UPI Feature & How To Use

Hi friend today I am writing about UPI (Unified Payments Interface). I am writing this because earlier I don’t know about this system or technology, and I stuck lot of time when I have to pay someone and I don’t have enough money. Then I realize if we can do recharge of mobile and add money to DTH, than why should we can send money to bank or person without Internet banking or without go to the bank. Then I found UPI and its feature, it’s come to me earlier but I didn’t want to take risk with my bank account. And then I got an emergency and I did use this, and guess what now I didn’t use Internet banking for checking my account or fund transfer or use debit card to pay. So that’s why I am writing about UPI.

India emerging with technology, and we have lot of option for carried our money with us, with the help of apps of our mobile. There are many options like mobile wallet, Internet banking apps or through credit or debit card payment with apps and very important is UPI. There is lot of apps like Paytm, Pay, Amazon wallet, Airtel, and Google Tez and NPCI’s app BHIM. Some are use wallet and some use both wallet and UPI. BHIM app is controlled by National Payment Corporation of India (NPCI). NPCI is an initiative of Reserve bank of India (RBI) and Indian bank association (IBA), its settle all payments of India from any medium.

Lot of bank launch their BHIM apps like BHIM SPI pay, BHIM PNB, BHIM Axis, BHIM BOI and many more. But I like BHIM SBI pay and its very good and user-friendly app to use.

Paytm app using wallet and UPI both, and they also open payments bank, but it’s more like a digital bank in your mobile. Airtel started UPI only for postpaid customers only yet and it will soon come for prepaid customer. Airtel and Paytm open their payment bank account with their mobile number, which we use for enrolling in app.

Now talking about feature of UPI, when u sends money UPI to other UPI it will be totally free and instantly but only one hundred thousand only per day per UPI. And might be in future it will take charge for that. If you will send UPI to RTGS, NEFT or IMPS it will charge only .50 paisa only, and the limit is same one hundred thousand only. U can send money also to Aadhar number, yes you read right, we can send money through Aadhar number. Aadhar is unique identification number which will give by India and only for Indian citizen. Now the question raise here that if we have 1 or more bank account than how Aadhar will work, in my knowledge yet the last bank account where you update your Aadhar it will go there as I know, but I am not confident because I didn’t use send money to Aadhar.

Now how can we install or log in, it is simple u just have to download app through android play store or ios app store. After download you have to give a bank name which you want to use UPI than it will ask to send a message through registered number which will in the database of your bank, in this process you don’t have to write any message it automatically write for you, you have to only choose the Sim if you are using double Sim mobile and touch to send button. It will send a message and it will add and now you have to set UPI pin here, now to create UPI pin you have to fill your debit card details, only for once and then create pin for UPI. Now after creating UPI pin u can set your UPI name as u like. Some apps also ask for set pin in app for security reason and it good for security of your account. We can add multiple bank account with register mobile number for UPI if the UPI app will allow, in my knowledge BHIM SBI pay app can use multiple UPI account.

Now u can send money to UPI, just touch the pay option and write the UPI name where you send to money, type how much money u want to send, you can also type description and hit to send it will ask the pin and money will go instantly, and u will receive message instantly. We can also pay through using bar code, or send money with account number with name and IFSC code and with Aadhar number, we can also request for UPI transfer

So this is UPI and its feature and how to use, it gives a way to paying or transferring money without going bank and waiting in queue. But it has draw back like u can transfer of send money only in a limit which is one hundred thousand rupees only. Now I am ending this post, sorry for English mistake. If the information given up is wrong or something I missed to cover, please comment, I will correct, if any there.