BHIM Vijaya UPI

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BHIM Vijaya UPI
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BHIM Vijaya UPI

• Unified Payments Interface or the UPI is a
  payment system developed by the NPCI so as to
  facilitate easy fund transfer between accounts.
• By using BHIM Vijaya UPI, one can connect and
  transfer funds from any bank account with the
  help of Virtual Payment Address (VPA).
• With UPI, there is no need to remember the
  account number of the recipient since
  transactions are performed using VPA.
• Virtual Payment Address or VPA is a unique
  identifier set by the user and is linked with the
  account number. Hence for transactions only the
  VPA and IFSC code are needed.

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BHIM Vijaya UPI Features

• One app for multiple bank accounts.
• All customers (Vijaya Bank and non Vijaya Bank)
  can use BHIM Vijaya UPI to transfer money
  (send/request) without knowing the recipient
  account details.
• Use the Virtual Payment Address (VPA) to add
  beneficiary instantly.
• Ability to check the balance of all the linked
  accounts.
• Fund transfers are instant and can be performed
  247, 365 days in a complete safe and secure way.
• Share the UPI financial address without any fear
  of misuse.
• Across banks, customers can create multiple
  virtual address for multiple accounts.
• QR based payment solution. Scan N Pay.
• Use the app to view the transaction history.
• Log app related complaints/grievance.

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Transaction sets supported
Core transaction functionality

• Registering user profile.
• Bank accounts creation
• Facility to add payment address
• Authentication of the user
• Authorizing the user
• PIN generation

• The facility to request payment
• Collect request approval (Payer approval through
  Mobile application)
• Ability to Debit and Credit Payer/Payee accounts
• Virtual address resolution for NPCI-UPI
• All models of NPCI UPI (2-party, 3-party and
  4-party) are supported
• Third party address book management facility.

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BHIM Vijaya UPI Benefits

• Transfer cost When compared to other modes of
  payment IMPS and NEFT, UPI is much cheaper.
• Cash-free With the usage of UPI more people are
  moving towards a cashless economy.
• More secure With UPI, account number and card
  details are protected since transactions are
  performed using the VPA and MPIN.
• Instant transfer Since UPI is developed on the
  IMPS platform, transactions can be performed
  instantaneously and can be performed 24/7 all
  year round.
• One app for many With UPI app, you dont need
  multiple apps for different bank accounts. With a
  single app say for example, BHIM Vijaya UPI, we
  can link multiple accounts from different bank
  accounts.
• A boon for merchants Compared to the POS
  machine, UPI is cheaper. Unlike POS, there is no
  monthly rent for using the UPI.

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VIJAYA BANK

• Vijaya Bank is a PAN India Institution, serving
  diverse sectors of the society
• The Bank offers a bouquet of innovative and
  attractive products and services to its
  customers. It has also incorporated a host of
  latest Digital Banking products, to provide the
  best services to its customers.
• Digital Banking services are
• VPAYQWIK
• Mobile Banking
• Net Banking
• Vijaya UPI
• Twitter banking and many more
• For details, visit https//www.vijayabank.com

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THANK-YOU