Do you also use UPI to transfer money daily in seconds? Do you know the full form of UPI? Tap to know and check other details too.
UPI is a real-time payment system that allows money transfer between bank accounts through mobile devices. The launch of UPI has made digital payments faster and better.
To make UPI payments, you need to register your bank account on the UPI-enabled app. Once registered, fill in the recipient’s UPI ID, type the amount, enter your PIN, and the money will be transferred in seconds.
According to the National Payments Corporation of India (NPCI), UPI stands for Unified Payments Interface. It was developed by NPCI under the Reserve Bank of India.
From instant money transfer to easy 24/7 accessibility, UPI has endless benefits. Your payments are secure with two-factor authentication, without any hassle.
The daily transaction limit is the maximum amount of money that can be transferred in a day from an account using UPI. Generally, the limit is Rs 1 lakh per day.
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