Unified Payments Interface (UPI) is a smartphone application for banking in India. It is an instant payment system developed by the National Payments Corporation of India (NPCI) that facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions. UPI eliminates the need to enter bank details or other sensitive information each time a customer initiates a transaction.

Some key features of UPI include:

• Users can access balances and transaction histories along with sending and receiving money.
• To send money, users need an account number, the Indian Financial System Code (IFSC), the mobile number of the recipient, and a virtual ID or Aadhaar number.
• UPI is accepted at merchant locations to ease transaction experience of Indian tourists.
• Each bank provides its own UPI app for Android, Windows, and iOS mobile platforms.

UPI is regulated by the Reserve Bank of India (RBI), Indias central bank, and is considered safe. UPI touched a value of ₹7.71 trillion in October 2021, which is a 56% jump from September.