Year: 2017 | Month: June | Volume 5 | Issue 1

Unified Payment Interface (UPI): A Cashless Indian e-Transaction Process



Payment systems in India have undergone rapid changes during the past few years. The Vision Document on Payment Systems released by the Reserve Bank of India states several measures for building a ‘less cash’ society. The adoptions of mobile and card payment systems are two key components of this initiative. This paper presents an overview of a transformational project initiated recently by the National Payments Corporation of India (NPCI). This article aims to empower the bank customer to ‘send’ and ‘collect’ money in real time with just an e-mail, like a financial address, both for person-to- person (P2P) payments and Business to Consumer (B2C) Collect. This paper also includes the comparison study of different UPI Apps.

© This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Print This Article Email This Article to Your Friend

International Journal of Applied Science & Engineering(IJASE)| Printed by New Delhi Publishers

19328780 - Visitors since December 11, 2019