What is the meaning of UPI?

A. Unified Payment Interface

B. Unfind Pay Interface

C. Unique Payment Interface

D. Universal Payment Interface

Correct Answer is :

A. Unified Payment Interface

Explanation

UPI stands for Unified Payments Interface. It is an instant real-time payment system developed by the National Payments Corporation of India (NPCI). UPI allows users to transfer money between bank accounts using their mobile phones. It enables seamless fund transfers without the need to know the recipient's bank account number or IFSC code. UPI has become widely popular in India for its convenience and ease of use in making payments, including person-to-person transfers, bill payments, online purchases, and more.