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What is UPI and how does it work? Learn all about it


The second wave of Corona virus epidemic has once again created a furore in the country. Meanwhile, the trend of digital payment has increased rapidly in the country. In digital transactions, we use UPI in apps like Google Pay, PhonePe, Paytm. How UPI works and how it can be used. Today we will tell you about it. So let’s know how UPI works.

What happens UPI?
Unified Payments Interface is an easy way of digital payment, which is linked to your bank account through the mobile application. This is an easy and secure method of digital payment. You can send money to your friends and relatives in an easy and safe way. With UPI, you can do all your bills, online shopping, fund transfer very easily.

How does it work?
The UPI system works on Immediate Payment Service. This service is used for net banking. If you generate your UPI PIN number in the smartphone, then it is your account number in a way. Through this, you can make transactions other than payment of bills.

This is how to use UPI
Explain that every bank has a different UPI app. You can go to your smartphone’s play store and find your bank’s UPI app and download it. After installing it, it has to be signed in. Then you can create UPI account by entering your bank details there.

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