National Payments Corporation of India (NPCI), along with Reserve Bank of India (RBI), launched Unified Payments Interface (UPI) 2.0. This updated version comes after NPCI’s BHIM received a good response.
Several banks including State Bank of India (SBI), HDFC, Axis, ICICI, IDBI, RBL, Yes Bank, Kotak Mahindra, Indusland, Federal Bank, and HSBC have joined hands with the new version of UPI.
With UPI 2.0, one can link their overdraft account and a digital channel will be available for the same. Once the overdraft account is linked with the UPI, the monetary transactions will be fast and easy.
In this new version, a feature has been added but only for the verified merchants. This feature states that if you make a payment through UPI 2.0, it will generate a link which will have the invoice copy of the payment. The invoice would be helpful for the customers to verify the details related to the payment made.
RBI Governor Urjit Patel along with Chairman of SBI Rajneesh Kumar and Non-Executive Chairman of Infosys Nandan Nilekani launched UPI 2.0 on Thursday.
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