Finance Guru Speaks: This article will provide you details about revolutionary RBI's Banking App, called UPI or Unified Payment Interface. Gone are the days of using your Smartphone just for selfies, browsing, video chatting etc. Now you can use your Smartphones as your Mobile Bank at ease. So you can have Banking system in your Pocket!
RBI (Reserve Bank of India) has launched futuristic online payments solution - Unified Payment Interface. It is the advanced version of IMPS (Immediate Payment Service) funds transfer service.
If you want to buy a product from an online merchant, say Amazon using your smartphone, you will have to give your virtual address like 9876538789@hdfc and money will be requested by the merchant from it. You just need to provide your username and password to complete the transaction.
RBI (Reserve Bank of India) has launched futuristic online payments solution - Unified Payment Interface. It is the advanced version of IMPS (Immediate Payment Service) funds transfer service.
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| RBI UPI - Unified Payment Interface |
No need to download multiple Banks Apps. With UPI, you need to download only one App. This interface will group all the banks together and you can make transactions using this single App.
To download it from Playstore, you need to wait for next couple of months. I will share the download link, once it is available. Watch out this blog for more details!
To download it from Playstore, you need to wait for next couple of months. I will share the download link, once it is available. Watch out this blog for more details!
How does it work?
If you want to buy a product from an online merchant, say Amazon using your smartphone, you will have to give your virtual address like 9876538789@hdfc and money will be requested by the merchant from it. You just need to provide your username and password to complete the transaction.
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| UPI - Make Payments and Send-Receive Money |