What is meant by UPI (Unified Payment Interface) and how to use it

Are you looking for information about UPI (Unified Payment Interface) like what is UPI, how to use UPI and how to download it? This article give details about UPI usage and which banks provide UPI service.

What is meant by UPI

UPI stands for Unified Payment Interface which is launched by National Payment Corporation of India(NPCI) under Reserver Bank of India(RBI). NPCI runs most of payment related infrastructure in our country which includes provide RuPay cards, withdraw amount in any bank's ATM, etc. UPI is the first step taken by India for moving to cashless economy.

UPI doesn't require bank account of the person to whom we want to send money and IFSC code unlike NEFT, IMPS and MMID. So no need to disclose our account details to other persons like merchants, but the other one should be registered and part of UPI. We can transfer the money with Virtual Payment Address (VPA) alone. VPA is nothing but a unique identity of a person to send and receive money.

One more advantage of UPI is that we can send and receive money instantly at any time including holidays and non banking hours.

How to use UPI

  1. Install your bank's app like hdfc payzapp or icici pocket, etc in smartphone and register your mobile number.

  2. Add your bank and account number details. These deatils will be auto populated once mobile registration done.

  3. Create Virtual Payment Address by selecting your account like senthil@pnb. if you have more than 1 bank account means, Virtual Payment Address needs to be created differently by selecting the specific bank account like senthil@pnb, senthil@hdfc, senthil@sbi, etc

  4. By using this virtual Payment Address we can either send money or request money.

  5. Minimum transaction is Rs 50 and maximum transaction is Rs 100000 and limit may be changed later./li>
  6. Transactions can be done between two individuals, merchants if we know the Virtual Payment Address of them. Currently no transaction charges and it may be changed later.

  7. UPI uses MPIN instead of OTP. MPIN will be provided to customer by bank during mobile banking registration

How to download UPI

  1. Make sure your bank is part of UPI and integrated with their mobile app.

  2. Download and install your UPI enabled bank app from play store.

RBI doesn't own any app for UPI and it is just mediator in transactions. We can not link NRE and NRO accounts with UPI and also we can't transfer money to abroad by using UPI. Currently UPI has only banks and e-wallets like PayTM, FreeCharge are not added.

If Mobile phone is lost means no need to worry much and just we have to block that number. If the mobile number is blocked means no further transactions will be allowed.

Which bank is part of UPI

The below banks are part of UPI and they have UPI enabled mobile app
Andhra Bank, Bank of Maharashtra, Axis Bank, ICICI Bank, YES Bank, Canara Bank, DCB Bank, Catholic Syrian Bank, Union Bank of India, Federal Bank, TJSB Sahakari Bank, Oriental Bank of Commerce, Karnataka Bank, UCO Bank, United Bank of India, Punjab National Bank, Vijaya Bank, IDFC Bank, and South Indian Bank.


UPI is one of the biggest revolutions in the Indian banking system. UPI is going to change the face of financial transactions and take our country to cashless economy. Hopefully the remaining banks also will adopt and provide UPI facility to its customer.


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