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Features of Unified Payments Interface (UPI)

Unified Payments Interface, widely known as UPI across India, is a product of the National Payments Corporation of India (NPCI). UPI serves as an amalgamation of several banking features to ensure ideal merchant payment and routing of funds. In the form of a single mobile application, UPI enables instant money transfers, access to different bank accounts, bill payments, and Quick Response (QR) code payments, to name a few. Since 2016, most banks in India have been providing UPI enabled facilities on their respective banking applications.

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Key Features of UPI

  • Compared to single-factor authentication, where users provide only one factor – usually a password or PIN code, UPI has a 2 Factor Authentication (2FA) that uses an additional layer of safety – biometrics, security tokens and One-Time Passwords.
  • Virtual Payment Address (VPA) is a unique ID used to make payments through a UPI app. You will no longer have to fill in your bank details repeatedly.
  • UPI leverages an effortless onboarding process.

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Benefits of UPI Payments App

  • NCPI does not levy any transaction charges on UPI. For transactions conducted through Debit Cards, Credit Cards or NEFT, you usually have to pay a nominal fee for making payments to merchants.
  • There is no lower limit on the amount of money you can transfer through the UPI payment app. This has made it easier for modest stores to accept small payments.
  • Due to its round the clock availability and instant transfer feature, you can make payments any time of the day.
  • With many UPI applications available, you have the liberty to use the app of your choice. Most banks will have UPI enabled on their eponymous apps; however, you can download third-party, non-banking digital payment apps as well.
  • For online merchants, UPI comes in handy while requesting payments. The merchant will send you a message requesting the payment via the bank. Only after successful payment will the merchant process your product delivery.
  • Different UPI apps offer additional rewards or cashback for their app usage.
  • NPCI has launched the UPI AutoPay function for recurring payments. Thus, by enabling this function on your UPI app, you can duly pay your utility bills.

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Frequently Asked Questions

  • Download the UPI payment app of your choice from the app store on your phone.
  • Create your profile by entering your personal details, virtual ID, passwords, and such.
  • Link your bank accounts to the virtual ID by selecting the appropriate options.
  • You will also have to assign a PIN to your UPI transactions. You will receive an OTP on your bank-registered mobile number. Use this OTP and your debit card details to create the UPI PIN.

  • Login to your UPI app and select the option to send or transfer money.
  • Enter the beneficiary’s virtual ID (VPA) and the transfer amount.
  • Verify your details before confirming and complete the payment by entering your UPI PIN.

Currently, the maximum amount you can transfer through UPI is INR 1 Lakh.


Regulated by the Reserve Bank of India, the UPI retrieves your bank account details linked to your registered mobile number.


You need not do anything. The bank will initiate a refund of the amount into your bank account within an hour. In case the money is not refunded within the hour, you can get in with the customer support helpline of your bank.

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