In India, UPI is one of the best payment methods that can be used through the mobile phone and the transaction settlement happens in real time. this service is available for free of cost across the country so any bank customers can access this service by activating it in a minute. this service does not take long for activation and one can easily do it by installing the authorised application from the NPCI or even they can use the 3rd party applications like Paytm or Google Pay etc.
Until now this service was available for all the users having the bank account because the money is debited directly from the bank account after authenticating by entering the PIN. This pin can be changed at any point in time so security is not a concern since only the authorized phone can be used to make the transaction and if someone gets it then a pin is also required to facilitate the transaction.
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It means we can pay any merchant or the user using UPI facility and all it needs is a mobile phone with activated services. There is one restriction that must be in place your bank account number must be linked with the mobile number that you have inserted in your mobile phone. You need to have the same mobile number and then it can be used for using the ubi payment service it allows us to make payments to merchants as well as individuals and both services are available free of cost.
Now there is another enhancement in this service which is pretty good. With the recent enhancement, credit cards can be used to make up payments and this is a good option indeed because it is going to help a lot of people who are credit card users. Earlier we were able to use the service only if you have the balance in your bank account but now with credit cards, this can be used so even if you have no balance in your bank account also you should be able to pay on UPI. As we know the credit card is something that we use first and pay the outstanding later as per the billing cycle.
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