UPI stands for Unified Payment Interface (UPI). It allows transfer of money from one bank account to another instantly via one’s mobile phone. Payments can be made via app on mobile device only. The money gets transferred instantly via UPI. It works on all days including holidays on 24×7 basis.
To use UPI, you must install UPI app on your mobile device. Use of UPI is completely FREE. There are no charges at all. There are many third party UPI app available in the market. Some of the popular apps are:
- Google Pay – Most popular
- Amazon Pay