UPI Without Bank Account: The trend of digital transactions has increased rapidly in India. From small shops to big malls, people are making payments through UPI, due to which the trend of hard cash has reduced considerably.
Let us tell you that the National Payment Corporation (NPCI), the organization that regulates UPI payments, has come up with a big update this time, now you can make payments without a bank account. You can see more information about this in this article.
UPI Payment Without Bank Account: The trend of digital transactions has increased rapidly in India. From small shops to big malls, people are making payments through UPI, due to which the trend of hard cash has reduced considerably.
Let us tell you that the National Payment Corporation (NPCI), the organization that regulates UPI payments, has come up with a big update this time, now you can make payments without a bank account. You can see more information about this in this article.
UPI Without Bank Account: The government is also taking steps in this direction to make UPI accessible to all, even those who are unable to use it yet due to not having a bank account.
Now make payments without a bank account:
Unified Payments Interface (UPI): Under the new changes, customers can now make payments even without a bank account. Let us tell you that NPCI has recently launched the Delegated Payment System, with the help of which now even those customers who do not have their own bank account can make UPI payments.
At present a bank account was necessary for UPI:
Currently, to use the UPI service, it is mandatory for the user to have a bank account. To activate the UPI account, it is necessary to link the mobile number and Aadhaar card, which is linked to the bank account. NPCI is now planning to expand this service so that people who do not have a bank account can also make payments through UPI.
How it works:
In this new payment system, NPCI will provide users with the facility to set up their savings account for use by others. Users can choose to activate this feature, after which even a person without a bank account can make payments after a small verification.
Control with the primary account holder:
UPI Without Bank Account: For your information, let us tell you that only savings account holders can avail this facility. However, this facility is not available for customers with credit card or loan amount. Let us tell you that under this facility, the primary account holder will have master access who can provide access to any member at any time or can stop it for payment. With this facility, many members of the same family can enjoy UPI payment with the help of a single savings account.
How to create a UPI ID without a bank account:
App download: First of all download BHIM UPI or any other UPI service app.
Sign Up: Register with your mobile number.
Verify: Complete the verification process through OTP.
Wallet set up: Set up your digital wallet in the app.
UPI ID: Create your UPI ID by following the instructions given.
UPI PIN setup: Set a secure UPI PIN for transactions.
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