Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile App, Here we provide complete updates for UPI App Download, UPI Android App (PlayStore Links), RBI UPI App – SBI, HDFC, Axis, ICICI, PNP, PhonePay, PNB, BOB. Download UPI App From Play Store, Reserve Bank of India Launch Unified Payment Interface. UPI APK Download. Today RBI Governor Raghuram Rajan has just turned your smartphone into a bank, On Monday On Monday, the NPCI (National Payments Corporation of India) launched the much awaited Unified Payments Interface (UPI).
RBI Launches UPI App, Now you can easily Transfer payments to other persons, It’s being hailed by many as one of the biggest changes to take place in the financial sector, but there are many queries related to UPI Android App like – what is the UPI, and what does it mean to you?, How UPI Payment System Work, Here’s a quick guide to everything you need to know about the UPI. Now check more details for “UPI Android App (PlayStore Links), RBI UPI App – SBI, HDFC, Axis, ICICI”
What is UPI?
Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing & merchant payments into one hood. It also caters to the “Peer to Peer” collect request which can be scheduled and paid as per requirement and convenience.
- It is a payment system that will allow you to use a mobile phone to make money transfers. A virtual debit card, if you will.
- The UPI is a system for instant, online bank payments.
NPCI Says that 21 banks to go live with Unified Payments Interface
Banks including HDFC Bank, SBI, Axis Bank Ltd, Federal Bank, ICICI Bank Ltd and Punjab National Bank are set to go live with UPI-enabled mobile apps on Google Play Store.
SBI UPI APP Update
SBI UPI App is Available Now, Please download SBI UPI APK From below link..
कैसे काम करेगा UPI? –
- गूगल प्ले स्टोर से बैंक का UPI ऐप डाउनलोड करें। बैंक अकाउंट कनेक्ट करें। आधार नंबर से जोड़ें।
- एक यूनिक वर्चुअल आईडी बनाएं।यही आईडी ट्रांजैक्शन के लिए शेयर होगी।
- मोबाइल पिन जेनरेट करें। उसी से पेमेंट भेजें या रिसीव करें।
The UPI app of 21 banks will be available on the Google Play Store in next 2-3 working days for the customers to download and start using
How to Download UPI App
What are the different channels for transferring funds using UPI?
The different channels for transferring funds using UPI are:
- Transfer through Virtual ID
- Account Number + IFSC
- Mobile Number + MMID
- Aadhar Number
- Collect / Pull money basis Virtual ID
How UPI App is Working
- To send money to someone, you need to know only their UPI ID – a virtual identity like an email address. This could be your name, or your phone number, so for example, if your phone number is 1234567890, then your virtual address could be 1234567890@sbi (if your bank is SBI) or 1234567890@axis (if you’re an Axis bank customer), and so on.
- By Using UPI app not need of knowing the recipient’s name, their bank account number, and IFSC code (or bank branch).
- UPI is built on top of the IMPS, which you may have used to transfer money between bank account. Like IMPS, UPI is immediate, and works 24×7, through the year, unlike NEFT or RTGS services, which have specific working hours.
- The UPI can also be used for shopping online – instead of entering your debit card number, expiry date, and CVV code, followed by waiting for the OTP, you’d just enter your UPI ID, and get an alert on your phone to verify the transaction.
Benefits of UIP App
The biggest impact of this app will be on third-party payments. Today, if you want to pay someone, you need to add him or her as a beneficiary. You need the IFSC code and bank account number and branch etc. The UPI app does away with all this. All you need is the receiver’s unique ID. Open the UPI app, select the amount to be paid, add the unique ID of the beneficiary and select ‘send’. The app will ask for a mobile pin to authenticate the payment after which it is done.
How is it different from the apps that banks provide?
Every bank requires you to download its app. So, if you have two bank accounts, you will find yourself needing two apps on your smartphone. But, with this interface, the customer needs to download only one app. The UPI interface will network all the banks together and make it possible for the customer to make her transactions using a single app.
Is UPI App safe?
Yes Very much so. The customer will be given a virtual ID and won’t have to disclose her bank details. Of course, she will have to authenticate her ID with a password.
How can a customer use UPI Android App
- Every Customer will need to have a bank account and a smart phone.
- Now Download the UPI app from Play Store
- Now Connect the bank account
- Create a Unique ID
- Generate a mobile pin
- Also link Aadhaar number
If you have any query regarding “UPI Android App (PlayStore Links), RBI UPI App – SBI, HDFC, Axis, ICICI” then please tell us via below comment box…