The Working of UPI Payment Decoded | One Byte At a Time Ep #4 | Unified Payment Interface | SCALER

Описание: One Byte at a Time is a series in which we decode the logic behind tech that you use on a daily basis. In this episode, we discuss how UPI works and how it has revolutionised payment methods. Check out our FREE masterclasses by leading industry experts now: https://www.scaler.com/events?utm_sou...

What is UPI?
UPI or unified payments interface is a real-time, single-window payment programme developed by the National Payments Corporation of India. In layman’s terms, UPI is a payment interface that allows you to transfer payments in real-time from one bank account to another. UPI enables you to transfer cash safely, discreetly, and efficiently without disclosing any bank-specific information.
UPI is gradually becoming the most popular method of digital payment. Its interface is interoperable with the vast majority of banks and digital wallets. Google Pay, Paytm, and PhonePe, are a few of the most popular UPI payment apps.

The primary goal of the UPI launch was to create a cashless economy. And it has since dramatically altered the way we pay bills, shop, and send money to family members.
But how has UPI made payments so simple? What is the mechanism behind it?

Most importantly, is it truly as safe as it claims to be?

Learn more in this episode of One Byte at a Time.

Topics covered:
0:00 - Introduction
1:24 - What is UPI?
1:49 - How does UPI work?
3:31 - Transaction flow in UPI
4:15 - Architecture of UPI
6:00 - Payment apps integration with UPI

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