"With Rapid Digital Transformation, sending money from one bank account to another is no longer a difficult task. And UPI has played a huge role in bringing about this change. Creating a UPI ID or sending money through UPI is fairly simple. It requires only a UPI ID/mobile number/QR, which is unique to every user. Therefore, you don’t need to provide details like the IFSC code and bank account number while making transactions
Unified Payments Interface (UPI) is a mobile payment method payment that you can use to transfer money from one bank account to another. The system brings multiple bank accounts under a single mobile application
This quick, safe, and hassle-free process has made it a popular choice among Indian citizens. The number of UPI payments in India is constantly on the rise. For instance, in November 2022, UPI recorded 730.9 crore transactions worth Rs 11.90 lakh crore
Thus, UPI has given the necessary push to ‘cashless’ payments that the government has been professing through its Digital India initiative.
What is UPI ID
A UPI ID means Unified Payment Interface Identity. A UPI ID acts as a virtual payment address (VPA) for online transactions/money transfers. It acts as a way for the banks to track the user’s account.
A UPI ID format is:
xyz@bank (where, ‘xyz’ can either be your first name, a part of your email address, or your mobile phone number, and ‘bank’ is the name/initials shortened name of the bank).
In this article learn the benefits of payment using a UPI ID and create one following a few simple steps!.."
https://www.cheggindia.com/earn-online/how-to-create-upi-id/