Glossary / Also known as

BHIM UPI

Another name for UPI (Unified Payments Interface).

Other names

What does BHIM UPI mean?

BHIM UPI is another name for UPI (Unified Payments Interface). India's real-time payment revolution - send money instantly using just a phone number or UPI ID, 24x7, for free.

The two names mean the same thing. You will see "BHIM UPI" in some ledgers, reports and contracts and "Unified Payments Interface" in others. The full entry covers how it works, with examples.

Read the full definition of UPI (Unified Payments Interface)

Topics

Payments and banking

From the glossary

Related terms.

Payments and banking UPI (Unified Payments Interface) India's real-time payment revolution - send money instantly using just a phone number or UPI ID, 24x7, for free. Also called UPI payment, BHIM UPI Payments and banking Digital Payment Any payment made electronically - via UPI, cards, net banking, or wallets - without physical cash changing hands. Also called electronic payment, e-payment, online payment Payments and banking IMPS (Immediate Payment Service) India's 24x7 instant interbank transfer system - money in the beneficiary's account within seconds, any day, any time. Also called IMPS transfer Payments and banking Razorpay India's dominant payment gateway - processing card, UPI, and net banking payments for businesses of every size. Also called Razorpay payment gateway GST reconciliation GST Reconciliation The process of matching your purchase records with supplier-filed GSTR-2A/2B data to ensure accurate and compliant Input Tax Credit claims. Also called GST recon, GSTR reconciliation, 2A/2B reconciliation Payments and banking ACH Transfer Batch-processed electronic bank transfers powering payroll, EMIs, and recurring payments across India. Also called Automated Clearing House transfer, ACH payment, ACH

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