Launched in 2016, Unified Payments Interface (UPI) has become the most popular payment option in the country. It has even left behind credit cards and debit cards in this aspect. This payment method allows customers to link their multiple bank accounts on a single platform, which is usually a simple mobile application, and make payments in seconds without filling in any banking details. Today, almost every other customer prefers to make payments using UPI rather than using any other option. This is the main reason why every business must use a UPI enabled payment gateway to make their operations frictionless. The best part is, you can easily find a free UPI gateway for which you don’t have to pay any additional charges. Keep reading to find out the 5 biggest benefits of using a UPI enabled payment gateway!
What Is UPI?
Unified Payments Interface is a real-time payment system designed and launched by the National Payments Corporation of India, with an aim to help users to make instant payments. It was launched back in 2016 and is powered by the Reserved Bank of India.
Soon after its launch, reputed local banks released their own UPI applications. And not just that, many third-party services like Google and Phonepe also launched their UPI apps, which are among the most used UPIs in the world today’s world.
Within a couple of weeks of launch, ICICI’s UPI app has crossed 1 lakh downloads, such as the popularity of this payment method. After some time, … READ MORE ...