UPI Unified Payments Interface

India has been at the forefront of fintech innovations for years now. Having the second largest population in the world, India has managed to do something other countries are still failing to do. It digitized the payment system facilitating online transactions. Why? Because more than 80% of the entire population owns at least one smartphone. As a result, UPI was born.

Unified Payments Interface or UPI is one of the most popular online banking services among Indian casino players. The main benefit of using UPI at online casinos is that it allows players to use direct money transfers to top up their casino balances. Moreover, the service is available round the clock, enabling gamers to access different bank accounts from a single mobile application. Therefore, many Indian casino sites have UPI listed on their banking pages.

What is UPI?

It is an instant mobile banking service empowering gamers to make quick and secure deposits and withdrawals at online casinos. The service utilizes IMPS (Immediate Payment Service) technology developed by the National Payment Corporation of India (NPCI). NPCI was founded in 2008 when the Indian Banks Association and Reserve Bank of India (RBI) joined forces to introduce a robust payment platform.

NPCI is a non-profit organization authorized by India’s central bank to handle electronic payments in the country. The company develops innovative payment solutions aiming to encourage cashless financial services across the country. The NPCI obtained a Certificate of Commencement of Business from the government in April 2009.

UPI Payment — Connect multiple bank accounts through a single UPI app for immediate transfers

At first, only ten banks backed up the project. However, in 2016 this number rose to 56 member banks. In 2021, the number of Indian banks supporting UPI transactions exceeded 250. In other words, the UPI platform provides gamers and online casinos access to all major banks in the country.

IMPS

Immediate Payment Service (IMPS) was launched in 2010. The platform was created to facilitate money transfers between banks. Then, in 2016, NPCI introduced UPI that revolutionized the Indian financial sector.

UPI and IMPS are fully compatible services. However, this is more mobile-friendly, ideal for mobile and in-app payments. It allows you to make instant transfers on mobile devices. UPI is also more casino-friendly as UPI transactions are much simpler and require fewer details to make the payment. You can use it for various purposes, to pay utility bills or fund your online casino account. It also supports QR code-based transfers (scan and pay).

However, the most significant advantages of using UPI at online casinos include 24/7 availability, no credential sharing as UPI offers virtual ID, and one-click 2-factor authentication. Moreover, you can link multiple bank accounts from the same UPI app. The most popular UPI app is BHIM (Bharat Interface for Money), developed by the National Payments Corporation of India. You can install BHIM mobile app from Google Play or App Store. However, there are other third-party UPI-based apps you can use, such as PhonePe or Amazon Pay.

To sum it up, this is a convenient, quick, and safe online banking service you can use whenever you like to top up your casino balance.

Facts

Payment Type	Mobile Banking
Country	Mumbai, India
Launced	2016

How to Deposit with UPI?

UPI deposits are quick and easy. But before we explain to you how to deposit with UPI, you need to set up a UPI account first. The process is also straightforward. Install the UPI app and submit the required details, like name, address, email, and mobile phone number. Create a 4-digit login password and your virtual payment address (virtual ID). Go to the Manage Bank Account (Add/Link/Manage Bank Account) to connect your bank account with the virtual ID. Finally, generate the UPI PIN necessary to verify each UPI transaction.

Once you’ve registered your UPI account, open the desired online casino site. Find the deposit section and choose UPI from the list of available payment methods. Enter the amount you wish to deposit and submit your virtual payment address. Open your app to get the PIN code necessary to finish the transaction. Submit the PIN on the casino’s deposit page to confirm the payment. If you’re using the BHIM app, you’ll see a success status on the screen. Also, you will receive an SMS from your bank informing you of the transaction. That’s it. You’re good to go.

How to Withdraw with UPI?

One more advantage of UPI as an online casino banking method is that it allows you to cash out winnings. These withdrawals are similar to depositing funds with UPI. Open the banking page and look for the withdrawal section. Pick UPI from the list of the available withdrawal methods. Enter the amount you want to withdraw from your casino balance. Provide your banking details, including the bank account number. Type in IFSC code (Indian Financial System Code) and submit the request. Wait for the withdrawal request to be processed, and check out the bank account to see if the money has appeared. It cannot be simpler than that.

FAQ

Does a customer need to register before remitting funds using UPI?

Yes, a customer needs to register with his/her PSP before remitting funds using this method and linking his accounts.

Can I link more than one bank account to the same virtual address?

Yes, several bank accounts can be linked to the same virtual address depending on the functionalities being made available by the respective PSPs.

What is the limit of fund transfer using UPI?

At present, the upper limit per transaction is Rs.1 Lakh.

Transfer Time and Fees

We’ve said earlier that UPI is an instant payment method available 24/7. Therefore, the deposits are handled in real-time. It means that you can immediately visit the casino lobby to start wagering for real. However, cashing out winnings with it lasts longer. Just like with any other withdrawal from the online casinos. UPI withdrawal may last up to 3 days. The timeframes depend on the casino, as each has a different withdrawal policy. Some of them will handle your request quicker than others. But, the worst-case scenario is a maximum of three days.

Most online casinos don’t charge players anything for depositing and withdrawing with this payment method. Still, we advise you to visit the banking page and check out the casino’s Terms and Conditions, as exceptions always exist. Also, NPCI doesn’t have any fees for transactions through Unified Payment Interface.

Security

UPI uses 2FA (2-factor authentication) for each payment. Two-factor authentication safeguards your account and prevents any fraudulent activities and unauthorized transactions. Also, the UPI platform retrieves your bank account details over a secure banking network. The platform utilizes the latest SSL encryption, and it doesn’t store or use your sensitive financial data. Finally, you need to submit the unique PIN to authenticate each transaction.

In the end, let’s remind you that this method is run by the NPCI, a state-controlled division of the Reserve Bank of India. Therefore, the National Payment Corporation of India is supervised by the Ministry of Finance and the Government of India. In other words, UPI is a trustworthy banking service you can use to make secure these online casino deposits and withdrawals.

Also Nice to Read

News

UPI Unified Payments Interface

What is UPI?

IMPS

How to Deposit with UPI?

How to Withdraw with UPI?

FAQ

Does a customer need to register before remitting funds using UPI?

Can I link more than one bank account to the same virtual address?

What is the limit of fund transfer using UPI?

Transfer Time and Fees

Security

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