How to get it:

• Bank a/c
• Mobile number should be linked with bank a/c
• Smart Phone with internet facility
• Debit Card for re-setting MPIN.

Service Activation:

• Download the App for UPI
• Do registration online on the App with a/c details
• Create a virtual ID
• Set MPIN
• 5-7 minutes

What is required for Transaction:

• Smartphone with internet facility
• Registered device only
• Use registered MPIN
• Self Service Mode

Transaction Cost:

• NIL to customer by most Banks
• Customer pays for data charges

Disclaimer: The transaction costs are based on available information and may vary based on banks.

Services Offered:

• Balance Enquiry
• Transaction History
• Send / Pay Money
  • Virtual Address
  • A/c no. & IFSC code
  • Mobile no. and MMID
  • Aadhaar (to be made functional)
•  Collect Money
  • Virtual Address
•  Add bank account
•  Change / Set MPIN
•  Notifications
• A/c Management

Funds Transfer limit:

• 1 lakh / transaction

Disclaimer: The funds transfer limits are based on available information and may vary based on banks.

Service Available from no. of operators:

• 30 banks List of Banks providing UPI Services as on 30.11.2016
• Interoperable

Physical PoS

Necessary conditions for service initiation:

• Handheld Device with card and /or bio-metric  reader
• Merchant Bank a/c
• Internet connectivity GPRS/ Landline

Service Activation:

• Paper work with Bank for merchant bank a/c
• Deposit certain amount
• Collect device
• Configuration and training to operator

What is required for Transaction:

• Any Card
• Resident for bio-metric authentication (AEPS)
• Assisted Mode

Funds Transfer limit:

• No limit for regulator
• Merchant’s Bank and payee Bank may set limit based on its own discretion

Disclaimer: The transaction costs are based on available information and may vary based on banks.

Service Available from no. of operators:

• Source RBI – Aug’16
  • 14.62 lakh
  • Interoperable

Mobile PoS

Necessary conditions for service initiation:

• Smartphone
• App from bank
• Integrated or external card and /or bio-metric  reader
• Reader connects using jack or bluetooth
• Internet connectivity 2G/3G/4G, or Wi-Fi
• QR code and Bar code reader

Service Activation:

• Merchant Bank a/c
• Download App
• Register device and/or mobile with merchant bank a/c and bank
• May require training or readable instructions

What is required for Transaction:

• Any Card
• Resident for bio-metric auth (AEPS) for registered devices
• Wallet account
• Scanner for  reading QR Code and Bar Code
• Self-service and/or Assisted mode

Funds Transfer limit:

• No limit for regulator
• Merchant’s Bank and payee Bank may set limit based on its own discretion

Disclaimer: The transaction costs are based on available information and may vary based on banks.

Virtual PoS

Necessary conditions for service initiation:

• Smartphone and /or Web browser
• Internet connectivity 2G/3G/4G, or Wi-Fi or landline
• E-payment gateway
• Virtual A/c for transactions
• May need QR code

Service Activation:

• Merchant Bank a/c with some merchant credentials
• In case of QR code for pull transactions
• May require ability to identify or authenticate user for service delivery

What is required for Transaction:

• Any Card
• Wallet Account
• Scanner for  reading QR Code and Bar Code

Funds Transfer limit:

• No limit for regulator
• Merchant’s Bank and payee Bank may set limit based on its own discretion

Disclaimer: The transaction costs are based on available information and may vary based on banks.

How to get it:

• Provide KYC (Know Your Customer) information to open a new account
• Aadhaar Number should be linked with bank a/c

Service Activation:

• None
• 1-2 minutes post Aadhaar seeding

What is required for Transaction:

• MicroATM
• Remember Aadhaar
• Give Bank name
• Present self (Aadhaar holder) with Bio-metrics (Finger and/or IRIS)
• Assisted mode

Transaction Cost:

• NIL to customer
• Merchant or BC may get charged or paid based on bank‘s discretion

Disclaimer: The transaction costs are based on available information and may vary based on banks.

Services Offered:

• Balance Enquiry
• Cash Withdrawal
• Cash Deposit
• Aadhaar to Aadhaar funds transfer
• Payment Transactions (C2B, C2G Transactions)

Funds Transfer limit:

• Banks define limit. No limit for RBI.

Disclaimer: The funds transfer limits are based on available information and may vary based on banks.

Service Available from no. of operators:

• 118 banks
• Interoperable

The micro platform will enable function through low cost devices (micro ATMs) that will be connected to banks across the country. This would enable a person to instantly deposit or withdraw funds regardless of the bank associated with a particular BC. This device will be based on a mobile phone connection and would be made available at every BC. Customers would just have to get their identity authenticated and withdraw or put money into their bank accounts. This money will come from the cash drawer of the BC. Essentially, BCs will act as bank for the customers and all they need to do is verify the authenticity of customer using customers’ UID. The basic transaction types, to be supported by micro ATM, are Deposit, Withdrawal, Fund transfer and Balance enquiry.