How UPI Apps Are Replacing The Wallets?

UPI or Unified Payments Interface is a revolutionary new payment system developed by the National Payments Corporation of India (NPCI) and the Unique Identification Authority of India (UIDAI). It is a fool-proof and secure system as the transactions are carried over in a highly encrypted format. It also comprises of Two Factor authentications. It uses an email-like virtual payment address (VPA) instead of a bank account number or any other detail. The person uses a mobile banking personal identification number (MPIN) to authorize payment.