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This is a list of applications supporting the Unified Payments Interface (UPI), an Indian instant payment system as well as protocol developed by the National Payments Corporation of India (NPCI) in 2016. The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions. [1]
Unified Payments Interface (UPI) is an Indian instant payment system as well as protocol developed by the National Payments Corporation of India (NPCI) in 2016. The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions.
A National Provider Identifier (NPI) is a unique 10-digit identification number issued to health care providers in the United States by the Centers for Medicare and Medicaid Services (CMS).
This code is provided on the cheque books, which is required for transactions along with recipient's account number. RTGS is a large value funds transfer system (with a minimum transaction value of ₹ 200,000 (US$2,300)) where financial intermediaries can settle interbank transfers for their own account as well as for their customers.
BHIM (Bharat Interface for Money) is an Indian state-owned mobile payment app developed by the National Payments Corporation of India (NPCI), based on the Unified Payments Interface (UPI). Launched on 30 December 2016, [ 1 ] it is intended to facilitate e-payments directly through banks and encourage cashless transactions.
Sponsor banks are allowed to originate transactions the system required, they have a mutual agreement with NPCI and also are members of any payment system approved by the Reserve Bank of India. Destination banks are allowed to do transaction, process mandates and update the Aadhaar mapper through the use of the system.
National Payments Corporation of India (NPCI) is an Indian public sector company that operates retail payments and settlement systems in India. The organization is an initiative of the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust payment and settlement infrastructure in India.
Bijlipay became the first Indian Point-of-Sale (PoS) devices-providing company to use BharatQR on the screen of PoS machines. [7]ItzCash announced rolling-out Bharat QR code features across its retail network to scan and pay money with ItzCash's Point-of-Sale devices by presenting a cell phone to a reader, across its network of 75,000 outlets in 3,000 cities and towns across the India.