Upi

UPI commonly refers to the Unified Payments Interface, a real-time payment system in India developed by the National Payments Corporation of India (NPCI) and launched in 2016. It enables instant inter-bank transactions 24/7 using a single mobile application. UPI interoperates across banks, allowing users to link multiple bank accounts and transact using a virtual payment address (VPA) rather than sharing bank details. Transactions may be initiated P2P or P2M (from bank to merchant).

How it works: A user creates a UPI ID (for example name@upi) and sets a UPI PIN for verification. Payments are authenticated by the user’s PIN and the system processes the transfer in real time via the Immediate Payment Service (IMPS) rails, managed by NPCI. UPI supports person-to-person transfers, merchant payments by QR code or virtual ID, as well as recurring or bill payments; many banks and apps participate, including BHIM, PhonePe, Google Pay, and Paytm. Security measures include device binding, two-factor authentication, and ongoing risk monitoring; users should guard against phishing and social engineering.

Governance and impact: UPI is overseen by the Reserve Bank of India and NPCI and has driven substantial growth in digital payments in India, contributing to a shift from cash to electronic transfers; the platform is continuously expanded with new features such as tokenized payments and enhanced merchant acceptance.

UPI also refers to United Press International, a U.S.-based news agency founded in 1907 as United Press. In 1958, it merged with the International News Service to form United Press International. UPI has historically supplied news and photographs to newspapers and broadcasters and today operates a digital news operation with contributions from staff and licensed content.