All about Unified Payment Interface (UPI) is here

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What is UPI?

"Unified Payment Interface" (UPI) enables all bank account holders to send and receive money from their smartphones without the need to enter bank account information or net banking userid/ password.

Where can UPI be used?

UPI can be used to send and receive money from individuals or to pay directly to merchants.

How can I use UPI?

Users can instantly download a UPI app such as iMobile (for ICICI Bank customer) and Pockets (for ICICI/ non-ICICI Bank customers) and create their own Virtual Payment Address (VPA) such as xyz@pockets or xyz@icici to start using UPI.

What is a Virtual Payment Address (VPA)?

For using UPI, users need to create a Virtual Payment Address (VPA) of their choice and link it to any bank account. The VPA acts as their financial address and users need not remember beneficiary account number, IFSC codes or net banking user id/password for sending or receiving money.

What is a Virtual Payment Address (VPA)?

For using UPI, users need to create a Virtual Payment Address (VPA) of their choice and link it to any bank account. The VPA acts as their financial address and users need not remember beneficiary account number, IFSC codes or net banking user id/password for sending or receiving money.

What is the advantage of UPI Funds transfer over other fund transfer mechanisms?

The service is instant and available 24X7, even on public/bank holidays. Customers can transfer funds in simple steps by providing the virtual payment address of the beneficiary. Also, there is no pre - registration required for the beneficiary.

What is a Virtual Payment Address (VPA)?

"Virtual Payment Address" is an identifier (that takes a form of abc@xyzbank wherein "abc" is a unique name that you can choose for yourself) that can be uniquely mapped to an individual account using a translation service.

How can I transfer money using a VPA?

Enter the details of the beneficiary VPA, amount and remarks. If you have multiple accounts/virtual payment addresses, you can choose the VPA you would like to debit. Click on Submit


Is the beneficiary also required to register for UPI?

Yes, the beneficiary needs to download a PSP app and register for a VPA. They need to communicate this VPA to you to initiate a transaction.

What details do I need to either send money or request money?

You need the VPA of the beneficiary or the remitter. You don’t need any other details to initiate a transaction.


Is there a limit on the value of transactions when I am sending or requesting money using UPI?

Currently, the per-transaction cap is INR 100,000. This may change from time to time and is subject to the UPI guidelines.


What are the timings for initiating and receiving UPI transactions?

UPI services are available 24 hours of the day, all days of the week, throughout the year. There are no holiday restrictions on UPI transactions.