IFSC code of any bank you can direct type UPI and send money to your friend and to your family.
  2. You don’t need to stand in line to wait for your turn to transfer money. It is an instant process just enter UPI id and send money.
  3. You can link multiple bank account to your single Virtual Private account.
  4. UPI also provides a payment request facility. You can send a payment request to your friend of any amount. And once they get your request they will transfer money to requested UPI.

Conclusion

So that’s it, friends, I hope you will like this article. If you have any questions or query then you can ask us into the comment box. There is more article related to blogging, information, and technology on our website.

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