What is the UPI, how to use it?

UPI is the Unified Payment Interface (UPI - Unified Payment Interface)

The UPI is an arrangement that is convenient for sending multiple accounts of multiple bank accounts through one single mobile application, paying money, buying and purchasing one place in one place! In addition to this, the method of depositing the peer to peer amount in the manner in which the amount is sent accordingly on the scheduled date and as required.
No need to login while sending money from UPI, no need for account numbers, IFSC is not needed.
Only a small user name (user name) that is called VPA or a virtual payment address in the UPI can send money to anyone in just a few seconds with the help of VPA!

What is the need of the UPI?

Practices like NetBanking have been introduced to make transactions more secure on the Internet. But sending money from them is difficult for quite a few times and matches. Along with this, there is a lot of confusion about which service you can get from the crowd of many options! That's why a straightforward approach has been initiated and this name is called UPI. This method can be used on any holiday for all days. And you have mobile handsets used for it!

Suppose you go to a nearest shop or if you want to send it to a bank account, you need to get information about their account and add beneficiary to the bank when paying them at the time. It can take time, as well as adding OTP every time. Your PIN is not secure when using plastic money such as a credit / debit card. Mobile Wallet has to pay the amount in that wallet. The solution to all of this is that the UPA deals directly with the bank.

The difference between mobile wallet and the UPI:

 The difference between mobile wallet and utility like PETIm is that the wallet has to be paid in cash from the bank. Money is not lost in mobile wallet as well, but it is not used properly. But in the UPA, it is traded directly from bank account. So, you can easily send money by reading half the time! The UPA gets accumulated directly from one's bank account.
If there is a situation that the mobile wallet will be discontinued immediately due to the UPA, the UPA will be included in mobile wallet by increasing the use of the UPA in the future.

Uses of UPA:

Presently, all the works can be done by NetBanking through the UPI! (Sending money, accepting money, recharging, paying bills, booking tickets, etc.)
Although the current mobile wallet is popular, the use of UPI in other places, such as taxis, cabs and autos, will be used in the near future when it comes to the simplicity of the UPA.

How to use the UPI?

I. Mobile app (online - while on the internet)
II. USSD (Offline-Internet)

UPI Mobile app: For this, you can go to the app store and discard the name of your bank and then write UPi and search. You will see the bank's UPI app. Eg SBI UPI, Axis UPI, ICICI UPI, PhonePe, Google Tez etc. Nearly all major banks have introduced UPI apps. Instead, you can also use PhonePe PhonePay submitted by Flipkart. More than 25 UPi apps are available at the Play Store. All the apps are working like this and any such app can be run by all bank account holders!

The method for using "PhonePay" is shown below. Other apps will do the same thing with slight changes.

Note:

Though the steps seem big, it is not always difficult. The clarity is further analyzed. In fact, all these steps take less than five minutes!

Note: Though the steps seem big, it is not always difficult. The clarity is further analyzed. In fact, all these steps take less than five minutes!

1. First download the PhonePe app.
2. After that enter your phone number and verify it. Remember that this phone number should be tied to your bank and it will be used forever! Once you tap on Verify, get OTP via SMS. Remove it and verify it.
3. After that enter some basic information such as your name, email ID, and then set a four digit PIN. Remember that you'll have to use this same PIN every time. That's why choose carefully the pin. Tick ​​on Accept Accept and tap Activate Account.
4. Then choose your VPA. It does not have to be your name. Pick a name that you can remember in your mind. Eg After typing myupi @ ybl, testupi @ sbi, tap Create New VPA.
(Remember that this name will be used next for your transactions!)
VPA abc @ sbi will be in the same format, this case is not case sensitive, so ABC @ sbi and abc @ sbi are same!
4. After that you will be asked to select your bank. And as soon as you select the appropriate bank, your account will be ready immediately. If you do not have an MPIN, then create a new one and tap on the SET PIN.
Otherwise, by choosing the RESET MPIN, the new MPIN can be changed.
(Some people will be asked for the last six digits of your card and the PIN will be asked. For the reason that MMID is used then go to what you are asked to do)
5. After that you will see the phone started. Now you can deal anytime!

Simply put in the steps above, download the app, enter the phone number, set the PIN for the phone, set the MPIN, and create the account.
Four-digit phone pin and six-digit MPIN are required when dealing.

How to send money through the UPI?

Install the UPI app

1. Now select the Send option under Transfer Money.
2. Now you will see three options like Contacts, VPAs, Bank Accounts.
3. Depending on how you want to send money, choose the options we are selecting for example VPA.
4. Now click on Add VPA and add the VPA to the beneficiary VPA to send the money and then click Verify. His name will automatically appear below! Now tap on confirm
5. Type the amount you want to send now and tap Send.
6. Finally you will be asked MPIN to confirm and transfer money right away!

Simply put the above steps in the above steps, open the app while sending money> Phone Number & PhonePe Pin> Send> Add VPA Verify> Add Amount> Add MPIN> Made Money Transfer !!!

Similarly, you can recharge, buy, pay a bill! You can also check the balance in your bank account right inside this app!
Choose the option to accept money. And select the VPA from whom you want the money. They get the message and they can send you money immediately!

According to some bank rules for UPI use, your mobile number should first be registered in the bank. After which you will get MMID. For more information refer to the article: NCPI Registration Process
This process of registration will be done only once, which is similar to starting a new card or starting NetBanking. This will give you userid and mpin. You can inquire at your bank branch about this and get a USER ID and MPIN!

II. The offline method for the US is through the USSD:
Offline transactions by the UPI can be called NUUP (National Unified USSD Platform).
USSD means you can check the balance, like dialing a number like * 121 #.
USSD - Unstructured Supplementary Service Data
RBI has issued the same number for all the bank account holders * * 99 #.
It also requires MMID and MPIN.
There are three options available for sending money
a Through MMID: Those who want to send money need a mobile number and MMID.
b. By account number: It takes account number, IFSC.
c. By Aadhaar Number: This option can be used if the Aadhar card is linked to the bank.

Although the rest of the app is not so convenient, this feature feature is that it runs from simple feature phone to smartphone to all phones. It is also without internet! This can be used by many!
Reference to know more about NUUP Product Overview