The UPI Juggernaut
The Reliance Jio money app will soon throw its hat in the Unified Payment Interface (UPI) based instant digital payments ring. Facebook owned WhatsApp is also getting its act together to make a splash soon.
The entry of global giants such as WhatsApp or Reliance Jio, whose parent RIL also owns a payments bank, is expected to give further boost to an already rocking UPI, a payments system designed by NPCI that can be thought of like an email ID that your bank uses to transfer money through the Immediate Payments Service, or IMPS, which is faster than NEFT and works through out the day.
And considering the kind of interest UPI is getting from global as well as Indian giants, it is well set to dwarf all other payment systems, say experts. "The beauty of UPI is that your bank account becomes portable. A
