Customer Insight Towards UPI Payments

According to the NPCI, “Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application, merging several banking features, seamless fund routing& merchant payments into one hood. UPI’s overall importance comes from the intense desire and effort made by the RBI and the government to create a cost effective, simple and safe digital payment system that will be used for the large population of the country. According to the RBI, a digital payment platform should be simple, safe and efficient while carrying out payments. The Unified Payment Interface is a single-interface payment system, developed by the National Payment Corporation of India (NPCI). UPI: Unified Payment Interface is a smartphone application that allows users to transfer money between bank account. It is a platform where customers can link bank accounts held by different banks into a single UPI application and use their registered cellphone number to easily trade between them around the clock.