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...
Top NEWS of the Week 19th July to 25 July 1. Snapchat reaches 293 mn daily users: Snapchat has announced that it now has 293 million daily active users in the second quarter this year, an increase of 55 million year-over-year. Snap, the parent company of Snapchat, said that its revenue increased 116 percent to $982 million in Q2 2021 compared to the prior year. The company said... 2. LG adds mic, speakers, to face mask for smooth conversations: Tired of wearing a face mask that hinders your conversation, fogs up eyeglasses, and restricts airflow? LG Electronics has unveiled a high-tech, air-purifying face mask with a built-in mic and speaker that gently amplifies your voice while keeping proper airflow. Named LG PuriCare Wearable Air Purifier, the face mask delivers... 3. Microsoft in talks with Telangana for setting up $2 Bn data center: Global tech giant Microsoft Is in discussions with the Telangana government on a proposal for setting up one of its largest data centers with an...