UPI Payment Tips and tricks
UPI payments, is payment from one banking smartphone mobile application to another. You can make a transfer using your bank app, like the Yono app by SBI, the Kotak Mahindra app, the HDFC app etc. where I personally prefer the Kotak Mahindra app.
Note that the UPI ID can be the same as the originating bank or a different bank.
are all types of apps which tie up with a bank. For example, when Google Pay started, as Tez, it was initially tied up with Axis Bank, hence every user would get a UPI ID or virtual payee address VPA, as user@okaxis . Today Google Pay is tied up with multiple banks.
PhonePe has always been using Yes Bank as their partner, hence the ID was user@ybl . This is also the reason why PhonePe as a service went down, when the Yes Bank scam occurred. Being popular, it led people to believe that UPI as a service was down.
PhonePe only lets you transfer to other PhonePe users.
Note that the BHIM app is used by other banks for providing the UPI service.
The service was built for smartphones, so if you delete your application, you will not be able to receive or send money till you install the application again.
Please note that today Google Pay links you with your bank, while PayTM and Airtel Money are small finance banks.
The main thing you need, is the UPI ID. Google Pay collects your phone number, so you can use the phone number as the ID, but this is an invasion of privacy, just like WhatsApp.