UPI is easy to use Payment Service

In India, we have bought a payment option called UPI which is very easy to use and can be done just by using the mobile application. UPI means unified payment interface and it is built by NPCI which is the government organization. This service has been opened for Fintech companies and they can build a wallet through which the payment can be done and the overall setup process is also easy.

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Many wallets including Paytm Phone Pay and Google Pay can be used to perform UPI transactions. This is not just limited to the merchants and even individual payments can be done in a few seconds just by using the mobile number of merchants of course we can do this by scanning the QR. This service is available for free and there is no charge applied by any of the wallet providers. Now because this service is free and one can use it any number of times in a day it is encouraging people to use digital money and taking the country forward with the digital India initiative.

I have been using this service for quite some time and I like the use because now I do need not to visit the ATM to withdraw cash. There was a time when cash was a necessity but now having the balance in the bank account is good enough because we have the option to use it through the UPI.

The new and upgraded version of UPI is available now and on top of that they have also introduced another service called UPI Lite. This allows us to make the payment for a certain amount without any PIN identification which is good for those who do not want to enter a PIN every time. In a regular transaction, we must authenticate the transaction by entering a four or six-digit PIN but with the UPI lite, this is not required.

Thank you