The Working of UPI Payment Decoded | One Byte At a Time Ep #4 | Unified Payment Interface | SCALER
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- Опубликовано: 17 май 2024
- One Byte at a Time is a series in which we decode the logic behind tech that you use on a daily basis. In this episode, we discuss how UPI works and how it has revolutionised payment methods. Check out our FREE masterclasses by leading industry experts now: www.scaler.com/events?...
What is UPI?
UPI or unified payments interface is a real-time, single-window payment programme developed by the National Payments Corporation of India. In layman’s terms, UPI is a payment interface that allows you to transfer payments in real-time from one bank account to another. UPI enables you to transfer cash safely, discreetly, and efficiently without disclosing any bank-specific information.
UPI is gradually becoming the most popular method of digital payment. Its interface is interoperable with the vast majority of banks and digital wallets. Google Pay, Paytm, and PhonePe, are a few of the most popular UPI payment apps.
The primary goal of the UPI launch was to create a cashless economy. And it has since dramatically altered the way we pay bills, shop, and send money to family members.
But how has UPI made payments so simple? What is the mechanism behind it?
Most importantly, is it truly as safe as it claims to be?
Learn more in this episode of One Byte at a Time.
Topics covered:
0:00 - Introduction
1:24 - What is UPI?
1:49 - How does UPI work?
3:31 - Transaction flow in UPI
4:15 - Architecture of UPI
6:00 - Payment apps integration with UPI
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Where the user data getting stored for authentication, as NPCI api are stateless . . . Technically how authorization happening
Man, Scaler a great explanation. To the question asked at the end, will crypto/emoney take over UPI, yes there is a possibility or its possible that both can coexist. UPI payment with FIAT money and crypto with Digital Rupee coin. The governments world over will have pain with crypto as masking and money laundering very difficult to trace out the source. Atleast with UPI no such issues. Will western world like USA or China would allow UPI to flourish? Maybe not by bringing their own digital money. But the UPI model is very difficult to beat as there is no transaction fee involved unlike SWIFT. Surely very difficult to stop UPI from progress.
Great content team👍
Thanks for this wonderful byte.
How secure is the UPI where all the user data is authenticated? What is the level of risk and exposure to hackers involved in this system? With the growing digital world, security becomes the most important part in such transactions. Some insightful information on this would help the audience. Thank you.
Yes a good question. At the authentication level , only if the hacker is able to retrieve the information from server. Because at authorization level difficult to do because NPCI API’s are stateless.
Also the fact that authentication and authorisation servers are based in India, it makes the system more secure
Absolutely mind blowing video what is the next step
superb video guys thank you
Do you know full form of Paytm?
Absolutely awesome thank you for your good video
Does WhatsApp UPI also work fine?
Can we use Google Pay for large payments also?
Yep why not, but every payments application has a limit so you may read the t and c for that.
Great content, we need more of it.
UPI Bharat ki ak mahan khoj hai ❤
Thank you for this wonderful information
🔥🔥🔥
So why not just use contactless payments or bank to bank transfer? Same day bank transfer is free.
What is cost of scaler academy DSA fees
🔥
I got very good information from this video.
Which is good upi or net banking ?
Upi
Great content yaar you are too good
UPI is very greatful system 🇮🇳.
... add CC tokenization capability to the UPI echo system, allowing the holder to have a token, which interface via UPI to the PG... basically connecting the dots from mobile payments into the CC/Network schemes.
By CC do you mean Credit card ? Payment with credit cards is available with Indian Rupay credit cards.
Insightful content
Very informative video
I really enjoy using this app.
Very cool video thank you for information
I use UPI everyday. i like it
Very impressive video
Nice video thank you so much
I really like this information video
Good one from scaler.
I want to know How is Tinder used?
Upi works very well
❤
4:05
It's been a long time using debit card.
Interesting series.. Whats next?
Is it OK to use WhatsApp UPI?
More video like this 🔥
very good
The authentication here is with the sim
Where is the architecture?
Well,I was unable to understand anything
hehe bhai ne 5 rupees transfer kiye😂😂😂
❤❤❤
Awesome!