UPI Transfer

UPI or United Payment Interface is a payment system that helps in instant transfer of funds between wallet and bank through a mobile platform.

In other words, it acts as a platform for different banks to get into one single application. This trending payments system in India is the fastest payment gateway and has been developed by the National Payments Corporation of India(NPCI) and regulated by the Reserve Bank of India(RBI).

UPI is completely build on IMPS technology with an aim to instantly transfer funds from one bank account to another bank account with the help of a UPI Virtual Address(unique address given by the bank) or through Bank account number and IFSC.

Features of UPI

The features of UPI interface are as follows:

Bank details are not required; only UPI ID or VPA is required

Transfer upto ₹1 lakh in every transaction

Simple virtual address for money transfer

After a UPI app, you do not require multiple apps for your respective banks. It is simply based on the concept of One App, All Accounts. A single UPI would serve many bank accounts.

Transfer money anywhere at anytime

Secure with single click

Available 24 *7

Although the transaction limit per UPI transaction is ₹1 lakh, the upper limit depends on bank-to-bank. Therefore, the upper limit could be between ₹10,000- ₹1 lakh. The limit may be revised from time-to-time