Have You Heard About UPI, The Revolutionary Payment System That Is The Future Of Digital Wallets?!

 

What is UPI?
Unified Payments Interface (UPI) anedi NCPI (National Payments Corporation of India) launch chesina cross-bank virtual payment service. Idi completely app-based. Just mee mobile number and mee phone lo UPI app unte chalu oka person nundi inkoka person ki 24×7 (incuding bank holidays) elanti bank details enter cheyalsina avsaram lekunda instant ga money transfer cheyochu. Ee year april lo RBI governor Raghuram rajan garu deenni announce chesaru. Present 29 major banks UPI lo Payment Service Provider (PSPs) ga register ayyay.

 

How UPI works?
UPI complete ga IMPS (Immediate Payment Service) platform mida pani chestundi. Kani migata IMPS money transfer services laga munde beneficiary ni add cheskoni, vallani approve chesi, IFSC code enter cheyadam ee talanoppi antha undadu. Just miru oka virtual ID create cheskovali. Ade mee UPI identifier. Aa okka virtual ID ki mee bank accounts anni link cheskovachu. Virtual ID ila untadi. (1234567@uboi). Ikada ‘123456’ ni mee ishtamaina user name tho replace cheyochu. You can even keep your mobile number. ‘Uboi’ anedi miru vadtunna PSP/bank code. Ikada ‘uboi’ ante Union Bank of India. Miru eh bank di UPI service vadte mee virtual ID lo aa bank di bank code suffix laga automatic ga vachestadi. So miru evarikaithe money transfer cheddamanukuntunnaro aa other party ki kuda virtual ID unte chalu. Miru instant ga valla virtual ID enter chesi money transfer cheseyochu. Inkoka interesting thing entante miru UPI partner banks loni eh bank di aina UPI app vadochu miru aa bank customer kakapoina kani. For example miku Andhra bank lo account undi ankondi, miru axis bank di UPI app download cheskoni andulo mee Andhra bank account ni link cheskoni vadochu. Sounds cool right?

 

Difference between other mobile wallets and UPI
Mana dagara ipudu chala digital wallets unnay money transfer cheyadaniki. But prati sari vatini recharge cheskovali. And transfer limit kuda takkuve. Ikada direct mee bank account digital wallet laga maripotundi. And okate virtual address ki miku unna anni banks link cheskovachu. RBI norms prakaram transfer limit 1 lakh undi. Future lo prati payment service ki, like shopping, fee payments ki, bill payments ki, UPI implement avtadi. So one app mee payments needs annitini fulfill chestadi. Change problem kuda undadu migata wallets lo laga.

 

Prominent Apps That are providing their UPI now?

Andhra bank
Axis bank
Bank of Maharashtra
Bharatiya Mahila Bank
Canara Bank
Catholic Syrian Bank
DCB Bank
Federal Bank
ICICI Bank
Oriental Bank of Commerce
Karnataka Bank
UCO Bank
Union Bank of India
United Bank of India
Punjab National Bank
South Indian Bank
Vijaya Bank
Yes Bank
TJSB Sahakari Bank Ltd
Paytm BHIM
TEZ
HDFC PAYZAPP

 

Customers of IDBI Bank and RBL Bank can use any of these apps to link their accounts. In the next 3-6 weeks SBI, HDFC Bank and Kotak Mahindra Bank Ltd will launch their apps.

Note- Ee apps present only Android users ki matrame available unnay. iOS ki ravadaniki inkoka 6 months pattochu.

 


How to register and use UPI app for transfers?

First unna banks loni edaina oka UPI app ni playstore nundi download cheskondi. Nen first demonstration kosam Union Bank of India app use chestunna.

 

Miru app open cheyagane mee mobile number validate cheyamani adgutundi. Mee bank account ki link ayyi unna mobile number select cheskunna tarvata app mee number nundi oka SMS pampi validate chestadi.

point 1

 

Next mee details anni enter chesi, oka login password set cheskoni registration confirm cheyandi.

point 2

 

Registration successful ayyaka miku main interface vastadi. Andulo add bank a/c option select cheskondi.

point 3

 

Ipudu list of banks chupistadi andulo miku account unna bank select cheskondi.

point 4

 

Ipudu mee mobile number ki link ayyi unna account automatic ga chupistadi. Bank account select cheskoni submit cheste mee account add aipotadi.

point 5

 

Ipudu create virtual address option select cheskoni mee ishtamaina ID petkoni submit cheyandi.

point 6

 

Next mee virtual address ki m-pin set cheskondi. Set m-pin option select cheskunnaka mee debit card last 6 digits and expiry date adgutadi. Avi fill chesi submit cheyandi.

point 7

 

Ipudu verification page loki veltaru. Indulo mee mobile banking ki use chese m-pin enter cheyandi. Okavela miku m-pin lekapothe page lo generate m-pin ani option chupistadi. Ipudu miku oka OTP SMS lo vastadi. M-pin and OTP rendu enter chesi submit cheyandi. Mee virtual address ipudu activate ainatte.

point 8

 

Same procedure use chesi miku unna anni bank accounts ni link cheyochu same virtual address ki.

 

Ipudu evarikaina money send cheyalante pay option ki velli other party di virtual address or a/c no. + IFSC or aadhaar edaina okati enter chesi next amount enter chesi send cheyadame. (Aadhar number tho money send chese option present anni banks support cheyatledu future lo implement avtadi)

A/c no + IFSC option use cheste only UPI partner banks matrame kakunda any bank ki money send cheyochu.

 

India ni complete cash less economy ga cheyadaniki RBI tiskunna initiative idi. Future lo every personal, commercial transactions UPI platform mida jargutay. Be future ready.

 

If you wish to contribute, mail us at admin@chaibisket.com

Tags: , , , , , , ,