Taking bundles of cash is no longer the convenient option we follow. People are now into online transactions since the process is so secure and easy. Also, there are so many discounts we receive due to online transactions. For online transactions, we need UPI (Unified Payments Interface) which has made digital payments in India so huge. UPI is an easy and instant payment system that helps account holders transfer money from their bank accounts with the help of a smartphone. UPI methods are simple because of the Virtual Payment Address. Let us learn what is VPA in online payment.
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Virtual Payment Address is a unique financial ID that helps you to transfer or receive money in your bank account via UPI. For example, your email address is made up of a unique ID, and your phone number is made up of some specific number. These unique IDs and numbers will help you reach you directly. For that, a Virtual Payment Address (VPA) creates a secure route to carry transactions directly to your bank account.
In these types of transactions, you do not need to share a bank account number, branch name, IFSC code etc. to send or receive money. You can just share your VPA and you will receive the money in your bank account. This is what is VPA in online payment means.
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What is VPA in online payment?
Krishna
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2022-08-17T10:33:13+00:00 2022-08-26T18:04:18+00:00Comment
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