Payments, Fintech & Accounts

What is UPI and how does it work in India?

UPI, the Unified Payments Interface, is India's real-time payment system that lets users transfer money instantly between bank accounts using a mobile app. It works by linking your bank account to a virtual payment address or UPI ID, so you can send or receive funds without sharing full account details. For example, scanning a QR code or entering a UPI ID and approving the payment with a PIN moves money in seconds, around the clock. UPI is operated under the National Payments Corporation of India and underpins much of the country's digital payment activity.