Unified Payment System (UPI), a common platform which links your _________ to a virtual payment address, effectively making money transfer as easy as an SMS. A. Bank Account Number B. IFSC Code C. Virtual Address D. All of the Above E. None of the Above.

1 Answer

Answer :

A. Bank Account Number Explanation: Unified Payment System (UPI), a common platform which links your bank account number to a virtual payment address, effectively making money transfer as easy as an SMS.

Related questions

Description : Customers using the UPI system only share _____ A. Bank Account Number B. IFSC Code C. Virtual Address D. All of the Above E. None of the Above.

Last Answer : C. Virtual Address Explanation: Customers using the system do not have to disclose any sensitive information such as bank account numbers or IFSC codes during a financial transaction. It is safe as the customers only share a virtual address and provide no other sensitive information.

Description : UPI will eliminate the need of entering ________ details A. Bank Account Number B. IFSC Code C. CVV code D. All of the Above E. None of the Above.

Last Answer : D. All of the Above Explanation: UPI can be used for shopping at the supermarket, or online shopping as well. It will eliminate the need of entering card details such as number, expiry date, CVV code and OTP.

Description : Which of the following is the Slogan of UPI(Unified Payment Interface)? A. Less Amount More Digital B. Less Cash More Transaction C. Less Cashflow More Digital D. Less Circulation More Digital E. Less Cash More Digital

Last Answer : E. Less Cash More Digital Explanation: Less cash more digital is the Slogan of UPI(Unified Payment Interface)

Description : Axis Bank has tied up with which payments company to operate its Unified Payments Interface (UPI) enabled app? A) PayU B) Paytm C) Freecharge D) Mobikwik E) Oxigen

Last Answer : C) Freecharge Explanation: Country‘s third largest private sector lender Axis Bank said it is ready with a Unified Payments Interface (UPI) app, while it also announced a tie-up with digital payments company Freecharge for it.

Description : Which of the following is the format of Virtual Address in UPI? A. [name] @ [bank name] B. [Phone number] @ [bank name] C. [name] @ [bank branch name] D. Both (A) and (B) E. Both (B) and (C)

Last Answer : D. Both (A) and (B) Explanation: Instead of account details, the receiver can share a virtual address, which can be your name, or your phone number and the sender can ... your phone number is 1234567890, then your virtual address could be 1234567890@axisbank or 1234567890@icicibank and so on.

Description : An open source platform for mobile-to-mobile fund transfers without account details launched by NPCI was ________ A. Unified Payment Interface B. Union of Payment Interface C. Payment Interface D. Unique Payment Interface E. People‘s Payment Interface

Last Answer : A. Unified Payment Interface Explanation: UPI allows you to pay directly from your bank account to different merchants without the hassle of typing your card details, or netbanking/wallet password.

Description : In UPI, we can Send money to any bank account through mobile without entering ____________ A. debit/credit card details B. net banking/wallet password C. receiver‘s account number. D. All of the Above E. None of the Above.

Last Answer : D. All of the Above Explanation: Send money up to Rs 1 lakh to any bank account through the mobile without entering debit/credit card details, net banking/wallet password or even knowing the receiver‘s account number.

Description : The first 4 alpha characters in the 11 digit IFSC code represents ________ A. Bank Name B. Branch Name C. Place Name D. None of the Above

Last Answer : A. Bank Name Explanation: The Indian Financial System Code (IFS Code or IFSC) is an 11-character code with the first four alphabetic characters representing the bank name, and the last six characters(usually numeric, but can be alphabetic) representing the branch. The fifth character is 0 (zero).

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