What do you need to know about UPI?

Making payments is no longer a hassle with the recently introduced UPI system by the National Payments Corporation of India with the founder, Reserve Bank of India. It came into operations on 11 April, 2016. This is a single payment platform which powers a number of banks together in order to provide services to customers. There are 30 banks that have joined this system. These include public and private sector banks such as HDFC Bank, Axis Bank, Punjab National Bank, ICICI Bank, State Bank of India and many others. The main aim of UPI is to enable transfer of money between two bank accounts with the use of a smartphone.


With the use of UPI, you don’t have to type out all the details of your credit card or any other for the purpose of any transaction. This is because you can make direct payments through this app from one bank account, either online or offline, to different merchants. Every participating bank has its own UPI app which is available on Google Playstore. If you are wondering what kind of transactions can you make on this app, well, it could be anything such as paying for your child’s tuition fees or payment to any other person that you need to make from a vendor to a relative.

There is no time restriction when it comes to the functioning of Unified Payment Interface. There is a transaction limit on the use of UPI which is Rs. 1 lakh on every transaction. In terms of safety of the app, it is very secure and reliable. It is only the virtual address of the customer that is shared. There is no other information that is revealed. After the announcement of demonetisation, UPI comes across as a great mode of payment for many people in the country. For example, you can use Axis Pay if you have a bank account with Axis Bank for transactions.

Latest offers on Axis bank cards

Technology has revolutionized the way we deal with money. The days of using cash for purchases are long gone. The concept of plastic money is becoming more popular with each passing day. It all started with the introduction of credit cards that could be used to make cashless purchases in credit. Later came the revolutionary ATM cards or debit cards that can be used to withdraw cash and pay for purchases both online as well as offline.


Axis bank offers its customers numerous benefits on using the various cards provided by the bank. The banks provides four basic types of cards such as credit cards, debit cards, commercial cards and prepaid cards. The user of any of these cards is eligible for offers such as special discounts, vouchers, cashbacks etc. on several reputed brands. One can choose the card offers based on different categories such as travel offers, online offers, lifestyle offers, EMI offers etc. Some of the best Axis bank cards offers for the season are as follows:-

  1. Shoppers Stop :-
  • Flat 15% discount on Minimum purchase value of Rs. 1,800.
  • Promo code – AXIS16.
  • Valid till 30thJune 2016.
  1. Thomas cook :-
  • 225 discount on one-way & Rs. 500 return domestic flight tickets
  • 450 discount on one-way & Rs. 1,000 return international flight tickets
  • 5% discount up to a maximum discount of Rs. 2,000 discount on domestic holidays
  • 5% discount up to a maximum discount of Rs. 3,000 discount on personalized international holidays
  • 10% discount up to a maximum discount of Rs. 2,000 on domestic hotels
  • 10% discount up to a maximum discount of Rs. 3,000 on international hotels
  • Offer valid till 30th June 2016.
  1. Enrich:-
  • Valid on Axis bank MasterCard.
  • Get 15% discount on a minimum billing of Rs. 750 at Enrich Salons.
  • Offer valid till 30th June 2016.
  1. Myntra:-
  • 25% off on a minimum purchase value of Rs. 1999
  • Offer valid till 30th June 2016.
  1. Next electronic store:-
  • Axis Bank MasterCard offer.
  • Get additional 5% off on a minimum spend of Rs. 20,000 at Next stores (discount cap of Rs. 2,000).

Offer valid till 31st July 2016.