Tech giant Google launched its own IPU payment app Google Pay which is one of the popular payment apps which allows users to shop online, pay bills, recharge mobile or send and receive money directly from/into your bank account in time real using Unified payment interface (UPI). The app allows users to transact using UPI ID, QR code, address, account number and mobile phone number.
what is a UPI PIN?
The UPI PIN is a 4 or 6 digit number that you enter when adding a new payment account or transaction. They act as a means of initiating and receiving transactions. Users do not have to go through the usual payment methods like Domestic Electronic Funds Transfer (NEFT), Real-Time Gross Settlement (RTGS), checks or net banking to initiate transactions. This is an application that is offered by all banks to transfer payments quickly.