by Sonal Deo
Published Thu, Apr 27th 2017, 14:32 | Finance
Unified payment interface app is a single app that helps a person link multiple bank accounts into a single mobile application. UPI app helps you into merging the banking features, fund routing, transfer and payments into one single interface. The unified payment interface app also serves to the peer to peer collection request which can be paid as per request and convenience of the person. There are several banks that have their UPI you can download UPI app for sending and receiving money by simply using your smart phone.
Download UPI app for simplifying the online transactions. Now when you have to make any transaction there is need of the bank account details like the account number, the credit card details, the debit card details, the password or the IFSC code. Thus the unified payment interface app has simplified the process of banking. You don’t need to remember these confidential details anymore; it is just like push and pull mail.
When you download UPI app you simply need to input the required details, you will then get a billing request on your phone. If you accept the request the transaction will be carried on if you decline the request the transaction stands canceled. The money then which will get transferred instantly from your bank account. The money will be sent directly sent to the receiver’s account and there will be a digital record of the transaction that took place between two people. The UPI app has two factor authentications and is safe and secure to use. You need to register your phone number, and set a password to accept as well as send payments across. This makes the unified payment interface app a secure method for payments too.
When you download UPI app you don’t need to share the bank beneficiary details you can simply share the VPA which is the virtual payment address to send and receive money. There is a unique id which is similar to your email ID. You also need to set an M PIN password. So when every time you make any transaction they will ask you for this M PIN. Unlike NEFT and RTGS, the unified payment interface app works 24 * 7 for 365 days even on holidays and Sundays. This has made banking really easy and has brought banking on your fingertips.
With the Download Upi App here is the core transaction functionality. When you send a pay request you will be notified whether you are sure to make the payment or carry the transaction. Once you approve this the money will be sent to you. The approval will be sent on the registered mobile number. Your debit account will be used for carrying out the transaction. Hence, the money will be deducted form your account to the receiver. You will keep a virtual record of your transaction. You can even keep a check on the balance of your linked bank accounts. Thus, UPI has revolutionized banking by bringing the tedious process of online transfer easy and feasible. Also the processing for the transaction is very nominal which 0.50 paisa per transaction is.