UPI Payment is the advanced version of the old-school payment methods of IMPS and NEFT. Through UPI Payment, the account holders can transfer a certain amount from one bank account to another without additional charges. To transact through the Paymoney UPI payment application, every individual needs to set up a UPI account and a UPI PIN that is the password for confirming the transaction. To transact through Paymoney, you can simply select the receiver’s contact from your phone book or enter the receiver’s contact number to send money via UPI.
The UPI payment method has turned out to be useful for many because of the following reasons-
To transfer money through UPI, the user does not need to enter any specific details of the receiver. In Paymoney UPI payment application, you can simply select the receiver’s contact from your phone book or enter the receiver’s contact number to send money via UPI
Unlike other payment methods, UPI money transfers do not require much hassle and can be completed within a few seconds
UPI Payment facility allows individuals to request money from some other individual, which is not an option with any other payment method
Almost every bank allows UPI transactions through mobile applications
UPI transactions on Paymoney is absolutely free of cost