UPI
Unified Payments Interface
UPI is India's real-time payments system that enables instant transfers between bank accounts using virtual payment addresses or QR codes. It provides a single interface for person-to-person and merchant payments.
UPI is operated by NPCI and runs on top of the IMPS infrastructure. It supports features like collect requests and recurring payments.
Related Terms
IMPS
Immediate Payment Service
IMPS is India's real-time payments service that enables instant bank-to-bank transfers. It supports ...
NEFT
National Electronic Funds Transfer
NEFT is India's national electronic funds transfer system for account-to-account payments. It proces...
QR Code Payments
QR code payments use a scannable code to initiate a payment from a mobile device or banking app. The...
IFSC
Indian Financial System Code
IFSC is an 11-character alphanumeric code used to identify bank branches in India for electronic pay...
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