Customers will be able to create a virtual address on the Freecharge Android app and link it to their bank account to register on the UPI platform. When the customer makes the payment using their handle or Axis Bank’s VPA, they will be transferring money from their bank account to the merchant or beneficiary account without exposing details such as account number, IFSC code, etc.
Digital payment platform FreeCharge in partnership with Axis Bank has launched Unified Payments Interface (UPI) that allows instant transactions from a smartphone using a virtual payment address (VPA).
So let’s discuss some questions related to this post:
1. Expand the term VPN and UPI?
2. Name the Digital payment company, which has the partnership with Axis Bank has launched UPI that allows instant transactions from a smartphone using a VPA.
Source – The Hindu