Unified Payments Interface (UPI)

UPI Overview

Unified Payments Interface (UPI) is a next-generation payments platform that facilitates instant transfer of funds from person to person and person to merchant using a smartphone. It powers multiple bank accounts into a single mobile application (of any participating bank), merges several banking features, seamless fund routing and merchant payments under one umbrella. It also caters to the‘Peer-to-Peer’ collect request which can be scheduled and paid as per requirement and convenience.

How is it unique?

  • Immediate money transfer through mobile device round the clock 24 x 7 and 365 days
  • Single mobile application for accessing different bank accounts
  • Single Click 2 Factor Authentication from security perspective yet provides for a very strong feature of seamless single click payment
  • Usage of Virtual Payment Address (VPA) provides for incremental security. There is no need to enter the details such as card no. account number, IFSC, etc., at the time of transaction initiation or authorisation
  • Payments can be done through any bank UPI App having accounts of multiple banks linked to the same UPI App
  • Payments can be initiated from the customer or the merchant. Merchant initiated payments will appear as a collect request in the customer’s UPI App for authorisation
  • Raising complaint/dispute from mobile app directly

Modes to access UPI

24 x 7 x 365 availability

  • Option to authorise payment round-the-clock
  • Real-time credits; practically within a few seconds

Mobile-app based

  • Easy-to-use payment mechanism and can be accessed anywhere
  • Notification will be received on customer’s mobile device for viewing and authorising the collect-to-pay request initiated by merchant. The VPA of the payee will be displayed on the UPI App of the customer

Bank Agnostic

  • Can be operated through any bank’s UPI App including BHIM App which is promoted by NPCI
  • Customer accounts in multiple banks can be linked to the same UPI App against a common VPA

Privacy and Security

  • Only VPA needs to be shared with merchant. Account no.’s not required to be shared for payment
  • Two-factor authentication, i.e. registered mobile device and UPIN required to approve the payment request

More on UPI

Disclaimer

Issued by The Hongkong and Shanghai Banking Corporation Limited, India. Incorporated in Hong Kong SAR with limited liability.

Call us on:

1800 103 2666 or 1800 103 2667

For Business Banking / SME Trade Customers

1800 419 2266 or 1800 102 6922

For Corporate Cards (within India)

+91-080-4908 9633 or +91-040-6717 3403

For Corporate Cards (from overseas)

Call us on:

1800 103 2666 or 1800 103 2667

For Business Banking / SME Trade Customers

1800 419 2266 or 1800 102 6922

For Corporate Cards (within India)

+91-080-4908 9633 or +91-040-6717 3403

For Corporate Cards (from overseas)

You are leaving the HSBC Commercial Banking website.

Please be aware that the external site policies will differ from our website terms and conditions and privacy policy. The next site will open in a new browser window or tab.

You are leaving the HSBC CMB website.

Please be aware that the external site policies will differ from our website terms and conditions and privacy policy. The next site will open in a new browser window or tab.