Unified Payments Interface is a real time inter Bank payment system that allows sending or requesting money. Any UPI based app may be used and multiple bank accounts may be linked to a single app. Money can be sent or requested with the following methods:

• Virtual Payment Address (VPA) or UPI ID: Send or request money from/to bank account mapped using VPA.
• Mobile number: Send or request money from/to the bank account mapped using mobile number.
• Account number & IFSC- Send money to the bank account.
• QR code: Send money by QR code which has enclosed VPA, Account number and IFSC or Mobile number.

• Instant transfer of funds through Unified Payment Interface(UPI) which is faster than NEFT.
• One can use UPI 24 hours and on all public holidays.
• Single mobile application for accessing multiple bank accounts.
• Uses Virtual Payment Address which is a unique ID as given by the bank.

This interface is based on the 2 Factor Authentication with a seamless single click payment. 2 Factor Authentication is quite similar to OTP. Here, MPIN will be used instead of OTP.

• Customer needs to be registered their mobile number in the account
• Post successful registration customer needs to download NPCI's BHIM UPI mobile application or any other UPI based mobile application like PhonePe, Google Pay, PayTM etc. from Android Play Store or Apple App store depending on whether the phone is Android or iOS based.
• Customer specifies his choice of SIM which he/she wants to register on a dual sim device (in a single sim device, application automatically fetches the mobile number and proceeds) and thereby an outward encrypted SMS is sent from customer’s phone.
• The customer logs in to the application & selects the option - “Add a Bank” and selects “Nainital Bank”. The account details of respective Savings and Current Account including Account Number & IFSC registered for that mobile number are returned to the application.
• The customer selects the respective Nainital Bank account which he/she wants to add to UPI application and links the bank and account number with the virtual id in the format mobilenumber@upi e.g. 1234567890@upi
• If the user has not setup UPI PIN before in any UPI based application, they can request UPI PIN to be setup during the account adding process using the last 6 digits of Debit Card and its expiry date.