With Whatsapp embracing UPI-based payments feature, there has been a lot of buzz around the digital payment platform. Unified Payments Interface has been developed by National Payments Corporation of India (NPCI). While the payment platform has been around since 2015, it received a big push after demonetisation drive in November, 2016.
Currently, all major banks in India support the UPI platform. It has also been adopted by the likes of Paytm and technology giant Google, which launched India-focused Google Tez peer-to-peer payment platform based on UPI. According to the recent data from NPCI, BHIM UPI saw 171.40 million transactions worth Rs 19,126 crore as of February, 2018.
What is UPI?
Unified Payments Interface (UPI) is essentially a single platform that Continue reading