UPI stands for Unified Payment Interface, which was launched earlier this week with 29 banks. The new payment means designed by NPCI, National Payment Corporation of India is intended to bring about a change in the way online transactions are done in India. The payment architecture will allow users to make transactions effectively without needing to disclose account details and IFSC codes through aliases. Also, this allows for pull-based payments. UPI Payment Gateway architecture enables users to send and receive money as well as make payments with merchants.