Neeraj Singh

  Image Credit: fonearena Background UPI, developed by the National Payments Corporation of India (NPCI) is a realtime payment system that facilitates interbank transactions through mobile phones. Earlier UPI transactions involved linking bank accounts but recent developments authorized by the Reserve Bank of India (RBI) in June 2022, have extended this functionality to include RuPay credit cards. This expansion aims to enhance convenience increase credit card usage and integrate credit facilities into the UPI ecosystem which is particularly relevant given the high transaction volumes with over six billion monthly transactions reported in 2022. The process begins with the customer linking their RuPay credit card to a UPI enabled app such as BHIM, GPay or PhonePe. This linking is a one time process after which the customer can use the credit card for UPI payments, authenticated by a UPI PIN specific to the credit card. The following sections detail the process flow and entities...

  UPI Payments is a very vast domain and covering it through a blog becomes more challenging. This blog aims to give a high-level understanding of UPI Payments in the most structured and organized way. Today world is digitizing at a great pace and hence stress would be laid in bestowing benefits to almost all groups influenced by digital Payments under professional and domestic growth. The topic will focus gradually on exploring the functionality and the mechanism behind this one of the simplest yet secured payment system.   Unified Payments Interface (UPI) is an instant payment system developed by the National Payments Corporation of India (NPCI), an RBI regulated entity. UPI is built over the IMPS infrastructure and allows you to instantly transfer money between any two parties bank accounts. Source : https://www.npci.org.in/ Abbreviations PSP - Payment Service Provider VPA - Virtual Payment Address P2P - Person to Person P2M - Person to Merchant UPI as Four P...

  UPI Payments is a very vast domain and covering it through a blog becomes more challenging. The objective of this blog is to give a high-level understanding of UPI Payments in a most structured and organized way. Today world is digitizing at a great pace and hence stress would be laid in bestowing benefits to almost all groups influenced by digital Payments under professional and domestic growth. The topic will focus gradually on exploring the functionality and the mechanism behind this one of the simplest yet secured payment system.   Unified Payments Interface (UPI) is an instant payment system developed by the National Payments Corporation of India (NPCI), an RBI regulated entity. UPI is built over the IMPS infrastructure and allows you to instantly transfer money between any two parties bank accounts. Source : https://www.npci.org.in/ Abbreviations PSP - Payment Service Provider VPA - Virtual Payment Address P2P - Person ...