Unified Payment Interface commonly known as UPI has now become more than a necessity. India has now taken a major step towards achieving a cashless economy with the advent of the Unified Payment Interface. This model lets you use your smartphone as a virtual debit card.
The concept has now almost eliminated the use of digital wallets.
What is UPI?
UPI is a linkage where multiple banking services and features are merged. The UPI PIN and ID are adequate to receive and send money. This virtual payment address or mobile number can be used to make real-time bank-to-bank transactions.
What are UPI PIN and ID?
UPI ID is a distinctive identification for a bank account that can be used to receive and send funds. UPI PIN is a 4-digit individual identification number that needs to be entered in order to approve the transfer of the amount via UPI.
There are many people who find it a bit tricky to create or find a UPI ID. So here are a few steps that will help you create or find one easily.
On Google Pay-
1. Open Google Pay.
2. In the top right corner, tap on your photo.
3. Tap Bank Account.
4. Tap the Bank account whose UPI ID you want to use.
5. You will find the associated UPI ID under “UPI IDs”.
On Paytm-
1. Click on your Profile Picture.
2. There will be your UPI ID and your QR code for receiving any payments.
3. Simply Copy and share your UPI ID.
On PhonePe-
1. Tap on your Profile Picture.
2. Click on “MY BHIM UPI ID” and you will find your unique ID.
