Unified Payment Interface to replace Plastic cards very soon in India


The National Payments Corporation of India (NPCI) and software product think tank I- Spirt are ready for the technical launch of a new Unified Payment Interface, that would allow people to people or P2P transactions from any bank account to another, using just a mobile phone app.The system would allow mobile to mobile payments without any bank accounts. In this way, the payments through an Aadhaar number or a virtual address can be made if people feel hesitate from sharing their bank account details. Very soon, carrying multiple plastic cards may be unnecessary when you go shopping as your mobile phone only itself can make you eligible to shop and transact.

Read More At The Hindu

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