UPI
According to the Finance Ministry, affordable payment options will be promoted and UPI transactions won’t be taxed.
Fund transfers via UPI are done in real time. One application can link several bank accounts.
You only need the recipient’s cellphone number, account number, or UPI ID to send money to them..
UPI was created on the IMPS model. This is why you can use the UPI app for banking around-the-clock.
The use of UPI does not need the use of OTP, CVV, card numbers, expiration dates, etc. for online purchases..
Government officials have not discussed adding fees to the UPI service.
The service provider will be reimbursed for its costs in other ways, so far as that is concerned.