Generally, to send money to a friend or family member through the Unified Payments Interface (UPI), some of their information is required. To send money from a UPI app, you must have a friend or family member’s bank account or UPI ID information, but it is no longer required. ICICI Bank, Kotak Mahindra Bank and Airtel Payments Bank have launched ‘Pay Connect’ or ‘Pay Your Contact’. With the introduction of this facility, you will now be able to send money to a friend or relative only via mobile number. That is, sending money through UPI is even easier. Other banks will also launch the facility in the near future.
Send money like this
To avail this facility, the sender must open the bank application and first click on the “Pay Connect” option. After this the mobile phone book opens. The contact must choose who to send the money to. By doing this, the bank app automatically detects the connection’s UPI address, if the person next to it has a UPI address. Now the sender has to check the UPI, enter the amount, the money is credited to their account after entering the password. The person receiving the money can be in any app – PhonePay, Google Pay or PayTM. The bank application automatically detects the UPI address.
Saves time
According to banks, with the introduction of a new facility in UPI, there is no need to enter UPI ID or bank account details to process the payment and it will save time. Also, now it’s easier to transfer money. Customers of Kotak Mahindra Bank will get Rs 50,000 per day under this facility. And ICICI Bank has to pay Rs.
