Unified Payments Interface (UPI) Ecosystem

iAbout This Scheme

UPI, developed by NPCI and launched in 2016, is India's real-time payment system enabling instant inter-bank transfers through mobile phones using Virtual Payment Addresses (VPA). It processes 12+ billion transactions monthly. The government has backed UPI with infrastructure support, merchant discount rate (MDR) waivers, and incentive schemes for small merchants.

🎁Key Benefits

• Instant 24x7 bank-to-bank transfer via mobile
• 12+ billion transactions per month (FY 2024-25)
• Zero MDR for small merchants on transactions up to ₹2,000
• Government incentive scheme for UPI MDR reimbursement to banks
• Interoperable across all banks and payment apps
• UPI Lite for small transactions without internet (NFC-based)

✅Eligibility Criteria

• 1
  Any Indian with a bank account linked to mobile number
• 2
  Merchants eligible for MDR waivers

📝How to Apply

❓Frequently Asked Questions