Unified Payment Interface (UPI) is a quick and easy way to send and receive money and make payments using a Virtual Payment Address (VPA) without entering additional bank information. It provides a simple, secure, and instant way to transfer funds.

Features and Benefits

• Send and receive money instantly using VPA.
• Make payments to merchants using VPA.
• Available 24/7, even on bank holidays.
• Safe and secure payments with two-factor authentication.

Essentials for UPI Registration

• Debit Card
• Phone Number
• UPI-enabled mobile application

UPI Registration Process

To register for UPI, follow these steps:

• Ensure you have a Bank Account, Registered Mobile Number, and Smartphone.
• Download the UPI-enabled app from the Play Store (Android) or App Store (iOS).
• Register/Login into the app.
• Add your Bank Account – Search for “Kanakamahalakshmi Co-op Bank” and select it.
• Enter the last 6 digits of your debit card and its expiry date, then enter OTP.
• Generate your M-PIN to complete the process.
• Enjoy the benefits of UPI, such as balance inquiry, fund transfer, bill payments, etc.

UPI Transaction Limit

The UPI transaction limit per day is set at Rs 1 lakh as per NPCI regulations. However, the maximum limit can vary by bank.

For example, the PhonePe transaction limit per day is Rs 1 lakh (Rs. 1,00,000), and the maximum number of transactions allowed per day is 20.

Special Conditions after Fresh Registration

After fresh registration or account fetch on UPI using iOS (iPhone), the transaction limit is restricted to Rs 5,000 per day for the next 3 days. After 3 days, the usual UPI transaction limit of Rs 1 Lakh will apply.