what are the benefits of UPI to the user?

 UPI is a unified payment interface that help user to transfer funds from one UPI ID to the another UPI ID or bank account. It is a real time payment system. User can link there multiple bank account with single UPI ID provided the mobile number must be link to the bank account and must be credit card. Because while creating the UPI ID needed 6 digit of ATM card to link with the bank without taking account number and IFSC code. 

Here Some of the benefits of the UPI transaction. 

There is category Wise Benefits of Unified Payment Interface UPI. 

1.Benefits of UPI to the Merchant

2.Benefits of UPI to the Bank.

3. Benefits of consumer for customer. 

Benefits of UPI to the Merchant 

• It is suitable  for e commerce and Mobile Commerce. 
• UPI resolve the problem of cash on delivery. 
• It is easy to collect fund. 
• There is no risk to store the virtual address of customer. 
• There is no need credit and debit card.
• Payment facility in single app. 

Benefits of UPI to  Bank

• UPI is more safer and secure to payment. 
• There is single click two factor authentication. 
• There is universal application for one transaction.
• UPI Enables easy transactions 
• Unique  identifier 

Benefits of UPI for Customers

• There is 24*7 availability. 
• User can easily raise a  complaint from the mobile app directly. 
• Single application for accessing multiple  bank accounts. 
• Use of virtual ID is very secure.
• Remove the payment on hand cash.  

UPI has removed various problems of bank, merchant and customer. It has provide the interface which can be used by the person who has bank account, linked mobile number, electronic card and