UPI & QR | The Pandharpur Merchant Co-Operative Bank

UPI (Unified Payments Interface)

UPI is an instant digital payment system used in India that allows you to send and receive money directly between bank accounts, 24×7 (A real-time digital payment system developed by NPCI in India).

Key Features

Instant money transfer
Works 24/7, even on holidays
No need to share bank details
Free or very low cost
Highly secure (PIN-based)

How UPI Works

You can pay or receive money using:

UPI ID (example: name@bank)
Mobile number
QR code
Bank account + IFSC

QR Code

A QR (Quick Response) code is a scannable square code used to make payments quickly and safely, especially with UPI.

QR Code in Payments

Stores payment details like UPI ID / merchant info
Scanned using apps like Google Pay, PhonePe, Paytm, BHIM
Reduces typing errors
Very fast and convenient

Where QR Codes Are Used

Shops & street vendors
Restaurants
Online payments
Event tickets

Safety Tips

Check merchant name before paying
Never scan QR codes sent by strangers to “receive” money
Don’t share UPI PIN or OTP