UPI is an acronym for an Indian payment method. It stands for Unified Payments Interface. It’s one of the more recent additions to the payments landscape but provides an innovative and useful service. Formed in 2016, it’s the brainchild of the National Payments Corporation of India, which is a company under the operation of the Bank of India. It essentially decided to try and remove barriers between different payment providers and allow Indian users the opportunity to put all of their payment methods into a single place.
As is the case with the majority of modern innovations it uses an app to provide this service. In another expected development the app is available to be used on mobile devices. UPI has a number of benefits and drawbacks associated with it. We’ve gone into detail about everything that you need to know when using UPI as a payment method.
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