UPI (Unified Payments Interface) application is a payment system that allows one to transfer money between any two parties. UPI Application allows customer to instantly transfer money to someone else using, without having to know their bank account number or IFSC code. UPI makes payments possible only by providing an address with others without having ever provided account details or credentials on 3rd party applications or websites. This leads to a significantly smoother payment experience. Some examples of these include in-app payments – where the merchant app, may send the request to the PSP app on the same device, instead of a collect request via the PSP network. Another example may be for proximity payments, where the payer and payee are using different devices, but are close enough for the information to be transferred locally. The UPI is a cost effective, secure, reliable, mobile-first, interoperable, open-source, instantaneous settlement and both pull and push platform. Moreover, while pre-paid wallets can’t do more than Rs.10,000 worth of transactions without KYC (know your customer) norms in a given month, a UPI-enabled platform bank account can transfer up to Rs.1 lakh instantaneously.