Just before year , when it comes to transfer money to friends or general money transfer through bank was little confusing and complicated procedure. NPCI introduced UPI (Unified Payments Interface) and all complexities are fixed. Previously , you need IFSC, Account Number , MMID (for IMPS). Some banks even had 8 am to 8 pm time limit. Now we have no restriction in terms of time limit . UPI is 24 * 7 method. You can transfer Rs 1 Lac in one transaction. You can directly transfer money to user’s mobile number or on UPI id. UPI id is customisable and user can decide his/her own id according to availability e.g. (rohitgund@axisbank).

There are so many apps out there but PhonePe by flipkart  and Tez by google are trending. PhonePe provides various options like recharge, utility bill payments. PhonePe comes with wallet too with monthly 20,000 limit . Tez is simple money transfer app but in  ‘google for India’ google  announced utility payments addition in coming months.

If your primary goal is just money transfer you can use AXIS PAY app. Which is simple and fast . You don’t need to be AXIS BANK customer for it , anyone can use it. You can link all your bank accounts in 1 simple app and manage concurrently . Suppose I have bank accounts with axis , icici, sbi . So for each account separate upi id is there eg axis(rohitgund@axisbank), icici(rohitgund88@icici) so within same app I can transfer money from icici to axis or vice versa.

If you got any questions related to UPI do post in comment section , we are happy to help.