Unified Payment Interface is a simple bank-to-bank transfer network. Even though the end goal of both is to facilitate payment transfers, UPI is the simpler and hassle-free option of the two.

Did you know that UPI is a payment gateway? Even though the end goal of both is to facilitate payments, UPI is a simpler and hassle-free option. Banks have adopted this technology in order to expand the scope of online transactions and eliminate cash from their systems.

Unified Payment Interface is a simple bank-to-bank transfer network. However, standard payment gateways are much more complex than UPI. It can often be difficult to find out exactly where your money ends up, discouraging users from making online payments altogether. Payment gateway charges also charge extra fees for transfers, whereas UPI allows you to send money at zero cost. The end goal in both cases is the same-to facilitate fast and secure money transfers in an increasingly digital world.

UPI or Unified Payment Interface is different from UPI. UPI is the simpler, hassle-free option with the same objective of facilitating bank-to-bank transfer.

UPI is a simpler and hassle-free option for transferring funds from one bank account to another. It can also be used to transfer funds from a bank account through a third party into your bank account. In addition, it does not require you to have a digital wallet. The other option, payment gateway, is based on Visa and MasterCard networks shaped by the Reserve Bank of India.

UPI linking is a very confusing process and you might want to avoid the hassles of the same. UPI is just a bank-to-bank transfer and it has nothing to do with your eCommerce business directly. A payment gateway, on the other hand, will help you receive money from customers more easily.

UPI is not only a payment gateway but is the simplest of all payment gateways available in India.UPI allows you to transfer the same amount to the same merchant instantly, over multiple transactions per day. Apart from being instant, it can also be done without giving your sensitive financial information online.