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...
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 deducted from your account and transferre...