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BHIM Vijaya UPI

Unified Payments Interface or the UPI is a payment system developed by the NPCI so as to facilitate easy fund transfer between accounts.

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BHIM Vijaya UPI

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  1. BHIM Vijaya UPI

  2. BHIM Vijaya UPI • Unified Payments Interface or the UPI is a payment system developed by the NPCI so as to facilitate easy fund transfer between accounts. • By using BHIM Vijaya UPI, one can connect and transfer funds from any bank account with the help of Virtual Payment Address (VPA). • With UPI, there is no need to remember the account number of the recipient since transactions are performed using VPA. • Virtual Payment Address or VPA is a unique identifier set by the user and is linked with the account number. Hence for transactions only the VPA and IFSC code are needed.

  3. One app for multiple bank accounts. • All customers (Vijaya Bank and non Vijaya Bank) can use BHIM Vijaya UPI to transfer money (send/request) without knowing the recipient account details. • Use the Virtual Payment Address (VPA) to add beneficiary instantly. • Ability to check the balance of all the linked accounts. • Fund transfers are instant and can be performed 24*7, 365 days in a complete safe and secure way. • Share the UPI financial address without any fear of misuse. • Across banks, customers can create multiple virtual address for multiple accounts. • QR based payment solution. Scan N Pay. • Use the app to view the transaction history. • Log app related complaints/grievance. BHIM Vijaya UPI Features

  4. Registering user profile. • Bank accounts creation • Facility to add payment address • Authentication of the user • Authorizing the user • PIN generation Transaction sets supported Core transaction functionality • The facility to request payment • Collect request approval (Payer approval through Mobile application) • Ability to Debit and Credit Payer/Payee accounts • Virtual address resolution for NPCI-UPI • All models of NPCI UPI (2-party, 3-party and 4-party) are supported • Third party address book management facility.

  5. Transfer cost: When compared to other modes of payment; IMPS and NEFT, UPI is much cheaper. • Cash-free: With the usage of UPI more people are moving towards a cashless economy. • More secure: With UPI, account number and card details are protected since transactions are performed using the VPA and MPIN. • Instant transfer: Since UPI is developed on the IMPS platform, transactions can be performed instantaneously and can be performed 24/7 all year round. • One app for many: With UPI app, you don’t need multiple apps for different bank accounts. With a single app say for example, BHIM Vijaya UPI, we can link multiple accounts from different bank accounts. • A boon for merchants: Compared to the POS machine, UPI is cheaper. Unlike POS, there is no monthly rent for using the UPI. BHIM Vijaya UPI Benefits

  6. VIJAYA BANK • Vijaya Bank is a PAN India Institution, serving diverse sectors of the society • The Bank offers a bouquet of innovative and attractive products and services to its customers. It has also incorporated a host of latest Digital Banking products, to provide the best services to its customers. Digital Banking services are: • VPAYQWIK • Mobile Banking • Net Banking • Vijaya UPI • Twitter bankingand many more… For details, visit: https://www.vijayabank.com

  7. THANK-YOU

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