UPI

India's instant real-time payment system facilitating inter-bank peer-to-peer and person-to-merchant transactions via mobile.

Developed by the National Payments Corporation of India (NPCI), Unified Payments Interface (UPI) integrates multiple bank accounts into a single mobile application. It eliminates the need for physical cards or sensitive bank details by using a Virtual Payment Address (VPA) or mobile number. In 2023, the system processed over 100 billion transactions, supporting features like QR code scanning, 24/7 availability, and immediate fund transfers across 300+ participating banks.

https://www.npci.org.in/what-we-do/upi/product-overview