UPI apps making it easy to pay online with just a few simple steps

UPI ID short for Unified Payments Interface Identification, is an amazing technological interface that has taken the financial world by storm. Online payments can be made in an easy and simple way. The UPI payment offers matchless convenience to customers in completing their shopping and money transfer needs without the need to part with their debit card or net banking details. There are a ton of benefits of having a UPI id on your smartphone, the biggest of them being your favourability in getting a personal loan sanctioned from reputed financial lenders. Bank payments can be directly made through your UPI id along with QR scanning.

Why UPI IDs are getting popular?

The modern consumerist society is increasing its convenience by making online payments using UPI id the and what's more, is that the retail websites are offering UPI payment offers that increase the attractive quotient of these security banking digital payments. UPI apps record the transaction history and enhance the creditworthiness of the user. This, in turn, helps to secure a personal loan with attractive tenures and interest rates.

The UPI app can be used to send and request for money, conduct transactions, improve the individual's credit profile, and make sure that the health of your bank account is in safe hands.

Below are a few simple steps that you can use to make online payments using UPI id:

Step 1 Log onto Google play and download the latest version of your preferred UPI id provider.

Step 2 Make the choice of your preferred language, and the same will be saved for future purposes.

Step 3 Select the appropriate mobile network SIM card that has been respectively registered with your savings bank account.

Step 4 The application password should be entered in the mobile UPI id app

Step 5 All bank accounts can be linked to under the tab bank account option

Step 6 authenticate the last six digits of your savings bank account debit card

Step 7 The expiry date on the debit card should be validated in successfully setting your PIN number

Step 8 Click the send button and enter the newly generated UPI id the and the same can also be done using the scan and pay option related to quick response or QR code.

Step 9 Transaction authentications can be successfully completed by entering the right UPI pin number through which you can send money to your contact.

Step 10 The success factor of the transaction can be checked by clicking the transaction status tab.

The UPI ID is an amazing payment solution that can be used by individuals who do not have access to the internet. The UPI payment offers to ensure that the individuals are in receipt of cash backs and attractive discount offers at retail establishments.

Enhance creditworthiness

Instant personal loans are getting very competitive due to an increased demand for credit. The consumer’s transactions add to the individual's credit profile and help them achieve a high credit score. Reputed lenders such as LazyPay analyse your previous payment history along with the quantum of retail transactions in order to determine your eligibility for a personal loan.

Money transfer is made easy via UPI ID

Virtual payment address (VPA) is a high-security mechanism embedded in the UPI id, which enables the UPI app user to send money to anyone using their account number, QR code and IFSC code. Send money instantaneously using the efficient technology of UPI apps.

 Maximum limit on money transfer

Regulatory authorities have fixed the upper ceiling as Rs one lakh for every UPI id transaction applicable to a single account within 24 hours. This upper limit may vary depending upon the relationship of the user with the corresponding financial lender/bank.

UPI ID money transfer is gaining traction across various verticals in the Indian economy. Seamless integration with social media websites such as Whatsapp and email has ensured its increasing popularity. The complaints emanating from various UPI transactions are very low compared to the overall successful transactions. Money transfer transactions can now be carried out within the comfort of your home.

Download the LazyPay app, get your credit limit and enjoy making those purchases like you never have !!!