A. Financial Transactions: UPI supports the following financial transactions viz.
a) Pay Request: A Pay Request is a transaction where the initiating customer is pushing funds to the intended beneficiary. Payment Addresses include Mobile Number & MMID, Account Number & IFSC and Virtual ID
b) Collect Request: A Collect Request is a transaction where the customer is pulling funds from the intended remitter by using Virtual ID.
B. Non-Financial Transactions: UPI will support following types of non-financial transactions on any PSP App viz.
- Mobile Banking Registration*
- Generate One Time Password ( OTP)
- Set/Change PIN
- Check Transaction Status
- Raise Dispute/ Raise query
* Mobile Banking Registration is possible only if the mobile number (which is to be registered) is registered with the Issuer Bank for SMS Alerts/mobile alerts.
UPI can be accessed on all platforms viz. Android / iOS & Windows – As of now, the Apps have been developed by members only on Android platform.