What is UPI And How Does it Work? All you Need to Know

What is UPI?

UPI is a new payment method  that allows individuals to transfer money from one bank account to another instantly.

What is UPI PIN ?

A UPI PIN is a four or six-digit passcode that one needs to Enter to authorise every transaction.

What is UPI ID ?

UPI ID is a unique virtual payment address that one requires to send or receive money

How to use??

UPI mode of payment can be used by following these steps


Step 1

Download any NPCI-approved UPI app from Play Store or App Store such as BHIM, Google Pay or respective bank apps (which has UPI enabled

Step 2

After opening the application, enter the phone number that is linked with your bank account

Step 3

Allow all permissions that the app asks for

 Step 4

After entering the OTP, proceed to the next step

Step 5

Set a PIN (LOGIN passward)

 Step 6

Tap on the ‘Add Bank Account’ option and choose your bank

Step 7

Set Your UPI PIN after Providing Bank Details

You are Done