Which interface has been launched by National Payments Corporation of India (NPCI) for next-generation mobile banking?

Which interface has been launched by National Payments Corporation of India (NPCI) for next-generation mobile banking?
[A]Unique Payments Interface
[B]Unified Payments Interface
[C]Universal Payments Interface
[D]Unicellular Payments Interface

Unified Payments Interface
The National Payments Corporation of India (NPCI) has launched “Unified Payments Interface (UPI)”, which will leverage trends such as increasing smart phone adoption and deeper penetration of mobile data. The UPI is a new payment method that powers multiple bank accounts into a single mobile application (of any bank) of a participating bank,merging several banking features, seamless fund routing and merchant payments into one hood. It facilitates ‘virtual address’ as a payment identifier for sending and collecting money and works on single click 2 factor authentication. It also provides an option for scheduling push and pull transactions for various purposes like sharing bills among peers.

Advertisement

This question "Which interface has been launched by National Payments Corporation of India (NPCI) for next-generation mobile banking?" was published on GKToday on April 14, 2016 at 10:49 am. For Current Affairs Questions Archive Click Here. For General Knowledge Questions Archive Click Here.

Comments