UPI stands for Unified Payments Interface. It is a single-window online payment system introduced by the NPCI (National Payments Corporation of India). UPI facilitates money transfers between different banks via a single payment platform, such as the Airtel Payment Bank UPI.
You can pay utility bills, make FASTag recharge, recharge your mobile, and send money to your friends and family seamlessly. This means that you can send and receive money and authorize payments through your Airtel UPI ID. Airtel UPI gives you an easy-to-understand interface that simplifies cashless transactions online.
Let us go into detail about UPI. We’ll also help you understand how does UPI work, and how safe is it for making payments.
How Does UPI Work?
To begin with online payments, you need to have an Airtel UPI ID. To get this, you will have to download the Airtel Thanks app. The UPI ID is linked to your phone number and bank account. If you’re a merchant, the process for signing up on UPI is the same.
To initiate an online transaction, you need to look up another user to whom you want to transfer money. You can do that by entering their mobile number or UPI ID. Once the details are in, you can fill in the amount and proceed with the transaction via Airtel Payment Bank UPI ID.
Types of Airtel UPI Payment:
- Intent Payment
The payer initiates the transaction by entering the amount and sending it via the Airtel Thanks UPI app. For example, you transfer funds to your friend or make a payment with a merchant by scanning the QR code.
- Collect Payment
The payee receives the online transaction made by the payer. For example, your friend sends you the money on UPI to settle a split amount.
How to Start Using the Airtel UPI App for Payments?
Mentioned below is a step-by-step process to create your UPI ID Airtel Payment Bank and make an online money transfer.
Download the Airtel UPI payment app, Airtel Thanks, available on your Play Store or App Store.
Open the Airtel Thanks UPI app and enter the mobile number linked to your bank account.
Allow the necessary permissions and verify your OTP and, tap on ‘Next’.
Set your Airtel UPI code or pin and select ‘Add Bank Account’. Then proceed to click on your bank from the list.
Fill in your UPI pin to receive your UPI ID.
Enter the amount you want to transfer to proceed with the payment.
What is Airtel UPI and how safe is it?
Airtel Payment Bank UPI eliminates the need to make payments in cash. It is a safe platform to carry out digital transactions without sharing any credentials. Mentioned below are the safety features available on a UPI payment app:
UPI apps have a verification process put in place to ensure the complete security of your payments. At the time of registration, you will complete a mobile number verification. This number will get linked to your UPI account, making it a form of identification. When you change your phone number, you will have to begin the verification process again. In case you lose your phone, you can block the number and help prevent anyone from using your identity to make payments.
- Safe Transactions
A UPI app has a simple two-factor authentication process, and only you can access your account. You will have to set up a four-to-six-digit pin called MPIN (Mobile banking Personal Identification Number). To initiate an online money transfer, you can type in the MPIN to authenticate your identity.
UPI has a distinct feature that allows you to verify merchants. That way, you can prevent anyone from making fraudulent online payments. A Quick Response (QR) code is used to authenticate whether a merchant is UPI-verified or not. This concludes that UPI is indeed a secure way to make digital transactions.
UPI is changing the way digital payments are made in the country. Start your cashless journey today. Choose the Airtel Thanks UPI app and start making payments online.