UPI payments: What it is, how it works and why it's a game changer

UPI payments are the talk of the town everywhere now. From tea stalls to big shops, UPI payments are accepted everywhere. In this context, let's find out what UPI payments actually are, how they work, and other complete details.

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Published : Mar 15 2025, 03:57 PM IST

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UPI means Unified Payments Interface. This system was developed by the National Payments Corporation of India (NPCI). This system facilitates money transfer.

The UPI payment method allows users to send money, pay bills, and manage accounts through apps. UPI is useful for digital payments.

How does Unified Payment Interface work? To use UPI, users must download UPI payment apps. After installing, link bank account.

UPI is a fast, real-time system available 24/7, transferring money in seconds. NPCI doesn't charge extra for UPI payments.

UPI is merchant-friendly, ensuring fast transfers. It improves customer experience and offers easy integration.

UPI needs a bank account and internet-enabled mobile. You can transfer up to 1 lakh per day using UPI. It is safe.

To make UPI payments, create a UPI account. UPI ID is a unique virtual payment address. No fee to use UPI.

About the Author

Ajay Joseph

With over eight years of journalistic experience, Ajay Joseph Raj. P has been a dedicated member of the Asianet Newsable team, where he serves as the Chief Copy Editor. His expertise spans Business, Career, Stock Market, National, International, and viral/trending topics, with a knack for crafting compelling narratives that connect with diverse audiences. Before joining Asianet Newsable, Ajay honed his skills at OneIndia News and Opoyi English, gaining extensive experience in delivering impactful stories across various beats.