Question

Identify the key features of the Unified Payments Interface (UPI).

1. UPI operates 24/7/365, allowing instant money transfers at any time.
2. Users must share sensitive bank account numbers and IFSC codes for every transaction.
3. The platform supports single-click authentication, enhancing security.
4. UPI only supports peer-to-peer transfers and does not include merchant payments.

• A. മൂന്ന്
• B. ഒന്ന് മാത്രം
• C. രണ്ടും നാലും
• D. ഒന്നും മൂന്നും

Answer 1

Answer:

D. ഒന്നും മൂന്നും

UPI is characterized by several user-centric features, including its round-the-clock availability for instant transfers. It employs Virtual Payment Addresses (VPAs) instead of direct bank account details, significantly boosting security by eliminating the need to share sensitive financial information. Furthermore, UPI employs a robust single-click authentication process that adheres to regulatory standards, ensuring both ease of use and strong security. The versatility of UPI extends to various payment types, such as person-to-person (P2P) transfers, person-to-merchant (P2M) payments, bill settlements, and QR code-based transactions.