What are UPI apps? This is how they are used

Mobile wallet companies were the biggest beneficiaries of Prime Minister Narendra Modi’s demonetisation decision. The government-backed Unified Payments Interface (UPI) was not in the news initially. But now the government has started marketing this platform. Despite being an excellent platform, UPI was not liked by many people during demonetisation.

Through UPI, you can make payments directly from your bank account, just like you do with a debit card, net banking or checkbook. For this, your mobile number must be registered with your bank. It is used to verify the account. Whenever you sign up for the UPI app, the system verifies your mobile number only. After the mobile number is verified through the UPI app, you can create a Virtual Payment Account (VPA). With this, MPIN can be created which can be used for transactions.

As of today, around 30 banks have joined the UPI platform. Apart from this, more than 20 UPI apps are also available on Google Play and Apple App Store. The beauty of the UPI system is that you can register on the Axis Bank UPI app. And you can link HDFC or Union Bank account with it. Some UPI apps also work as mobile wallets. At the same time, you will be able to recharge mobile and DTH through some apps. These include ICICI Bank’s Pockets app and the PhonePe app in partnership with Flipkart and Yes Bank.

When you transact using the UPI app, you are charged a service tax of Rs 5. The same charge is also levied by banks for IMPS banking.

Links to download UPI apps

1. SBI Pay: Android

2. HDFC Bank Mobile Banking: Android, iOS

3. ICICI Pockets: Android, iOS

4. Axis Pay UPI App: Android

5. Union Bank UPI App: Android

6. PNB UPI: Android

7. PhonePe: Android

8. Canara Bank UPI-eMPOWER: Android

9. United UPI: Android

10. Andhra Bank One – UPI App: Android

11. UCO UPI: Android

12. Bank of Maharashtra – Maha UPI: Android

13. Vijaya UPI: Android

14. South Indian Bank – SIB M-Pay (UPI Pay): Android

15. KBL Smartz (UPI): Android

16. OBC UPI PSP: Android

17. UPI Bank Transfer with Friends: Android

18. DCB Bank UPI App: Android

19. Lotza-UPI: Android

20. Tranzap – UPI: Android

21. CSB UPI: Android