UPI payments
UPI Payments Loan Facility Loan is the right option to meet our needs in today’s time. Many people can use UPI to promote digital payments in the country. You can do small to big transactions through UPI. Now loan can be easily taken through UPI also.
Many types of transactions are being done through UPI across the country. Today, UPI is used for transactions ranging from groceries to bank accounts. Now UPI has also started the facility of pre-approved loan for the people. This facility has also been approved by the Reserve Bank of India.
What is a pre-approved loan?
In Pre-Approved Loan, customers can make payment even without any credit card. Understand it in this way that just as you apply for a loan by going to the bank, in the same way you can apply for a loan through an app. After its approval, the bank will give you a pre-approved credit line. After this you can use it as per your need.
Today, savings accounts, overdraft accounts, prepaid wallets and credit cards are also being linked to UPI. Banks decide the terms and conditions of credit lines.
About UPI
Many people in the country make payments through UPI. Now it is being used abroad also. Let us tell you that retail handles 75 percent of digital payments in India. The facility to link RuPay credit cards with UPI is also being provided in the country. Recently RBI has given information about UPI data. 10 billion UPI transactions have been done in August. At the same time, there were 9.96 billion transactions in July.
People in the country can now make UPI payments through many apps linked to UPI i.e. Paytm, Phone-Pay, Mobikwik. Many people can also make UPI payment through BHIM app. UPI is considered safe for online payments.
