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Monday, November 16, 2020

What is UPI ?

What is UPI - How to create a UPI account - How to transfer money from UPI

Since the closure of the note captive and corona virus, the digital payment system is increasing day by day and people are using NEFT, IMPS, RTGS and UPI more.


But many people do not know about UPI and for this reason they are not able to use UPI properly.


Today in this post we will know how to transfer money from UPI Kya Hai and UPI, but before going about UPI, we will first know about the term UPI.


UPI Full Form: - "Unified Payment Interface".


What is UPI?

The UPI app is a unified payment interface in which money is transacted with the help of IMPS. With the help of UPI, you can instantly transact money in any person's bank account.


With the help of UPI, you do not need anything other than UPI ID to make money transactions.


What is UPI ID ?

UPI ID is a code address with the help of which you transact money.


This UPI ID is similar to your bank account ID, your mobile number and with the help of this ID, you take and transfer money.


What is UPI ID Number ?

The way your UPI ID is. In the same way, UPI number is also there, within some UPI apps your UPI ID is made up of alphabetic digits and in some UPI apps it is made up of numeric digits.


So in the app where UPI ID is created from your numeric digits, we call it UPI number, inside which your mobile number or some other number can also be included.


What is UPI PIN?

When we create our UPI ID, then we have to connect that UPI ID with our bank account, along with that we have to create a code or PIN with the help of which we can process any transaction.


This UPI code is one of the keys to processing the money you send. If you are sending money to a person and in that transaction you put your UPI PIN code, then money will be deducted from your account and will go to that account.


What is UPI Code?

UPI code is also like UPI PIN, these two are same, some people call it UPI PIN and some people call it UPI code, there is no difference in it.


Yes, there can be a difference in the digits of this code, any UPI has a 4-digit UPI PIN and code and in some UPI app, you can have a 6-digit UPI PIN and code.


UPI VPA Full Form ?

UPI VPA Full Form: - "Unified Payment Interface" is "Virtual Payment Address".


What is VPA in UPI?

VPA is a virtual payment address of a unified payment interface in a UPI. This virtual payment address used within UPI is an address with which you work to receive money.


Whenever you connect your bank account with the UPI app inside the UPI app, then the UPI app makes you a unique VPA. This VPA can be numeric or alphabetic. Which we also call UPI ID.


What is UPI Account ?

When you create an account to add your bank account within any UPI payment app, with the help of your mobile number or email ID, we call that account UPI account.


This UPI account keeps the information of all the transaction transactions done by your UPI ID or address, with the help of which you can do transactions of UPI and can transact money.


UPI Money Transfer ?

The way we do transactions using NEFT, RTGS, IMPS, transfer money, in the same way UPI money transfer happens when you send or receive money with the help of UPI in UPI app.


We call it UPI Money Transfer. In UPI Money Transfer, whenever we work as a sender of money, the money is sent or received inside the bank account only with the help of IMPS, but before all this the entire process is UPI. ID is through, hence it is called UPI transaction.


What is UPI Transaction ?

UPI transaction is a transaction between two UPI ID addresses. In this transaction, we can see the process of receiving and sending money.


If you send money to someone with the help of your UPI ID, then your UPI transaction will have to send the money.


If someone sends you money with the help of UPI ID and you receive it on your UPI ID, then your UPI transaction will be for receiving UPI transaction money.


This transaction is a transaction of money transactions that you see inside the app within the UPI account.


UPI Money Transfer?

To transfer money from UPI, you should have UPI ID or UPI address of the person to whom you want to transfer money.


Because if you do not have UPI ID or VPA of that person, then you cannot transfer money to that person with the help of UPI.


Money transfer process of UPI is very simple in which all you have to do is to enter UPI ID and click on Send Money, the person in front has to enter the UPI ID address code and enter the payment amount and verify the payment with your UPI PIN.


Nowadays, with the help of QR code, the transaction of money has become very easy within the UPI app, with the help of this QR code, you do not need to take or enter any person's UPI ID to send money.


All you have to do is go inside your UPI app and click on the scan QR code option, then scan the QR code of the person to whom you want to send money and then your UPI ID will be automatically selected in front of you In which by writing as much money as you want to send, you can make the payment successful by verifying the transaction with your UPI PIN.


UPI Moeny Transfer Online?

UPI Money Transfer works online for this, your mobile phone should have an internet connection, you have to use UPI app to make UPI payment.


There are many mobile apps on the internet for making UPI payments, with the help of which you can conduct UPI online transactions, but for this you have to download those UPI apps in your mobile phone and then to make UPI money transfer online. Internet connection will have to be kept in your mobile phone.


5 Best UPI App

Below we have given the list of 5 best UPI apps that you can download and create your UPI account on top of them and you can also do UPI transactions along with that.

Bhim UPI

Paytm

Amazon Pay

Google Pay

Phone Pe