nified Payments Interface (UPI) is a real-time payment system developed by National Payments Corporation of India (NPCI) facilitating inter-bank transactions through a mobile platform. UPI is regulated by the RBI and transfers funds between two bank accounts instantly. UPI powers multiple bank accounts into a single mobile application. UPI is built over Immediate Payment Service (IMPS) for transferring funds. UPI uses Virtual Payment Address (a unique ID provided by the bank), Account Number with IFS Code, Mobile Number with MMID (Mobile Money Identifier), Aadhaar Number, or a one-time use Virtual ID for facilitating the transaction.