UPI (Unified Payment Interface) is an open payment platform to facilitate easy, quick, and secure payments. It is a new way of transferring money without having to use any physical money, cards, or a mobile number. UPI is the next generation of payments and is an important step towards a cashless society.

UPI allows customers to pay or collect money from any bank account using their Virtual Private Address (VPA). Customers can pay or collect money from their friends, family, and business partners using their VPA. They can pay by sending money to any UPI-compatible bank account registered with the customer. The recipient of the payment can either be a customer of the same bank, or a friend, family member, or business partner.

UPI also allows customers to pay or collect money from any bank account using their debit card information. They can pay using their debit card, virtual card, or UPI ID.