2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Paytm
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PhonePe
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GPay
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Freecharge
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Detailed explanation-1: -In March, PhonePe became the first digital payments platform to cross 100 crore monthly transactions on UPI, clocking almost 130 crore transactions across all of its payment offerings, including third-party debit and credit cards and its own digital wallet.
Detailed explanation-2: -Unified Payments Interface (UPI) is an instant real-time payment system developed by National Payments Corporation of India (NPCI). The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions. It is used on mobile devices to instantly transfer funds between two bank accounts.
Detailed explanation-3: -Developed and launched by the National Payments Corporation of India in 2016, UPI is now one of the most preferred payment solutions in India, with over a billion transactions every month.
Detailed explanation-4: -In July 2021, Bhutan became the first country to adopt UPI standards for its QR deployment, and the first country in our immediate neighbourhood to accept mobile-based payments through the BHIM App.