What is UPI?

UPI (Unified Payments Interface) is a real-time payment system developed by the National Payments Corporation of India (NPCI).


It allows for instant fund transfer between two bank accounts on a mobile platform.

Some Facts about UPI

It is built on top of the Immediate Payment Service (IMPS) and uses a virtual payment address (VPA) as the unique identifier for a transaction, instead of using bank account numbers and IFSC codes.

Some Facts about UPI

UPI enables a customer to pay directly from a bank account to different merchants for various services and goods, without the hassle of entering bank account information every time a transaction is made.

Some Facts about UPI

As per the National Payments Corporation of India (NPCI), At present, the upper limit per UPI transaction is Rs.2 Lakhs.

Limit of fund transfer using UPI

UPI-PIN (UPI Personal Identification Number) is a 4-6 digit pass code you create/set during first-time registration with this App.

What is a UPI-PIN?

In case you enter the wrong UPI PIN, the transaction will fail. In case you input the wrong UPI PIN multiple times, the bank may temporarily block sending money using UPI from my account (this varies from bank to bank)

if I enter the wrong UPI-PIN during a transaction

UPI is providing additional benefits to IMPS in the following ways:

How is UPI different from IMPS?

1. Provides for a P2P Pull functionality 2. Simplifies Merchant Payments 3. Single APP for money transfer 4. Single click two factor authentication

What happens if my mobile phone is lost?

In case of mobile loss, one needs to simply block his mobile number thus no transaction can be initiated from the same mobile number which is a part of device tracking and at the same time UPI pin would be required for any transaction which is not to be shared with anyone