This document provides an overview of the Unified Payments Interface (UPI) system in India. UPI allows users to instantly transfer money between bank accounts using only a smartphone. It was developed by the National Payments Corporation of India to facilitate inter-bank transactions. Key features include not needing the recipient's bank details, being able to link multiple accounts to a single app, real-time payments, and increased convenience for bill splitting and purchases. Advantages include low fees, ease of use, and availability 24/7 from any account, while disadvantages include transaction limits, internet dependence, and potential delays.

1. UBJECT- BANKING AND FINANCE
CLASS – S.Y.BBA
RESENTED BY :- 1.ABHISHEK AHIRE
2. OM AHER
3.PRATIK SANGALE
4.TUSHAR GANGURDE
TOPIC – UPI
PAYMENT

2. WHAT IS UPI ?
• IT IS A COMMON PLATFORM THROUGH WHICH A PERSON CAN TRANSFER THE
MONEY FROM HIS BANK TO ANY OTHER BANK ACCOUNT IN COUNTRY
INSTANTLY.
• INDIGENOUS PAYMENT SYSTEM VIA SMARTPHONE.
• DEVELOPMENT BY THE NATIONAL PAYMENT CORPORATION OF INDIA (NPCI)
UNDER THE GUIDELINES OF RBI.
• IT IS BASED ON THE IMMEDIATE PAYMENT SERVICE (IMPS) PLATFORM.

3. HOW WILL IT WORK ?
• NO NEED TO KNOW THE PAYEE’S IFSC CODE, BANK ACCOUNT DETAILS , ETC.
• ACCOUNT MAPPING TO BE DONE BY CUSTOMER ON BANK.HENCE ONE CAN
FREELY SHARE THE FINANCIAL ADDRESS WITH OTHERS.
• A PERSON CAN HAVE MULTIPLE VIRTUAL ADDRESS FOR MULTIPLE ACCOUNT IN
VARIOUS BANK.
• IT WILL MAKE THE PROCESS SIMPLER.

4. ADVANTAGES AND DISADVANTAGES
ADVANTAGES
• MINIMUM CHARGES AND INSTANT
PAY.
• NO NEED TO FILL DETAILS.
• NO NEED FOR REGISTRATION AND
ALWAYS AVAILABLE.
• USEFUL FOR SMALL PURCHASES.
• ONE APP , MANY ACCOUNTS.
DISADVANTAGES
• TRANSACTION LIMIT.
• REQUIREMENT OF INTERNET AND
SMARTPHONE.
• DIFFICULT TO CONVINCE THE
CUSTOMERS.
• SOMETIMES THERE CAN BE DELAYS IN
PAYMENT.

5. HOW UPI IS UNIQUE ?
• IMMEDIATE MONEY TRANSFER THROUGH MOBILE DEVICE AROUND 24*7 AND
365.
• SINGLE MOBILE APPLICATION FOR ACCESSING DIFFERENT BANK ACCOUNTS.
• BILL SHARING WITH FRIENDS.
• SAFE AND SECURE.
• SEND AND RECEIVE MONEY INSTANTLY.

6. THANK YOU