Glossary entry

UPI

UPI, or Unified Payments Interface, is a payment system widely used in India for instant account-to-account payments using a payment address instead of full bank details. It works inside India, so you should not assume you can pay a UPI address directly from the UK. Whether a provider can send to one depends on the provider, and it will say so on its own pages. Recipients often use UPI to spend or move money onward once your transfer has landed in their Indian bank account. See also: IFSC code, NRE account, and the guide Mid-Market Rate vs the Rate You Get.