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UPI app to be loaded with more features

Incorporating the bill payments function and setting up its own check on the number of transactions per user per day to prevent suspicious transactions are among additional features that the National Payments Corporation of India is working on to make its newly-launched payments solution Unified Payments Interface (UPI) more comprehensive and secure. Currently, two applications — for person-to-person money transfer and for e-commerce transactions — are available on the smartphone-based UPI, which was launched on August 25. UPI enables sending and receiving money in real-time through a mobile application. Banks — 20 at last count — have uploaded their UPI app on Google Play Store. The service facilitates ‘virtual payment address’ as a payment identifier for sending ... Read more

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