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All you need to know about UPI, the Unified Payment Interface

The UPI technology promises to change the way Indians carry out transactions, and aims to move to a largely cashless economy at the retail level

Shishir Asthana  |  Mumbai 

The way we undertake money transactions in India is expected to change dramatically with the introduction of the Unified Payment Interface (UPI), which aims to move the country towards a more cashless model. Developed by The National Payment Corporation of India (NPCI), the payment interface is expected to be a game changer in mobile banking. Shikha Sharma, managing director and CEO of Axis Bank, considers UPI the ‘WhatsApp moment’ for payments in India. The Reserve Bank of India (RBI) in its Payment System Vision Document (2012-2015) had mentioned the use of UPI for ...

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First Published: Tue, April 12 2016. 16:22 IST
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