Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single
mobile application (of any participating bank), merging several banking features, seamless
fund routing & merchant payments into
one hood. It also caters to the “Peer to Peer” collect request which can be scheduled and
paid as per requirement and convenience.
With the above context in mind, NPCI conducted a pilot launch with 21 member banks. The pilot
launch was on 11th April 2016 by Dr. Raghuram G Rajan, Governor, RBI at Mumbai. Banks have
started to upload their UPI enabled Apps
on Google Play store from 25th August, 2016 onwards.
How is it unique?
Immediate money transfer through mobile device round the clock 24*7 and 365 days.
Single mobile application for accessing different bank accounts.
Single Click 2 Factor Authentication – Aligned with the Regulatory guidelines, yet provides for
a very strong feature of seamless single click payment.
Virtual address of the customer for Pull & Push provides for incremental security with the
customer not required to enter the details such as Card no, Account number; IFSC etc.
Best answer to Cash on Delivery hassle, running to an ATM or rendering exact amount.
Merchant Payment with Single Application or In-App Payments.
Utility Bill Payments, Over the Counter Payments, QR Code (Scan and Pay) based payments.
After successful login, user selects the option of collect money (request for payment)
User enters remitters/payers virtual id, amount and account to be credited
User gets confirmation screen to review the payment details and clicks on confirm
The payer will get the notification on his mobile for request money
Payer now clicks on the notification and opens his banks UPI app where he reviews payment
Payer then decides to click on accept or decline
In case of accept payment, payer will enter UPI PINto authorize the transaction
Transaction complete, payer gets successful or decline transaction notification
Payee/requester gets notification and SMS from bank for credit of his bank account
Request Money using UPI -
A. Financial Transactions: UPI supports the following financial transactions viz.
Pay Request: A Pay Request is a transaction where the initiating customer is pushing funds to
the intended beneficiary. Payment Addresses include Mobile Number & MMID, Account Number & IFSC and
Collect Request: A Collect Request is a transaction where the customer is pulling funds from
the intended remitter by using Virtual ID.
B. Non-Financial Transactions: UPI will support following types of non-financial transactions on any
PSP App viz.
Mobile Banking Registration*
Generate One Time Password (OTP)
Check Transaction Status
Raise Dispute/Raise query
* Mobile Banking Registration is possible only if the mobile number (which is to be registered) is
registered with the Issuer Bank for SMS Alerts/mobile alerts.
UPI can be accessed on all platforms viz. Android / iOS – The Apps have been developed by members on
Android 4.2.2 and above/iOS 8.1 and above platforms.