Banks, being directly connected to NPCI, provide the UPI SDK that converts your app into a UPI app. The primary advantage is that there is no redirection to a third-party app. However, It is ideally used only by businesses having only UPI transactions and those who anticipate...
To use UPI, users first download a UPI-enabled app, such as PhonePe, Google Pay, or Paytm. After installation, they register by linking their bank account and creating a unique virtual payment address (VPA), such as user@bankname, which serves as theirUPI ID. Step 2. Initiating a Transa...
In 2024, ICICI Bank, SBI Card, and HDFC Bank have introduced significant changes to their credit card rules, including updates to fees, benefits, and reward programs. These changes impact things like airport lounge access, fuel surcharge waivers, and reward points limits. For example, SBI Card ...
The latter allows peer-to-peer and e-commerce payments by users including those who don't have an ICICI Bank account. "UPI is a path-breaking concept which will enable convenient person-to-person and merchant payments using mobile phones. I believe that it will revolutionize the landscape of...
How is E-rupee Different from UPI? One of the motivations behind launching a digital currency is to reduce settlement risk in the system. In the case ofUPI transactions, the transfer of money involves a settlement process, where you place a request with your bank, and the funds are then ...