Features of UPI Payments
- UPI allows users to link multiple bank accounts to a single mobile application, which can be used for fund transfers.
- It provides an easy-to-use interface that allows users to send and receive money by using virtual payment addresses (VPAs) or mobile numbers linked to their bank accounts.
- It is available 24x7, and fund transfers are processed in real-time.
- It provides the ability to initiate fund transfers and receive payments directly from a bank account, without the need for any intermediary.
- UPI allows users to check their account balance, view transaction history, and generate bank statements within the mobile application.
- UPI also allows users to make payments for goods and services, as well as pay bills and recharge mobile phones.
- It provides a highly secure payment system, with two-factor authentication and encrypted transactions.
- UPI has become increasingly popular in India, with various digital payment apps offering UPI-based services, making it easy for users to use and access the service.