Published Nov 29, 2022
2 mins read
413 words
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Economics
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Importance Of The Upi Payments

Published Nov 29, 2022
2 mins read
413 words

Hello readers thanks for who are reading and supporting the my blogs in this  blog  please check previous part of the this blog before reading this blog. In the blog i tells you the uses of the Upi payments and 

There are many reasons why the UPI system has become so popular.. Anyone using a smartphone can use the it regardless of education. UPI payments can be made if the bank account and the phone number are linked to it. This enables real-time money transfer...that is, up to one lakh rupees per day can be directly transferred from the one account to another in just a few seconds. 

The main uses of the Upi payments. Lets us see.

  1. There is no other way to do it is  faster, easier and safer. 
  2. There is no possibility of the postponing payments due to lack of the cash in hand or any other reason. No need to go to ATM. It works 24 hours and 365 days. 
  3. Can work with any number of the bank accounts. It does not the ask for any additional details like the card number, the account number, IFSC code etc. 
  4. All types of the bills can be settled. 
  5. The Bills can be shared. When the four friends go to the a hotel together, the bill can be shared equally by the four rather than burdened by one person. the rest If the other three transfer their share of money to the friend's account through UPI then he will pay the hotel. It will all be over in a minute. While putting on the slippers to see if there is enough cash in the pocket.
  6. Don't want to waste the time.
  7. There are no additional charges (the merchant discount rate) for merchants as per credit and debit cards. 
  8. Not related to the credit history of the consumer. 
  9. This is seen as a way to the reduce corruption as all the transactions are recorded. 
  10. The UPI has occupied 96 percent share of the digital payments due to these benefits With that, the shopkeepers stopped hearing in the tills and the clinking of notes being counted by the customers. Having a heavy pocket on a date is a thing of the past. It is the enough to have a phone in hand, with a purse Lack of work is today's trend. 
  11. It is also helps the our environment friendly with it reduces the paper currency and saves the trees that's why environment friendly.
UPI Payment
Digital payments
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cat.cat.dog.dog 12/1/22, 5:30 AM
6
Nice
6
teja.s 12/1/22, 5:33 AM
5
Informational
5
bgmi.gamer 12/1/22, 5:35 AM
3
Nice information
3
pubg.bgmi 12/1/22, 5:36 AM
2
Good information
2
gaming.striker 12/1/22, 5:39 AM
1
Informational
1
sai.teja04 12/1/22, 5:41 AM
Nice explaintion
c___ristian___0 1/13/23, 4:55 AM
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