Market coverage 1
- India Rupee
UPI (Unified Payments Interface) is a popular online payment method in India. It was developed by the National Payments Corporation of India (NPCI) and was launched in 2016.
UPI allows users to transfer money between bank accounts without having to enter the recipient bank’s details. Users can simply use their UPI address, which is a unique virtual identity that is linked to their bank account. UPI transactions can be carried out from the bank’s mobile application or a third-party application linked to UPI.
UPI also offers features such as payment requests, which allow users to request money from other users, and QR code payments, which allow users to scan a QR code to make a payment.
UPI is a convenient, fast, and secure payment method, and it has become extremely popular in India. It is widely accepted by merchants and service providers, and it continues to gain popularity as the preferred digital payment method of Indian consumers.