UPI 2.0

Question 1

Who has launched it ?

Answer 1

National Payments Corp of India (NPCI)

Question 2

What is UPI 2.0 ?

Answer 2

It is an upgraded version of Unified Payments Interface

Question 3

What are the key features of UPI 2.0 ?

Answer 3

1) Linking of overdraft account
2) One time mandate
3) Invoice in the inbox
4) Signed intent and QR

Question 4

Who developed UPI ?

Answer 4

NPCI and RBI

Question 5

Why was UPI established ?

Answer 5

To aid transfer of money using a cashelss system

Question 6

Who are the 3 key players of a UPI ecosystem ?

Answer 6

1) Payment Service providers to provide interface
2) Banks to provide underlying accounts
3) NPCI to act as a central switch