|Definition||:||Unified Payment Interface|
|Category||:||Business » Banking|
What does UPI mean?
Unified Payment Interface (UPI) is a real-time mobile payment system in India that enables to transfer of funds between bank accounts through a mobile platform.
With the help of UPI, a bank account holder can send or receive money instantly from their smartphones using a single identifier known as the Virtual Payment Address (VPA), without exposing sensitive information like a bank account number or other sensitive account information. UPI is available 24 hours a day, seven days a week, including Sundays and any bank holidays.
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