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What is UPI?

Janooji

Updated 21 September 2026

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UPI (Unified Payments Interface) lets you send and receive money between bank accounts in real time using a UPI ID, QR code, or account+IFSC, through apps such as GPay, PhonePe, Paytm, and BHIM. NPCI operates the rail; your bank holds the money.

UPI is not a wallet balance. A successful UPI payment debits one bank account and credits another. If the payee's bank is slow to confirm, the amount can sit as a processing debit and reverse automatically.

You can link more than one bank account to one app. Each bank can set its own UPI PIN. The PIN is not your debit-card PIN unless you chose the same number.

Sources

  • NPCI (opens in a new tab) · Official

    UPI product documentation

    Accessed 21 September 2026

  • Reserve Bank of India (opens in a new tab) · Government

    RBI

    Accessed 21 September 2026

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