By Jasreet Kaur07, Jan 2025 04:00 PMjagranjosh.com
Do you know?
UPI is a fast and easy way to send and receive money through your phone. It connects different banks, bill payments and shopping with just a few taps. Tap to read in detail.
What is UPI?
UPI (Unified Payments Interface) is a fast and easy way to send or receive money using your phone. It is developed by the National Payments Corporation of India (NPCI).
Linking Bank Accounts
To use UPI, you need to connect your bank account to a UPI app like Google Pay, PhonePe, or Paytm. You can link multiple bank accounts in one app.
Creating a UPI ID
You will get a special UPI ID, like an email address, that’s connected to your bank account. You use this ID to send and receive money.
Sending and Receiving Money
To send money, just enter the other person’s UPI ID, type the amount and confirm with your UPI PIN. The money will transfer immediately.
Transaction Limits
Each time you send money, there’s a limit on how much you can send (usually ₹1 lakh). Different banks may have different limits.
Security Features
UPI is secure. Each payment requires a PIN that only you know, which keeps your money safe from fraud.
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