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Unified Payments Interface, commonly referred to as UPI, is an Indian instant payment system as well as protocol developed by the National Payments Corporation of India (NPCI) in 2016. The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions. [1] [2] It is used on mobile devices to instantly transfer funds between two bank accounts. The mobile number of ...
RuPay ( portmanteau of Rup ee and Pay ment) is an Indian multinational financial services and payment service system, conceived and launched by the National Payments Corporation of India (NPCI) in 2012. [1] [2] [3] It was created to fulfil the Reserve Bank of India 's (RBI) vision of establishing a domestic, open and multilateral system of payments. RuPay facilitates electronic payment at all ...
BHIM ( Bharat Interface for Money) is an Indian mobile payment app developed by the National Payments Corporation of India (NPCI), based on the Unified Payments Interface (UPI). Launched on 30 December 2016, [1] it is intended to facilitate e-payments directly through banks and encourage cashless transactions. [2] [3]
Its net settlement systems include the Electronic Clearing Services (ECS Credit), Electronic Clearing Services (ECS Debit), credit cards, debit cards, the National Electronic Fund Transfer (NEFT) system, Immediate Payment Service, and Unified Payments Interface (UPI).
National Common Mobility Card ( NCMC) is an inter-operable transport card conceived by the Ministry of Housing and Urban Affairs of the Government of India. It was launched on 4 March 2019. The transport card enables the user to pay for travel, toll duties (toll tax), retail shopping and withdraw money.
In March, PhonePe became the first digital payments platform to cross 1 billion monthly transactions on UPI, clocking almost 1.3 billion transactions across all of its payment offerings, including third-party debit and credit cards and its own digital wallet.
Immediate Payment Service ( IMPS) is an instant payment inter-bank electronic funds transfer system in India. IMPS offers an inter-bank electronic fund transfer service through mobile phones.
ICICI Bank Limited is an Indian multinational bank and financial services company headquartered in Mumbai with a registered office in Vadodara. It offers a wide range of banking and financial services for corporate and retail customers through various delivery channels and specialized subsidiaries in the areas of investment banking, life, non-life insurance, venture capital and asset management .