The 12th Day of Training and Education the Indian Public about the emerging Cashless Future, under the guidance of Meenakshi Lekhi, an MLA, provided technical information about the coming of a digital age, sans cash. It introduced to the public the concept of UPI, abbreviated for Unified Payment Interface and enlisted the benefits attached to it; the irrelevancy of going to banks or standing in long queues, of carrying around mounds of cash becomes apparent with this App, which will be made available for Android users, on Google Playstore.
The UPI App allows transference of money till 1 Lakh from one Bank to another, making it easier for a customer to pay directly to different merchants, offline as well as online. The National Payment Corporation of India announced this App as operational recently. 19 banks have already nodded in favour of this hassle-free system. Credit card details, IFSC code, retaining netbanking passwords, all would be absent in the UPI system which only required the virtual address, of the person transacting, to be shared.
The App comes in handy and becomes a major chunk of the Cashless future that the nation may very soon have. UPI is structured in a manner that is user-friendly and in its orientation, pushes for digital economic transactions, a relatively new but welcome concept in India.