UPI Full Form – Unified Payments Interface – csshint

Full form of UPI is united payment interface. This is one of the smartphone applications which help the person to make and receive the payment directly to the bank account. In this application its not needed to enter bank account details and other details on every transaction. With the help of UPI we can save our time and energy to go the bank to deposit and receive payments.

How to register for UPI

It’s very easy to register for UPI. Just follow the steps described below.

First download the UPI payment supporting app like google pay and phonepe.
Now they will ask you to choose the language, choose as per the comfort.
Now you have to enter that mobile number which you have used during opening your bank account.
Now they will ask to add your bank account so that you can get and do the payments. Now enter the bank details, your account number, the IFSC code of your bank and account holder name.
Now you will be asked to make a PIN number, which will of four digits to authorize all the transaction done by you. This makes the transactions secure.

Now your UPI is set to use.

How to do payment via UPI?

Open your app Gpay or Phonepe
Now enter the 4 digit pin your setted during registration.
Now click on the section named UPI payments.
Now click on send money or make payment option.
Now enter the details of the payee VPA, ie virtual payment address.
Now enter the amount you want to transfer to the payee.
If you have more than one account linked to the registered number then you have to select the bank account from which you want to transfer the payment.
Now you have to enter UPI Pin.
Now click on submit.

That’s it, money will be transferred, and sometimes you may get some reward of cash back or coupons.

Method to receive payment

Open the app and type the pin you used during registeration.
Now you have to click on UPI payments.
Now click on request money or collect money option.
Now you have to type VPA of the payers and then add the payment amount you want to receive from him.
The request of payment will be notified to the payer.
After accepting your request of payment, he or she will type in their UPI to do the transaction.
When he or she enters UPI pin the amount will be credited to your account.
After the transaction payer and payee both will get the notification.