Unified Payments Interface
| Industry | Finance |
|---|---|
| Founded | 2016 |
| Headquarters | Mumbai, Maharashtra, India[1] |
Key people | Nandan Nilekani |
| Products | Online platform for transactions |
| Parent | NPCI |
| Slogan | Less cash more digital |
| Website | Official site |
Unified Payments Interface (UPI) is an architecture and a set of standard APIs to facilitate the next generation online immediate payments leveraging trends such as increasing smartphone adoption, Indian language interfaces, and universal access to Internet and data.[2] UPI was launched by National Payments Corporation of India with Reserve Bank of India's vision of migrating towards a 'less-cash' and more digital society. NPCI has has built on the Immediate Payment Service(IMPS) platform through which one could transfer money instantly by going online-by adding another layer that allows easy debit capability even on mobile phones.[3]
See also
References
- ↑ "National Payments Corporation of India". Npci.org.in. Retrieved 2011-03-16.
- ↑ "Unified Payments Interface system : Faster, easier and smoother". Indian Express. Retrieved 2016-04-15.
- ↑ "Here's why Unified Payments Interface can be a game changer in the era of cashless payments". Firstpost. Retrieved 2016-04-14.
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