UPI stands for Unified Payments Interface. It is a payment mode developed by the National Payments Corporation of India. UPI is a payment system that allows you to transfer money between any two parties. As compared to NEFT, RTGS, and IMPS, UPI is far more well-defined and standardized across banks. This means that you can use UPI to initiate a bank transfer from anywhere in just a few clicks! The benefit of using UPI is that it allows you to pay directly from your bank account. The hassle or need to type in the card or bank details goes away with UPI. You can use UPI to transfer money to your family, friends, or even between your own bank accounts. The much wider use of UPI comes when you have to pay different merchants. mPIN in UPI Another benefit of using UPI is that you can do away with the need to wait for an OTP and enter it to complete the money transfer. The mPIN is a 6-digit passcode that you must enter every time you need to make a transaction. The mPIN is highly val...
Article Duration: 15 min Now you can listen to this article via Spotify click on the player below: Imagine a new type of internet that not only accurately interprets what you input, but actually understands everything you convey, whether through text, voice, or other media, one where all content you consume is more tailored to you than ever before. We are at the tipping point of a new phase in the web’s evolution. Some early pioneers call it Web 3.0. Arguably, there are a few early-stage Web 3.0 applications that already exist today, but until the new internet becomes fully embedded in the web infrastructure, their true potential cannot be observed. Definition: What Is Web 3.0? Web 3.0 is the upcoming third generation of the internet where websites and apps will be able to process information in a smart human-like way through technologies like machine learning (ML), Big Data, decentralized ledger technology (DLT), etc. Web 3.0 was originally called the Semantic Web by World Wide Web in...