UPI presentation .pdf

BCE

1. Unified Payments Interface

2. What is UPI?
●Unified Payments Interface, or UPI, as we like to call it, is a
real-time payment system developed by NPCI, launched in
2016.
●It allows instant money transfers between bank accounts via
mobile devices using a UPI ID or mobile number.
●It Instantly transfers money 24/7, including weekends and
holidays.
●It Works through Virtual Payment Addresses (VPAs), eliminating
the need for bank details.
●It Offers Quick Transactions and no transaction fees!
Every single of us uses UPI!

3. India Before UPI
●Online transfers required account numbers, IFSC
codes, and were limited to bank hours.
●Some transactions took hours or days to process,
causing delays.
●India was very cash-dependent, especially in
rural areas with limited digital payments.
●Many people were unbanked, with low digital
literacy and access to payment systems.
●Card and online transactions had fees, people
had to pay short fees to make even small
payments.

4. Why UPI?
●UPI was designed to make digital payments seamless and instant,
removing the complexities of traditional online banking.
●UPI aimed to reduce India’s reliance on cash and promote a digital
economy.
●UPI was created to provide a common platform where users could transfer
money across different banks without needing to know bank details.
●UPI was designed for 24/7 real-time money
transfers, overcoming the delays of
traditional systems like NEFT and RTGS,
which operated only during bank hours.

5. How UPI grew
UPI transactions were just at 1 lakh
crore in 2017. They went above 125
lakh crore in just 5 years!
In the year 2022-23, more than
₹5800 Crore worth of transactions
took place through BHIM UPI.

6. How UPI grew
How did UPI grow so suddenly and rapidly?

●The 2016 demonetization campaign led to a surge in digital transactions,
driving people to adopt UPI as a cashless alternative.
●UPI gained traction among merchants, from large retailers to small businesses,
enhancing its usability in everyday transactions.


●Integration with popular mobile payment apps like Google
Pay, PhonePe, and Paytm made UPI accessible and easy to
use for consumers.
●The increase in smartphone usage and internet
connectivity enabled more users to access UPI services.
●Strong security measures, including two-factor
authentication, built user trust in the system.
●Continuous updates, including features like UPI AutoPay,
UPI Lite, and linking credit cards, kept the platform relevant
and user-friendly.

7. Plus points of UPI
Why is UPI so good?

●UPI has a simple design which means easier navigation for everyone.
●UPI can perform instant money transfers available 24/7 without delays.
●Uses a UPI ID or mobile number instead of complex account info.
●Users can ink and manage several bank accounts in one app.
●Users can make payments anytime, anywhere, directly from their
smartphone.



●UPI enables users without
formal banking access to
engage in digital
transactions.

8. Evolution of UPI
Security Features

●Requires a Mobile PIN (MPIN) in
addition to the UPI ID for added
security.
●Instant notifications for every
transaction to detect
unauthorized activities.
●Allows transactions without
exposing bank account
numbers.
●Automatic logout after
inactivity to reduce
unauthorized access.
Innovations in UPI

●AutoPay:Automatic recurring
payments for bills.

●UPI Lite: Offline transactions
for small payments.
●Credit cards can be linked in
UPI for seamless and easier
payments.
●UPI now can facilitate
payments using voice
commands.

9. Future of UPI
●UPI has facilitated cross-border payments for international transactions
in some countries.
●Offline transactions will be possible, enabling payments without internet.
●Utilizing AI to analyze transactional data for better fraud prevention.
●Collaborations with global
payment platforms to
increase functionality.
●Campaigns to include
unbanked populations in
digital payments.
●Complying with changing
regulations to maintain
trust.

10. Arthaay Sawant
Harsh Rane
Siddhant Shah
Mandar Patil
Runali Pawar
Nandini Yeligeti
Thank you!