UPI Frame work

Unified Payments Interface

UPI is a real-time payment system that enables seamless money transfers from one bank account to another instantly and free/charge through a UPI enable interface application.

Users can transfer money to each other with the help of a unique UPI ID or a Vertical address . Users can also transfer money by selecting receiver’s contact from their phone book or entering the receiver’s contact number.

UPI streamlines the process of transferring funds between individuals and businesses, enabling individuals to make online purchases, pay utility bills, and shop at brick-and-mortar stores through QR codes, VPAs, or UPI registered mobile numbers.

How UPI Works

• UPI brings together multiple bank accounts into a single mobile app.
• It merges features from participating banks, allowing seamless fund transfers for both customers and merchants.
• UPI operates on a secure, layered architecture with robust encryption to ensure data confidentiality and integrity during transactions.

What are the security features in UPI?

The Unified Payments Interface (UPI) incorporates robust security features to ensure safe and secure transactions. Let’s delve into the key security aspects:Binding with Mobile Number

• Two factor authentication (2FA)
• Encryption and security
• Virtual ID (VPA)