Exams › IBPS PO › General Awareness

Which among the following are the participants in UPI transactions?

1. Payer PSP
2. Payee PSP
3. Bank/NPCI
4. All of these.

Correct answer: All of these.

Solution

A UPI transaction involves all of these: the Payer's PSP (Payment Service Provider), the Payee's PSP, the issuer bank, the beneficiary bank, and NPCI as the central switch. All are participants in every UPI transaction.

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