Unified Payments Interface
Indian instant payment system
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Unified Payments Interface, commonly referred as UPI, is an Indian instant payment system developed by the National Payments Corporation of India (NPCI) in 2016. The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions. It is used on mobile devices to instantly transfer funds between two bank accounts. The mobile number of the device is required to be registered with the bank. The UPI ID of the recipient can be used to transfer money. It runs as an open source application programming interface (API) on top of the Immediate Payment Service (IMPS), and is regulated by the Reserve Bank of India (RBI). Indian Banks started making their UPI-enabled apps available on the Google Play on 25 August 2016.
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German embassy shares footage of minister using UPI in India"One of India's success story is digital infrastructure. UPI enables everybody to make transactions in seconds. Millions of Indians use it," the embassy said on X. The video showed the minister buying..IndiaTimes - Published | |
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PM Modi visit: France likely to use India's UPI payment system, first European giant to so, full detailsIt is expected that PM Modi will announce the connectivity from a famous Paris location if all UPI agreements are completed on schedule.DNA - Published | Rs 2000 notes withdrawn: Move over UPI! Now 2000 notes become customer favourite in Delhi marketsAs the RBI announced that all Rs 2000 notes are being withdrawn in the country, these rare notes have made a major appearance across market places in Delhi.DNA - Published |
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