What is Full form of UPI?

Full form of UPI is Unified Payment Interface.

UPI refers to Unified Payment Interface Solution and it is an interoperable payment system which enables quick payment using a unique identifier – Virtual Payment Address and is linked with your Bank account. 
UPI Full form

UPI Solution offers multiple features such as simplified on-boarding, availability of different transaction types, multiple ways to execute payment and seamless user experience. UPI has emerged as a preferred retail payment option within the digital payment ecosystem.


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Payment can be done from Mobile, Web or other Application by knowing just unique remitter VPA. Similarly, payment can be received by account holder by giving a unique identifier. Unified Payment Interface thus allows making payment without knowing Beneficiary Account details.
The UPI was introduced in January 2016 and adopted by only a few banks in the beginning, but later after realising its potential many banks have tied up with NPCI to offer UPI services to their customers, and many banks launched their own versions of the UPI app.