Usually, to send money to a friend or family member through Unified Payments Interface (UPI), some of their information is required. To send money from the UPI app, you need to have a friend or family member’s bank account or UPI ID information, but this will no longer be required. ICICI Bank, Kotak Mahindra Bank and Airtel Payments Bank have launched ‘Pay to Contact’ or ‘Pay Your Contact’. With the introduction of this facility, now you will be able to send money to a friend or relative only through the mobile number. That is, sending money through UPI has become even easier. Other banks will also start this facility in the coming days.
Send money like this
To avail this facility, the sender has to open the bank’s app and first click on the option “pay to contact”. After this the mobile phonebook will open. The person to whom the money is to be sent has to be selected from the contact. By doing so, the bank’s app will automatically find the contact’s UPI address, provided the person next to it has a UPI address. Now the sender just has to check the UPI, enter the amount, after entering the password the money will be credited to his account. The person receiving the money can be on any app – PhonePe, Google Pay or Paytm. The bank’s app will automatically detect the UPI address.
Will save time
According to banks, with the introduction of the new facility in UPI, there is no need to enter UPI ID or bank account details to process the payment and will save time. Also, it has become easy to transfer money now. Under this facility, customers of Kotak Mahindra Bank can transfer Rs 50,000 and ICICI Bank Rs 1 lakh per day.
