How to Use UPI ? | Is UPI Safe ? | Everything about UPI

Everything about UPI

UPI stands for Unified Payment Interface. UPI is easiest way to transfer money from your bank account to another. Before Year 2016 Most of the Transaction made by cash. That was a big problem because half of our country was depended on Cash. But After demonetization the trend of Cashless began. UPI was introduced in 11th April 2016. 

Many people still prefer cash on compare to cashless. They feel that cashless is insecure and if Transaction become fail so they lose money but this all myths will be cleared in this post. 

1.) What is UPI? 

    UPI is a method through which any person can Transfer money from their bank account to another in a few seconds. Do you all have used Email Id to mail someone. You can send mail by entering email id of other person. Same as UPI works. Everyone has their unique UPI Id. You only have to write that Id and then enter the amount to send. It works 24x7. 

2.) Who Manages UPI?

      UPI is Managed by National Payments Corporation of India. So, It is guaranteed that It is More safe and Secure than others.

3.) How UPI works? 

      UPI can Transfer from one bank account to another. It makes Payment Easy and Secure. Generally you have to enter bank account Number, IFSC code, Mobile Number , Sometimes it takes OTP as well to verify. But UPI works Instantly. 

4.) Why UPI?

      UPI is safe and Secure way to do Transaction in few seconds. There is no number of limits on it.

5.) What about other Payment Wallets?

      Payment Wallets Like Paytm, PhonePe Supports UPI. You can contact your bank to activate your UPI Id.

Generally UPI Id has first 10 digit of your mobile no. and then the bank name. Eg. 123456789@kotak. 

My Opinion :- According to me UPI is best way for payment. Government Introduced a good way for people to do daily life Transaction. It helps to be cashless India. But People is judge of it. People decide to use it or not. But I suggest you all to Once Try it for Transaction.