Uploaded April 2016 | Updated September 2026, 2 days ago
The Unified Payments Interface (UPI) which was launched by Reserve Bank of India governor Raghuram Rajan today may sound cryptic to most of us. But it is set to change our lives real fast.
Once fully implemented, UPI will let you make payments with ease. Say your yoga instructor wants to get paid. He/ she can simply make a request to your virtual address and you will get an alert. Once you authenticate the transaction, he gets paid. It’s that simple.
The good thing is that it will work across different banks, wallets and services. Soon enough, you won’t have to remember bank accounts and passwords because all you will need is your virtual address.
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The Unified Payments Interface (UPI) which was launched by Reserve Bank of India governor Raghuram Rajan today may sound cryptic to most of us. But it is set to change our lives real fast.
Once fully implemented, UPI will let you make payments with ease. Say your yoga instructor wants to get paid. He/ she can simply make a request to your virtual address and you will get an alert. Once you authenticate the transaction, he gets paid. It’s that simple.
The good thing is that it will work across different banks, wallets and services. Soon enough, you won’t have to remember bank accounts and passwords because all you will need is your virtual address.
Subscribe to our FactorDaily Channel: goo.gl/QOG5xx
Checkout more of Factordaily here:
factordaily.com
facebook.com/factordaily
twitter.com/factordaily
