UPI allows you to transfer money without the bank account.

1

• UPI allows you to transfer money without the bank
  account.

2

• Send money up to Rs 1 lakh to any bank account
  through your mobile without entering debit/credit
  card details, netbanking/wallet password or even
  knowing the receivers account number. This is
  not magic, it is called Unified Payment System.
• Launched by retail payment platform National
  Payments Corporation of India (NPCI) - backed by
  the RBI, the UPI app user need not remember the
  15-digit bank account number or the 11-digit IFSC
  code (used to identify bank branches).

3

• Instead of account details, the receiver can
  merely share a virtual address, which can be your
  name, or your phone number and the sender can
  transfer money. For example, if your name is abc,
  the your virtual address could be abc_at_axisbank or
  abc_at_icicibank if your phone number is
  1234567890, then your virtual address could be
  1234567890_at_axisbank or 1234567890_at_icicibank and
  so on.
• On Thursday, the RBI approved the Unified Payment
  System (UPI), a common platform which links your
  bank account number to a virtual payment address,
  effectively making money transfer as easy as an
  SMS.

4

• From next week, almost 21 banks will be ready
  with the UPI mobile app that will allow to link
  and access multiple bank accounts through a
  single address.
• Built on the IMPS (Immediate Payment Service)
  platform, the transaction limit for Download Upi
  App is set at Rs 1 lakh per transaction and for
  IMPS it is Rs 2 lakh.
• After the RBIs final approval, NPCI had decided
  that only the banks with 1000 pilot customers,
  5000 transactions and success rate of around 80
  would be permitted to go live.

5

• List of Banks going live with Download Upi App
• Andhra Bank, Axis Bank, Bank of Maharashtra,
  Bhartiya Mahila Bank, Canara Bank, Catholic
  Syrian Bank, DCB Bank, Federal Bank, ICICI Bank,
  TJSB Sahakari Bank, Oriental Bank of Commerce,
  Karnataka Bank, UCO Bank, Union Bank of India,
  United Bank of India, Punjab National Bank, South
  Indian Bank, Vijaya Bank and Yes Bank.
• IDBI Bank and RBL Bank are on-boarded as
  issuers. It enables their customers to download
  any UPI enabled Apps mentioned above and link
  their account.
• Source http//bit.ly/2nXgxsJ

6
Follow Us On
https//www.facebook.com/axisbank
https//plus.google.com/axisbank
http//twitter.com/axisbank
https//www.youtube.com/axisbank
https//www.instagram.com/axis_bank/
https//www.linkedin.com/company-beta/162609?pathW
ildcard162609
7
Click to know more onDownload Upi App

• https//play.google.com/store/apps/details?idcom.
  upi.axispay