What is UPI? How India pays instantly from phone to phone
By SendPay Business · · 2 min read
UPI (Unified Payments Interface) is India's system for instant bank-to-bank payments by phone. It was launched in 2016 by the National Payments Corporation of India (NPCI) and has become one of the busiest payment systems in the world.
How it works
- Link a bank account to a UPI app such as PhonePe, Google Pay or Paytm.
- Get a UPI ID, which looks like name@bank, or show a QR code.
- Pay by entering an ID, scanning a QR code or picking a contact, then confirm with a PIN.
- The money moves between bank accounts in seconds, day or night.
Why it took off
UPI works across banks and apps, is free for most everyday payments, and lets small shops take payments with just a printed QR code. Since 2023 it has handled more than 10 billion payments a month.
UPI beyond India
India has linked UPI with some other countries' fast payment systems, such as Singapore's PayNow in 2023, so people can send money across the border quickly.
Where SendPay fits
SendPay platforms include accounts, transfers and payment links under your own brand, powered by licensed partners. You can preview your platform before you pay.
Build it
Create your own financial platform.
Pick a template, name it, brand it, preview every page before you pay. Your brand, your users, your fees.
Build my platform →Questions people ask
Could bank payments cost less than cards?
Compare card fees with pay by bank.
Pay by bank savings calculator →Read next
This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. PayPal, Patreon and Substack are named as reference points only and are not affiliated with SendPay Business.